11503 Washington Place
Price Per Unit: $437,500
Price Per SF: $543
Cap Rate: 3.41%
Listing Agents: Adriana Cascarano & David O'Keefe
JUST LISTED: 4 UNITS IN MAR VISTA (LOS ANGELES)
January 22, 2021
Our new listing at 11503 Washington Place in LA’s Mar Vista neighborhood is an excellent value-add opportunity with 35 percent potential rental upside in a desirable coastal market. The property is a 1950 construction fourplex with all two-bedroom units, on-site laundry, two two-car garages, and an underutilized back patio area. One of the units will be delivered vacant, offering a new investor the opportunity to lease it at market rate. 11503 Washington Place is well-located steps from a coffee shop and blocks to downtown Mar Vista, Farmer’s Market, and the highly anticipated Culver Public Market Development. This location offers easy access to the 405 Freeway, major employers such as Apple, Amazon, and Google in both downtown Culver City and Silicon Beach, and a solid tenant base with an average household income within one mile over $103,000. A virtual tour of one unit is available. For more information, please contact Adriana Cascarano at Adriana.Cascarano@MarcusMillichap.com.