11503 Washington Boulevard

Los Angeles, CA 90066

$1,625,000
Last Sold Price
2
Beds
4
Baths
3,224 Sq. Ft.
$504 / Sq. Ft.
3,224
Sq. Ft.
$504
per Sq. Ft.

Description

NOTE: Map may be showing incorrect location. Correct maps location is 11503 Washington Place.
11503 Washington Place is a four-unit apartment building for sale in Los Angeles’ desirable Mar Vista neighborhood proximate to Silicon Beach. With over 35 percent potential upside in rents, this offering presents an excellent value-add opportunity in a sought-after coastal market. The property consists of a two-story, 1950 construction front building with four two-bedroom/one-bath units and a rear building
...NOTE: Map may be showing incorrect location. Correct maps location is 11503 Washington Place.

11503 Washington Place is a four-unit apartment building for sale in Los Angeles’ desirable Mar Vista neighborhood proximate to Silicon Beach. With over 35 percent potential upside in rents, this offering presents an excellent value-add opportunity in a sought-after coastal market. The property consists of a two-story, 1950 construction front building with four two-bedroom/one-bath units and a rear building that contains shared laundry facilities and two two-car garages. The units average 806 square feet, are separately metered for gas and electricity, and have hardwood floors and wall heaters. A new investor may consider adding value by converting the area between the buildings that is currently occupied by laundry drying lines into a shared back patio for tenants’ enjoyment.

11503 Washington Place is located on the corner lot at the intersection of Washington Place and Berryman Street, steps from a coffee shop and blocks to downtown Mar Vista, Farmer’s Market, and the highly anticipated Culver Public Market Development. This location offers easy access to the 405 Freeway, major employers such as Apple, Amazon, and Google in both downtown Culver City and Silicon Beach, and a solid tenant base with an average household income within one mile over $103,000.
  1. Listed by Steven Bogoyevac • DRE #01332755 • Brokerage DRE #01332755 • Steven M. Bogoyevac, Broker
  2. Listed by David O'Keefe • DRE #01928739 • Brokerage DRE #00530854 • Marcus & Millichap

Property Details for 11503 Washington Boulevard

Parking Spaces Total
4
Private Pool
No
Total Units
4.0
Building Type
Detached
Lot Size Source
Assessor
Living Area
3224
Assessor Parcel Number
4214-011-001
Property Attached YN
false

Location

Listing Courtesy of Steven M. Bogoyevac, Broker, Steven Bogoyevac, DRE #01332755; Marcus & Millichap, David O'Keefe, DRE #01928739

Sold By NONMEMBER MRML, Brian Grossman, DRE #0210920

Add your commute
LISTING UPDATED: 04/30/2021 07:58 AM

Property Details for 11503 Washington Boulevard

StatusClosed
MLS #PW21014551
Days on Market94
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1950
Lot Size0.12 AC / 5,158 SF
CountyLos Angeles County

Location

Listing Courtesy of Steven M. Bogoyevac, Broker, Steven Bogoyevac, DRE #01332755; Marcus & Millichap, David O'Keefe, DRE #01928739

Sold By NONMEMBER MRML, Brian Grossman, DRE #0210920

Add your commute

Building Information for 11503 Washington Boulevard

Stories-Residences-Year Built1950Building Size-Lot Size0.12 AC / 5,158 SF

Payment Calculator

$9,856 per month

30 year fixed, 7.25% Interest

Principal and Interest

$8,868

Property Taxes

$988

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 11503 Washington Boulevard

Income / Expense / Tax Details
Income Details
  • Gross Income: $92,237
  • Gross Scheduled Income: $88,517
  • Net Operating Income: $60,604
  • Garage Income: $2,580
  • Laundry Income: $1,140
  • Gross Multiplier: 18.92
  • Cap Rate: 3.62
  • Financing: Cash
Expense Details
  • Operating Expense: $28,977
  • New Taxes Expense: $0
  • Fuel Expense: $0
  • Electric Expense: $0
  • Insurance Expense: $0
  • Trash Expense: $0
  • Water Sewer Expense: $0
  • Total Expenses: $28,977
Tax / Assessment Info
  • Tax Tract Number: 7668
  • Tax Census Tract: 7028.02
  • Tax Lot: 259
Community / Development
Community / Development
  • Community Features: Suburban
Property / Structure Info
Interior Features
  • Laundry: Yes
  • Laundry Features: Community
Exterior Features
  • Pool Features: None
  • Pool Description: None
  • Pool: N/K
Land/Lot Info
  • Lot Features: Corner Lot, Rectangular Lot
  • Number Of Units: 4
  • Land Lease: No
  • Land Lease Type: Fee
  • Sewer: Public Sewer
  • Water Source: Public
Parking Info
  • Garage Spaces: 4
  • Parking Garage Spaces: 4
  • Carport Spaces: 0
Unit Information
Unit 1
  • Unit Type Units Total: 4
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $1,626
  • Unit Type Total Rent: $4,877
  • Unit Type Pro Forma: 2500
  • Unit Type Type: 1
Unit Information
  • Rent Controlled: Yes
  • Number Of Buildings: 2
  • Number Of Separate Electric Meters: 4
  • Number Of Separate Gas Meters: 4
  • Number Of Separate Water Meters: 0

Property History for 11503 Washington Boulevard

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

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

Public Records for 11503 Washington Boulevard

Taxable ValueLand$708,173Additions$236,053Total$944,226
Tax Record2020$11,859 ($988 / month)
Home Facts
Total Finished SqFt3,224 SqFtAbove Grade Finished SqFt3,224 SqFtLot Size5,158 SqFtStyleQuadraplexYear Built1950Year Renovated1950ZoningLAR3CountyLOS ANGELESAPN4214011001

Schools near 11503 Washington Boulevard

This home is within Los Angeles Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - 6 to 8
Public - 9 to 12
Charter - 6 to 8
Rating
School
Distance
Grand View Boulevard Elementary School
PublicK to 5

Marina Del Rey Middle School
Public6 to 8

Venice Senior High School
Public9 to 12

Icef Vista Middle Academy
Charter6 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.

Similar Homes

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Similar Sold Homes

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No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Steven M. Bogoyevac, Broker, Steven Bogoyevac, DRE #01332755; Marcus & Millichap, David O'Keefe, DRE #01928739

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.