$1,498,000
About this home
12314 Washington Pl is a well-located 4-unit multifamily property in Culver City featuring an all 2-bed/1-bath unit mix. Built in 1950, the property sits on a 6,130 SF lot with 3,488 SF of improvements and 4 on-site parking spaces. Each unit averages approximately 872 SF. Current rent roll: Unit A: 2+1 at $2,058/mo; Unit B: 2+1 at $2,058/mo; Unit C: 2+1 at $2,058/mo; Unit D: 2+1 at $2,058/mo. Total current scheduled rent is $8,232/mo, with all four units currently occupied. Market rent is projected at $3,200/mo per unit, creating approximately 55% rent-to-market upside and a pro forma scheduled rent of $12,800/mo. Offered at $1,498,000, the property is priced at $374,500/unit and $429/SF with a 4.53% current cap rate and 8.08% pro forma cap rate. Current NOI is projected at $67,845 with pro forma NOI projected at $121,017. The property also received a brand-new roof and complete exterior repaint in 2025. Also available as part of a paired acquisition with adjacent 12320 Washington Pl. Unified ownership may unlock approved ADU plans and additional long-term upside. Buyer to verify all rents, expenses, market rent assumptions, ADU approvals, zoning, and development potential.
Facts & features
- Bedrooms
- 8
- Bathrooms
- 0 full, 0 half
- Living area
- 3,488 sq ft
- Heating
- Wall Furnace
- Cooling
- Wall Window Units
- Levels
- Multi Split
- Lot size
- 0.141 acres (6,130 sq ft)
- Year built
- 1950
- Parking
- Driveway
- Parking spaces
- 4
- Area
- C 28 - Culver City
- County
- Los Angeles
- Status
- Active
- Property type
- Residential Income
- Days on market
- 8
- Listed
- 2026-06-08
- Parcel #
- 4232006010
- MLS #
- 26844891
