$1,698,000
About this home
12320 Washington Pl | Vacant Unit / Owner-User Opportunity | 4-Unit Multifamily in Culver City. Built in 1950 on a 6,348 SF lot with 3,550 SF of improvements, this well-located Westside fourplex features an all 2-bed/1-bath unit mix averaging approximately 887 SF with 4 on-site parking spaces. Current rent roll: Unit A: 2+1 at $2,058/mo; Unit B: 2+1 vacant and modeled at $3,200/mo market rent; Unit C: 2+1 at $2,239/mo; Unit D: 2+1 at $2,120/mo. Total current residential scheduled rent is $9,617/mo, plus $1,400/mo in parking income, bringing total current scheduled income to $11,017/mo. Stabilized pro forma residential scheduled rent is projected at $12,800/mo, with total pro forma income including parking projected at approximately $13,858/mo. Offered at $1,698,000, the property is priced at $424,500/unit and $478/SF with a 6.02% current cap rate and 8.23% pro forma cap rate. Current NOI is projected at $102,192 with pro forma NOI projected at $139,746. The vacant unit provides an immediate owner-user or lease-up opportunity with no buyout required for that unit. The property also received a brand-new roof and complete exterior repaint in 2025. Also available as part of a paired acquisition with adjacent 12314 Washington Pl. Unified ownership may unlock approved ADU plans and additional long-term upside. Buyer to verify all rents, expenses, parking income, market rent assumptions, ADU approvals, zoning, and development potential.
Facts & features
- Bedrooms
- 8
- Bathrooms
- 0 full, 0 half
- Living area
- 3,550 sq ft
- Heating
- Wall Furnace
- Cooling
- Wall Window Units
- Levels
- Multi Split
- Lot size
- 0.146 acres (6,348 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 #
- 4232006020
- MLS #
- 26845017
