Property Detail

Description

Four-unit apartment investment in Culver City with one unit delivered vacant and potential to create a fifth residence through a garage and covered-patio conversion, subject to buyer verification and City approval. Offered at $1,095,000, the property includes two 2-bedroom/1-bath apartments and two 1-bedroom/1-bath apartments, totaling approximately 2,780 building square feet, excluding garages, on a 4,877-square-foot corner lot. Built in 1952. The vacant 1-bedroom offers immediate leasing flexibility or potential owner occupancy. The three occupied units generate $4,207.18 per month. Leasing the vacant unit at the projected rent of $2,400 per month would bring scheduled income to $6,607.18 per month. Below-market rents offer longer-term income growth through lawful increases and future turnover; no turnover schedule is assumed. A conceptual approximately 1,000-square-foot, 3-bedroom/2-bath ADU with direct backyard access offers additional potential, subject to design, feasibility, permits and City approval. Located on the Westside with access to Culver City, Mar Vista, Del Rey, Venice and Playa Vista. Property is subject to Culver City rent control. All square footage, income, expenses, market rents and ADU projections are estimates to be independently verified by buyer.