12707 Mitchell Avenue

Los Angeles, CA 90066

$4,055,000
Last Sold Price
15
Beds
16
Baths
11,356 Sq. Ft.
$357 / Sq. Ft.
11,356
Sq. Ft.
$357
per Sq. Ft.

Description

13-unit (12+B/GR) Multifamily Income Property currently generating strong income for the popular westside Los Angeles neighborhood of Mar Vista. Significant to investors, is the ultra-low area price of $374/SF & $327K/Unit. Currently the income property earns in excess of $282k annually, with an NOI of over $166k, the GRM is 15.04, and the In-place Cap rate is 3.92%. Twin Tower attracts quality tenants in a top rental pocket, with an excellent track record of low vacancy. Located between popular...13-unit (12+B/GR) Multifamily Income Property currently generating strong income for the popular westside Los Angeles neighborhood of Mar Vista. Significant to investors, is the ultra-low area price of $374/SF & $327K/Unit. Currently the income property earns in excess of $282k annually, with an NOI of over $166k, the GRM is 15.04, and the In-place Cap rate is 3.92%. Twin Tower attracts quality tenants in a top rental pocket, with an excellent track record of low vacancy. Located between popular Culver City, home to large new Apple and Amazon developments, and Silicon Beach which has attracted an estimated 500 tech companies, ranging from startups to established tech giants. Major technology companies that have opened offices in the region include Google, Facebook, Amazon, Apple, Netflix, Yahoo! , YouTube, Nike, BuzzFeed, Electronic Arts & Sony. Only one side requires tuck under seismic retrofit, $33K bid.
  1. Listed by Kelly Morgan • DRE #01898026 • Brokerage DRE #01854200 • Keller Williams-Santa Monica

Property Details for 12707 Mitchell Avenue

Zoning
LAR3
Parcel Number
4236019034
Total Units
13.0
Living Area
11356
Source Living Area
Assessor
Area
Palms - Mar Vista (C13)
Vacancy Rate
15%
Lot Size Area
9847

Location

Listing Courtesy of Keller Williams-Santa Monica, Kelly Morgan, DRE #01898026

Sold By Keller Williams-Santa Monica, Kelly Morgan, DRE #01898026

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LISTING UPDATED: 03/24/2021 10:10 AM

Property Details for 12707 Mitchell Avenue

StatusSold
MLS #20-636062
Days on Market181
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1969
Lot Size0.23 AC / 9,847 SF
CountyLos Angeles County

Location

Listing Courtesy of Keller Williams-Santa Monica, Kelly Morgan, DRE #01898026

Sold By Keller Williams-Santa Monica, Kelly Morgan, DRE #01898026

Add your commute

Virtual Tour

Building Information for 12707 Mitchell Avenue

Stories2Residences-Year Built1969Building Size-Lot Size0.23 AC / 9,847 SF

Payment Calculator

$26,495 per month

30 year fixed, 7.25% Interest

Principal and Interest

$22,130

Property Taxes

$4,365

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 12707 Mitchell Avenue

Community / Development
Community / Development
  • Number Of Units: 13
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Assessor
  • Number Of Stories: 2
  • Number Of Buildings: 1
  • Type Of Units: Apartments
Contract Info
Contract Info
  • Disclosures: None
  • Listing Type: Exclusive Agency
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Actual
  • Gross Operating Income: $274,078
  • Net Operating Income: $166,648.00
  • Gross Income: $282,555
  • Cap Rate: 3.92%
  • Gross Rent Multiplier: $15.04
  • Financial Info as Of: 09/01/2020
  • Total Annual Expense: 107438
Land / Lot Info
Land / Lot Info
  • Lot Acreage: 0.226
  • Lot Size Square Feet: 9847
Parking Details
Parking Details
  • Parking Garage: Covered Parking
  • Total Parking: 13
  • Parking Features: Covered
Interior Features
Interior Features
  • Cooling: Wall/Window Unit(s)
  • Cooling Type: Wall/Window
Exterior Features
Exterior Features
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 09-22-2020
  • Rent Control: Yes
  • Rent Control: 100
Unit Details
Unit 1 Information
  • Unit Beds: 0
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,049.00
  • Unit Actual Rent: $1,049.00
  • Unit Projected Rent: $1,800.00
  • Like Units: 1
Unit 2 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,614.00
  • Unit Actual Rent: $14,530.00
  • Unit Projected Rent: $2,150.00
  • Like Units: 9
Unit 3 Information
  • Unit Beds: 2
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $2,605.00
  • Unit Actual Rent: $7,815.00
  • Unit Projected Rent: $2,695.00
  • Like Units: 3
Unit Details
  • Unit Type Type: 2106, 2107, 2108
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $931,999.00
  • Assessed Improvement Percent: 33.33
  • Assessed Land Value: $1,863,999.00
  • Assessed Land Percent: 66.67
  • Assessed Total Value: $2,795,998.00

Property History for 12707 Mitchell Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

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

Public Records for 12707 Mitchell Avenue

Taxable ValueLand$3,375,057Additions$843,764Total$4,218,821
Tax Record2023$52,378 ($4,365 / month)
Home Facts
Total Finished SqFt11,356 SqFtAbove Grade Finished SqFt11,356 SqFtLot Size9,847 SqFtStyleMulti-Family Res (5+ Units)Year Built1969ZoningLAR3CountyLOS ANGELESAPN4236-019-034

Schools near 12707 Mitchell Avenue

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
Public - 9 to 12
Rating
School
Distance
Grand View Boulevard Elementary School
PublicK to 5

Venice Senior High School
Public9 to 12

Phoenix Continuation School
Public9 to 12

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 Keller Williams-Santa Monica, Kelly Morgan, DRE #01898026

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.