12900 Venice BLVD new Save Request In-Person Tour Request Virtual Tour
Los Angeles,CA 90066
Key Details
Property Type Commercial
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
MLS Listing ID 25549997
HOA Y/N No
Year Built 1955
Lot Size 5,405 Sqft
Lot Dimensions Assessor
Property Sub-Type Mixed Use
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 C13 - Palms - Mar Vista
Zoning LAC2
Rooms
Other Rooms Living Quarters
Interior
Heating Baseboard,Central,Electric,Natural Gas
Fireplace No
Laundry Laundry Closet
Exterior
Utilities Available Electricity Available,Natural Gas Available
Roof Type Flat,Mansard
Total Parking Spaces 6
Building
Lot Description Corner Lot,Near Public Transit,Rectangular Lot,Street Level
Story 1
Water Public
Additional Building Living Quarters
Others
Tax ID 4236012038
Security Features Fire Detection System,Smoke Detector(s)
Acceptable Financing Cash
Listing Terms Cash
Financing Cash
Special Listing Condition Standard