16 Fleet St

Marina del Rey, CA 90292

$4,825,000
Last Sold Price
12
Beds
14
Baths
8,040 Sq. Ft.
$600 / Sq. Ft.
8,040
Sq. Ft.
$600
per Sq. Ft.
Get preapproved with Rocket Mortgage1
Closed 8/30/23
Closed 8/30/23
a view of city and ocean

Description

16 Fleet Street is a well positioned 10-unit apartment building situated on the highly sought-after Peninsula of Marina Del Rey, just one lot from the sand. The property boasts a mix of (4) 2-bed/2-bath units, (4) 1-bed units, and (2) Bachelor units. (6) Units feature private balconies/patios. Tenants enjoy ample parking, on-site laundry and a bike storage room, as well as a large private yard facing a walk-street. Great proximity to the Marina and Venice Pier areas provides easy access to a range...16 Fleet Street is a well positioned 10-unit apartment building situated on the highly sought-after Peninsula of Marina Del Rey, just one lot from the sand. The property boasts a mix of (4) 2-bed/2-bath units, (4) 1-bed units, and (2) Bachelor units. (6) Units feature private balconies/patios. Tenants enjoy ample parking, on-site laundry and a bike storage room, as well as a large private yard facing a walk-street. Great proximity to the Marina and Venice Pier areas provides easy access to a range of retail and restaurant establishments. The building offers 8,040 RSF of living space priced at $621/SF and $499,999 per unit, with a 17.5 GRM and 3.74% CAP (Proforma 11.5 GRM and 6.43% CAP) presenting immediate upside potential. With its premier location, sizeable living space, and attractive pricing, 16 Fleet Street is an excellent and rare investment opportunity for any Los Angeles CRE Investor.
  1. Listed by Woody Stahl • DRE #01399621 • Brokerage DRE #01972083 • Lyon Stahl Investment Real Est • broker@lyonstahl.com
  2. Listed by Brett Lyon • DRE #01717818 • Brokerage DRE #01972083 • Lyon Stahl Investment Real Estate, Inc.

Property Details for 16 Fleet Street

View
Ocean
Parking Spaces Total
13
Private Pool
No
Cooling Type
None
Total Units
10.0
Building Type
Detached
Lot Size Source
Assessor
Living Area
8040
LISTING UPDATED: 09/01/2023 03:45 AM

Property Details for 16 Fleet Street

StatusClosed
MLS #PW23049920
Days on Market63
Taxes-
HOA Fees-
Condo/Co-op Fees-
Property TypeMixed Use
MLS TypeResidential Income
Year Built1971
Lot Size0.14 AC / 6,301 SF
CountyLos Angeles County
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Location

Listing Courtesy of Lyon Stahl Investment Real Est, Woody Stahl, DRE #01399621; Lyon Stahl Investment Real Estate, Inc., Brett Lyon, DRE #01717818

Sold By Lyon Stahl Investment Real Est, Woody Stahl, DRE #01399621

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Building Information for 16 Fleet Street

Stories-Residences-Year Built1971Building Size-Lot Size0.14 AC / 6,301 SF

Payment Calculator

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$29,280 per month

30 year fixed, 6.46% Interest

Principal and Interest

$24,296

Property Taxes

$4,984

HOA Dues

$0

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Property Information for 16 Fleet Street

