12028 Venice Boulevard
Los Angeles, CA 90066

Located one block from the Mar Vista Farmer's Market is this rare Venice Blvd retail and residential building with an easy cap rate of 6.7% without relocating any residential tenants. The property currently has two six residential 1-bedroom apartments, two retail stores, four office suites, and two single car garages. Two One-Car Garages can be Converted into One Studio ADU, Making Seven Total Residential Units. All of the retail and commercial tenants are on month-to-month leases allowing the opportunity to raise commercial rents to a reasonable pro forma income of $187,560 net and bringing your total building NOI to $221,773 or a 6.7% cap rate. Relocating residential tenants adds an ADDITIONAL 20% upside in rents. The front building is two stories and features approximately 2,442 square feet of ground floor retail and commercial space and four 1 bedroom/1-bathroom apartments on the second floor. The second building is a two-story duplex, each unit of which is a 1 bedroom/1 bath that occupies one floor. In between the two buildings are two free-standing parking garages and one assigned parking spaces for each tenant. Pro Forma Cap Rate After Commercial Value-add + Garage ADU Conversion: 7.4%. Pro Forma Cap Rate After Commercial Value-Add + Garage ADU Conversion + Residential Val