11262 Venice Blvd, Culver City, CA 90260

Mar 13

$1,800,000 Sales Price

6
Units

4,500
Sq Ft

11262 Venice Boulevard is a six-unit, two-building multifamily property in Culver City, California, offered at $1,800,000. The original four-unit structure was built in 1954 and has been held as a long-term rental asset. In 2025, ownership added two new construction units, Units A and B, which are not subject to the Rent Stabilization Ordinance and are being delivered vacant at close of escrow.

The property sits on a 5,000 square foot double corner lot with approximately 4,500 square feet of gross building area. The unit mix consists of two 1-bedroom/1-bath units, two 2-bedroom/1-bath units, and two 2-bedroom/2-bath units (the new construction ADUs). Gas and electric are separately metered. On-site laundry is available for tenants, and one of the new construction units includes in-unit washer and dryer hookups.

At asking price, the deal pencils at a 5.61% current cap rate with a GRM of 10.73. On a pro forma basis, with the two vacant non-rent-controlled units leased at market, the cap rate projects to 8.67% with a GRM of 8.02. Current in-place gross potential rent is $167,820 annually. Pro forma gross potential rent reaches $224,400.

Located on the cusp of Culver City, Playa Vista, and the Venice corridor, within easy reach of LAX, Santa Monica, Marina del Rey, and Century City, this is a stable, income-producing asset with meaningful upside driven by two new, market-rate units unencumbered by rent control. Price per unit is $300,000. Price per square foot is $400.