12900 Venice Boulevard,Los Angeles, CA 90066
Los Angeles, CA 90066
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.
Details
| MLS # | 25549997 |
|---|---|
| Listing Type | For Sale |
| Style | Mixed Use |
| Building Name | Saby's Cafe & One Apartment Unit |
| Sub-Type | Resale |
| Status | Active |
| Year | 1955 |
| Days On Site | 10 |
| Listing Provided By | Hilton & Hyland | Jeff Berris |
Features
| SQ Feet | 4,350 |
|---|---|
| Story(s) | 1 |
| Units | 1 |
| Building(s) | 2 |
| Zoning | LAC2 |
| Acreage | 0.12 |
Interior
| Heating | Baseboard, Central, Electric, Natural Gas |
|---|---|
| Heating Yes / No | Yes |
| Cooling Yes / No | Yes |
Exterior
| Roof | Flat, Mansard |
|---|---|
| Security Features | Fire Detection System, Smoke Detectors |
| Construction Materials | Stucco |
| Lot Features | Corner Lot, Near Public Transit, Rectangular Lot, Street Level |
Utilities
| Utilities | Electricity Available, Natural Gas Available |
|---|---|
| Electric | Standard |
Market Activity 90066
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Learn More About This Property
| State | CA |
|---|---|
| County | Los Angeles |
| City | Los Angeles |
| Zip Code | 90066 |
| Area | C13 Palms Mar Vista |
| Listing VS Median (in 90066) | |
Price: $4,495,000 low | high Med: $1,950,000 SqFt: 4,350 low | high Med: 2,912 $ / SqFt: $1,033 low | high Med: $670 On site: 10 low | high Med: 14.000000 | |