12717 Matteson Avenue
9-Unit Apartment Building in Mar Vista | Value Add, 44% Rental Upside
Marketing description
12717 Matteson Ave presents a rare opportunity to acquire a classic Mid-Century "Dingbat" apartment building in the heart of Mar Vista, one of the most desirable neighborhoods in LA's westside.
Built in 1964, this 9-unit building contains 6,830 SF on a 7,105 SF lot with desirable R3 zoning. The property has completed both its seismic retrofit and SB 721 balcony compliance, and it includes an Environmental Clearance report dated May 2026 confirming no existing environmental issues.
The unit mix is well balanced and includes one vacant 3BD/2BA unit to be delivered at closing, two 2BD/2BA units, two 2BD/1BA units, and four 1BD/1BA units.
With 7 on-site parking spaces in a neighborhood where parking is at a premium, the property offers strong appeal to current and future tenants. The asset offers approximately 44% rental upside, with a projected Pro Forma Cap Rate of 8.77% and a Pro Forma GRM of 7.35.
Investment highlights
- Family Owned and Operated Since 1989
- Approximately 44% rental upside
- Capital Expenditures: Rebuilt stairwell, deck, and railings for SB 721 compliance, and rehabilitation of two units in 2026.
- 9 Parking spaces
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