Apartment
FOR SALE
12028 W. Venice Blvd., Los Angeles, CA 90066
List Price
$2,695,000
Buildable Units.
Up to 30
Building Sq.Ft.
6,194
Lot Sq.Ft.
8,248
Zoning
LAC2
Property Overview
Prime Mar Vista mixed-use investment opportunity featuring six residential units, two retail storefronts, seven small one-room commercial offices, and two one-car garages, all situated on an 8,200 sq. ft. C2 TOC Tier 2 zoned parcel. The property currently has one vacant residential unit and two vacant office suites, while the remaining tenants are all month-to-month. The front building includes two retail stores, seven small offices, and four residential units above, while the rear building offers two additional residential units. Two one-car garages between the buildings present excellent ADU conversion potential. With an in-place cap rate of 5.8% (once three vacancies are filled); and a pro forma cap rate of 10% once building is stabilized, this is the best value in Mar Vista. The zoning allows development of 30–32 units on-site—or up to approximately 74 units when combined with the neighboring 12034 Venice Blvd. Located on the same block as the Mar Vista Farmers Market and surrounded by popular eateries, coffee shops, and boutique retailers, the property offers unmatched neighborhood appeal, with Venice Beach, Abbot Kinney, and Marina del Rey just minutes away.
Property Overview
Prime Mar Vista Location – On the same block as the Mar Vista Farmers Market, minutes from Venice Beach, Abbot Kinney, and Marina del Rey.
Mixed-Use Asset – Front building with 2 retail stores, 7 office suites, and 4 residential units above; rear building with 2 residential units.
ADU Potential – Two one-car garages with opportunity to convert into ADUs.
Development Upside – 8,200 SF C2 TOC Tier 2 parcel allows 30–32 units; combined with neighboring site (12034 Venice Blvd) offers ±74-unit development potential.
Flexible Tenancy – All tenants month-to-month, providing repositioning opportunities.
Income Growth – In-place cap rate of 5.8% with potential to reach 10% upon leasing vacant units, offering ±72% total rent upside.
Vibrant Surroundings – Steps from top restaurants, coffee shops, and boutique retailers.
Strong Foot & Vehicle Traffic – Highly visible Venice Blvd frontage ideal for retail and office tenants.
Rare Westside Investment Opportunity – Few mixed-use properties with this level of upside come to market in Mar Vista.
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