12900 Venice Blvd Active Save Request In-Person Tour Request Virtual Tour
Los Angeles,CA 90066
Key Details
Property Type Commercial
Sub Type Combo - Res & Com
Listing Status Active
Purchase Type For Sale
Square Footage 4,350 sqft
Price per Sqft $1,033
MLS Listing ID 25549997
Year Built 1955
Lot Size 5,407 Sqft
Acres 0.1241
Property Sub-Type Combo - Res & Com
Property Description
We are thrilled to present this exceptional opportunity in the heart of Mar Vista, located on the corner of one of West LA's most rapidly appreciating submarkets. This trophy property along the vibrant Venice Boulevard corridor offers a rare combination of value add potential with 50% upside in rents, or an exciting owner user restaurant or retail re-development, in a high-barrier-to-entry market. Currently, the properties are all leased to one family on an an absolute triple net basis. Tenant pays rent and all expenses, including repairs & maintenance, property taxes and insurance. One family member runs the market, another runs the cafe', and another lives in the apartment unit. The lease matures in July 2026 for all properties. Current rents are approximately 50% below market, which translates to big opportunity for the next owner. Great options for a new owner to: 1. Purchase, invest in interiors, and lease at market rents, or 2. Enlarge Cafe to over 2,600 sq. ft. by combining with attached unit & keep market free standing, or 3. Combine all three uses for over 4,300 sq ft of restaurant, retail or mixed-use space! Venice Blvd has over 47,000 cars per day passing by this location, great trendy restaurants and night life already exist on this intersection. First time on market in over 25 years! This is an exciting opportunity with strong upside, and can support flexible business plans for the properties.
Location
State CA
County Los Angeles
Area Palms - Mar Vista
Zoning LAC2
Interior
Heating Baseboard, Central, Electric, Natural Gas
Laundry In Closet
Exterior
Garage Spaces 6.0
Roof Type Flat, Mansard
Building
Story 1
Water District
Structure Type Stucco
Others
Special Listing Condition Standard