Description
13-unit (12+B/GR) Multifamily Income Property currently generating strong income for the popular westside Los Angeles neighborhood of Mar Vista. Significant to investors, is the ultra-low area price of $374/SF & $327K/Unit. Currently the income property earns in excess of $282k annually, with an NOI of over $166k, the GRM is 15.04, and the In-place Cap rate is 3.92%. Twin Tower attracts quality tenants in a top rental pocket, with an excellent track record of low vacancy. Located between popular Culver City, home to large new Apple and Amazon developments, and Silicon Beach which has attracted an estimated 500 tech companies, ranging from startups to established tech giants. Major technology companies that have opened offices in the region include Google, Facebook, Amazon, Apple, Netflix, Yahoo!, YouTube, Nike, BuzzFeed, Electronic Arts & Sony. Only one side requires tuck under seismic retrofit, $33K bid.
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15BEDS
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0.23ACRES
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0BATHS
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01/2 BATHS
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11,356SQFT
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$374$/SQFT
School Ratings & Info
Description
13-unit (12+B/GR) Multifamily Income Property currently generating strong income for the popular westside Los Angeles neighborhood of Mar Vista. Significant to investors, is the ultra-low area price of $374/SF & $327K/Unit. Currently the income property earns in excess of $282k annually, with an NOI of over $166k, the GRM is 15.04, and the In-place Cap rate is 3.92%. Twin Tower attracts quality tenants in a top rental pocket, with an excellent track record of low vacancy. Located between popular Culver City, home to large new Apple and Amazon developments, and Silicon Beach which has attracted an estimated 500 tech companies, ranging from startups to established tech giants. Major technology companies that have opened offices in the region include Google, Facebook, Amazon, Apple, Netflix, Yahoo!, YouTube, Nike, BuzzFeed, Electronic Arts & Sony. Only one side requires tuck under seismic retrofit, $33K bid.
Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-03-07T07:42:17.21. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.