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12240 Pacific Avenue $7,795,000

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    12240 Pacific Avenue Los Angeles, CA 90066

    • 0 Beds
    • 0 Baths
    • 7,108 sq. ft.
    • Multi-Family
    • MLS# SB22155281
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    Views: 14 Days On Market: 141

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    Property Details

    Lyon Stahl Investment Real Estate is proud to present 12240 Pacific Ave in Los Angeles. This trophy 13-unit apartment building is located in the highly desirable Mar Vista submarket. The luxurious 7,108 SF building is situated on a 7,500 SF lot and has been completely remodeled with top-of-the-line upgrades. This property features a unit mix of (7) 1-bed/1-bath units, (4) studio apartments and (2) 2-bed/2-bath units , currently stabilizing at a 3.84% CAP rate. The entire property has undergone the following renovations: in-unit Washer/Dryers, Wood Plant Waterproof Flooring, New SS Kitchen Appliances, New Quartz Kitchen Countertops with New '˜Soft-Close' Cabinets, Subway Tile Backsplashes, SS Farmhouse Sinks, Completely Renovated Bathrooms with Full Slab Quartz Tub Surrounds, All New LED Interior Lighting, Instant Hot Water, and High Speed Internet throughout the units. The property is in one of Los Angeles' Westsides hottest submarkets, just a short distance from Venice, Culver City, Santa Monica, and the prime retail corridors on Rose Avenue and Abbot Kinney Boulevard. This is a perfect opportunity for a yield-focused investor looking to purchase a turn-key asset in one of the most desirable rental markets in Southern California.

    • General Features
      • Buyer Compensation 3.500 %
      • Community Features Sidewalks
      • County Or Parish Los Angeles
      • Number Of Buildings 1
      • Number Of Separate Electric Meters 13
      • Number Of Separate Gas Meters 13
      • Number Of Separate Water Meters 1
      • Number Of Units Total 13
      • YearBuilt 1964
    • Building Features
      • Laundry Features None
    • Property Features
      • Lot Size Acres 0.17
      • Lot Features 0-1 Unit/Acre
      • Pool Private Y/N 0
      • Pool Features None
      • Parking Total 3.00

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    Neighborhood

    90066 (Los Angeles) Demographics

    38 Median Age
    11,825 Population Density (per sq. mile)
    63% College Educated
    $87,589 Estimated Median Income
    9,723 Estimated Total Home Owners
    16,973 Estimated Total Renters
    36% / 64% Estimated Owner / Renter Divide
    2 Estimated Average Household Size
    58,851 Total Population
    Community data courtesy of LiveBy, Inc.

    Market Last 30 Days In This Postal Code

    $1,600,000 Median Sales Price
    42 Homes Sold
    47 New On Market

    Average Days on Market

      Properties for Sale

        Calculations provided by Reliance Network

        Property History

        Date Event Price Percent Change
        -- Current Price Source: Multiple Listing Service New Value: $7,795,000
        11/18/2022 12:46:59 PM Price Reduced Source: Multiple Listing Service New Value: $7,795,000 -1.27%
        10/24/2022 2:46:48 PM Price Reduced Source: Multiple Listing Service New Value: $7,895,000 -3.43%
        7/18/2022 2:04:00 PM New in Database Source: Multiple Listing Service New Value: $8,175,000

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        ** Assumes 3.5% APR, 20% down payment, and conventional 30-year fixed rate first mortgage. Rates cited are for instructional purposes only; current rates are subject to change at any time without notice. You should not make any decisions based simply on the information provided. Additional required amounts such as taxes, insurance, homeowner association dues, assessments, mortgage insurance premiums, flood insurance or other such required payments should also be considered. Contact your mortgage company for current rates and additional information.
        Based on information from California Regional Multiple Listing Service, Inc. as of 12/6/2022 10:49:16 PM. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.

        Note: All room dimensions, including square footage data, are approximate and must be verified by the buyer. The information contained herein is furnished by the owner to the best of his/her knowledge but is subject to verification by the purchaser, and agent assumes no responsibility for the correctness thereof. The sale offering is made subject to errors, omissions, change of price, prior sale, or withdrawal without notice. In accordance with the Law, this property is offered without respect to race, color, creed, national origin, sex, familial status or disability. This is not intended to solicit property currently listed.