Income / Expense / Tax Details
Income Details
  • Gross Income: $285,564
  • Gross Scheduled Income: $285,564
  • Net Operating Income: $187,218
  • Laundry Income: $125
  • Gross Multiplier: 17.51
  • Cap Rate: 3.74
  • Financing: Cash To Existing Loan
Expense Details
  • Operating Expense: $98,346
  • New Taxes Expense: $59,530
  • Fuel Expense: $0
  • Electric Expense: $1,761
  • Insurance Expense: $5,300
  • Maintenance Expense: $8,423
  • Professional Management Expense: $14,038
  • Other Expense: $4,238
  • Other Expense Description: Utility
  • Trash Expense: $5,233
  • Water Sewer Expense: $0
  • Total Expenses: $98,346
Tax / Assessment Info
  • Tax Block: D
  • Tax Tract Number: 2742
  • Tax Census Tract: 2742.02
  • Tax Lot: 8
Community / Development
Community / Development
  • Community Features: Biking
Property / Structure Info
Interior Features
  • Laundry: Yes
  • Laundry Features: Common Area
  • Laundry Equipment Own Lease: Own
  • Cooling: None
  • Heating Type: None
  • Heating: None
Exterior Features
  • View Description: Ocean
  • Pool Features: None
  • Pool Description: None
Land/Lot Info
  • Lot Features: 6-10 Units/Acre
  • Number Of Units: 10
  • Land Lease: No
  • Land Lease Type: Fee
  • Water: Public
  • Sewer: Public Sewer
  • Water Source: Public
Parking Info
  • Garage Spaces: 10
  • Uncovered Spaces: 3
  • Open Other Spaces Total: 3
  • Parking Garage Spaces: 10
  • Carport Spaces: 0
Unit Information
Unit 1
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 2
  • Unit Type Garage Spaces: 1
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $1,969
  • Unit Type Total Rent: $1,969
  • Unit Type Pro Forma: 4200
  • Unit Type Type: 1
Unit 2
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 0
  • Unit Type Baths Total: 1
  • Unit Type Garage Spaces: 1
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $2,500
  • Unit Type Total Rent: $2,500
  • Unit Type Pro Forma: 2500
  • Unit Type Type: 10
Unit 3
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 2
  • Unit Type Garage Spaces: 1
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $2,070
  • Unit Type Total Rent: $2,070
  • Unit Type Pro Forma: 4200
  • Unit Type Type: 2
Unit 4
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 2
  • Unit Type Garage Spaces: 1
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $2,763
  • Unit Type Total Rent: $2,763
  • Unit Type Pro Forma: 4200
  • Unit Type Type: 3
Unit 5
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 2
  • Unit Type Garage Spaces: 1
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $2,850
  • Unit Type Total Rent: $2,850
  • Unit Type Pro Forma: 4200
  • Unit Type Type: 4
Unit 6
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Garage Spaces: 1
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $1,904
  • Unit Type Total Rent: $1,904
  • Unit Type Pro Forma: 3500
  • Unit Type Type: 5
Unit 7
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Garage Spaces: 1
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $2,382
  • Unit Type Total Rent: $2,382
  • Unit Type Pro Forma: 3500
  • Unit Type Type: 6
Unit 8
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Garage Spaces: 1
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $1,889
  • Unit Type Total Rent: $1,889
  • Unit Type Pro Forma: 3500
  • Unit Type Type: 7
Unit 9
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Garage Spaces: 1
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $2,395
  • Unit Type Total Rent: $2,395
  • Unit Type Pro Forma: 3500
  • Unit Type Type: 8
Unit 10
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 0
  • Unit Type Baths Total: 1
  • Unit Type Garage Spaces: 1
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $2,500
  • Unit Type Total Rent: $2,500
  • Unit Type Pro Forma: 2500
  • Unit Type Type: 9
Unit Information
  • Number Of Units Leased: 8
  • Rent Controlled: Yes
  • Number Of Buildings: 1
  • Number Of Separate Electric Meters: 11
  • Number Of Separate Gas Meters: 1
  • Number Of Separate Water Meters: 1

Property History for 16 Fleet Street

DateEvent & SourcePriceAppreciation
Aug 30, 2023

Sold

CLAW #PW23049920MR

$4,825,000—
Aug 30, 2023

Sold

CRMLS #PW23049920

$4,825,000—
Aug 8, 2023

Sold (Public Record)

Public Record #1517279429

$4,825,000—
DateEvent & SourcePrice
08/30/2023

Sold

CLAW #PW23049920MR

$4,825,000
08/30/2023

Sold

CRMLS #PW23049920

$4,825,000
08/08/2023

Sold (Public Record)

Public Record #1517279429

$4,825,000

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 16 Fleet Street

Taxable ValueLand$3,901,500Additions$1,020,900Total$4,922,400
Tax Record2025$59,812 ($4,984 / month)
Home Facts
Total Finished SqFt8,040 SqFtAbove Grade Finished SqFt8,040 SqFtLot Size6,301 SqFtStyleMulti-Family Res (5+ Units)Year Built1971ZoningLAR3CountyLOS ANGELESAPN4225-009-037

Schools near 16 Fleet Street

This home is within Los Angeles Unified School District.
Rating
School
Type
Grades
Distance
Coeur D'Alene Avenue Elementary School
Public - K to 5
Marina Del Rey Middle School
Public - 6 to 8
Venice Senior High School
Public - 9 to 12
Westside Global Awareness Magnet
Public - K to 8
Rating
School
Distance
Coeur D'Alene Avenue Elementary School
PublicK to 5

Marina Del Rey Middle School
Public6 to 8

Venice Senior High School
Public9 to 12

Westside Global Awareness Magnet
PublicK to 8

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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Listing Courtesy of Lyon Stahl Investment Real Est, Woody Stahl, DRE #01399621; Lyon Stahl Investment Real Estate, Inc., Brett Lyon, DRE #01717818

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.