11401 Washington Place
Multifamily | 10 Units | $279,500/unit
Marketing description
ASSET
10-unit apartment located in Mar Vista. The property is comprised of (3) 2-bedroom/1-bathroom units and (7) 1-bedroom/1-bathroom units on a 7,753-SF corner lot. One of the 1-bedrooms units is currently vacant. The plumbing and electrical were upgraded in 2025. Some of the units have been renovated with hardwood floors, newer windows, quartz counters and modern upgrades in the kitchens and bathrooms. The property features 7 garages and an on-site laundry facility, which both generate additional annual income. The garages and large lot present a desirable opportunity to add ADUs.
LOCATION
11401 Washington Place is located west of Sawtelle Boulevard in the prime Mar Vista neighborhood, with convenient access to Marina Del Rey, Venice, Culver City, Santa Monica, and Playa Vista, offering an abundance of dining, entertainment, beach, and lifestyle amenities. The property is adjacent to Silicon Beach, Culver City and the many technology and entertainment companies on the Westside, including Sony Pictures, Amazon Studios, Google, Meta, One Culver, Apple, Electronic Arts, Snap, and Hulu.
FINANCIALS
This 7,129-SF investment opportunity presents stable-in place rents as well as legitimate rental upside. The asset contains a current cap rate of 5.30% and current GRM of 12.30 with a pro-forma cap rate of 7.39% and pro-forma GRM of 9.64.
Investment highlights
- 10-Unit Investment Opportunity in Mar Vista: Well-located Westside apartment asset in one of Los Angeles' most desirable rental markets.
- Recent System Upgrades: Plumbing and electrical systems were upgraded in 2025.
- Prime Westside Location: Convenient access to Marina Del Rey, Venice, Santa Monica, Culver City, and Playa Vista, providing tenants with premier dining, entertainment, beach, and lifestyle amenities.
- Income-Generating Amenities & ADU Potential: 7 garages and on-site laundry facility generate additional income, while the 7,753-SF lot and parking area present desirable opportunity to add ADUs (Buyer to Verify).
- Strong Cash Flow & Rental Upside: Offering a 5.30% current cap rate and 12.30 GRM with upside to a 7.39% pro-forma cap rate and 9.64 GRM.
- Attractive Unit Mix: Comprised of (3) 2-bedroom/1-bathroom units and (7) 1-bedroom/1-bathroom units, including one vacant 1-bedroom unit.
- Renovated Units: Select units feature hardwood floors, newer windows, quartz countertops, and modern kitchen and bathroom upgrades.
- Adjacent to Silicon Beach: Close proximity to Sony Pictures, Amazon Studios, Google, Meta, Apple, One Culver, Electronic Arts, Snap, Hulu, and other major Westside employers supporting strong tenant demand.
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