Best existing cap rate in this part of Mar Vista + best unit mix + ample parking + two completely redone units + 32% upside in rents = Best Deal in 90066. Close to Venice, "Silicon" Beach, & Playa Vista. Perfect for an owner-user or investor, there are 2 buildings w/ 5 total units. In front is a 4-bed/2-bath house with tandem parking for 2 cars, accessed from Matteson. The rear building features four 2-bed/1-bath units and 4 parking spaces, accessed from the alley. Two units have been immaculately redone in the rear building. The buildings are separated by a courtyard w/ a BBQ area & separate seating area. An owner can add a partition to the front house to create privacy from the back units. Many units have updates but there is opportunity to rehab the front house or add a second story to add tremendous upside in rents. The property is zoned R3, so a second story can maybe potentially be added to the front house per zoning (seller makes no warranty).
This property is off market, which means it's not currently listed for sale or rent on Zillow. This may be different from what's available on other websites or public sources.
