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$1,395,000
Est. payment /mo
5 Beds
3 Baths
2,441 SqFt
UPDATED:
12/10/2024 05:13 PM
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 2,441 sqft
Price per Sqft $571
MLS Listing ID 24468485
Bedrooms 5
HOA Y/N No
Year Built 1954
Lot Size 5,501 Sqft
Property Description
12007 Sylvester presents a prime real estate opportunity in the heart of Mar Vista, located two building in from the corner of Sylvester Street and Inglewood Blvd. This triplex located on a cul-de-sac features two 2-bedroom, 1-bath units and one 1-bedroom, 1-bath unit. Each unit is complemented by private outdoor spaces, including patios for the ground-floor units and a balcony for the second-story unit. The property also includes separate one-car garages, with additional parking available in front of each garage. Value-Add Opportunities - Rental Upside: The property is 100% occupied when a unit vacates rent can be adjusted to market rate. currently the rents at approximately 50% below market. With the ability to add an ADU unit, presents a strong income growth opportunity. Owner-Occupancy Potential: Ideal for buyers looking to occupy one unit while benefiting from rental income from the others. Development Possibilities: Zoned LARD3, the property offers multiple paths for redevelopment. For those looking to expand further, the two adjacent triplexes (12001 and 12013Sylvester) are also available for sale for $266/SF, enabling a combined 16,500-square-foot lot development. By right, this assemblage could yield 20 units, or up to 28 units with bonus density (buyer to verify with the City of Los Angeles). Conveniently located near Culver City, this property offers easy access to dining and entertainment on Washington Blvd and the vibrant Mar Vista Farmers Market on Grandview. Don't miss the chance to invest in one of West LA's most desirable neighborhoods.
Location
State CA
County Los Angeles
Area C13 - Palms - Mar Vista
Zoning LAR3
Interior
Heating Wall Furnace
Cooling None
Fireplace No
Exterior
Parking Features Door-Multi, Garage
Garage Spaces 3.0
Garage Description 3.0
Total Parking Spaces 3
Building
Story 2
Entry Level Two
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 4232004059
Special Listing Condition Standard
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Listed by D. Timothy Byrne • Compass
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Adrian Castillo
Principal/Realtor | CA DRE#01308935
Principal/Realtor CA DRE#01308935