Description

Offered at $1,900,000 ($273.38 per square foot), 12231 Pacific Avenue presents a fully stabilized, seven-unit multifamily investment in the heart of Mar Vista. The property delivers a current net operating income of $95,410 for a 5.02% cap rate and a gross rent multiplier of 12.1, supported by gross scheduled rents of $157,056. With approximately 44.9% upside to pro forma market rents, this offering represents a compelling value-add opportunity for investors seeking rent-stabilized assets in Los Angeles.

Built in 1963, this two-story wood-frame structure with stucco exterior comprises 6,950 rentable square feet on a 7,501-square-foot lot. The unit mix includes five two-bedroom/two-bath homes averaging 900 square feet and two three-bedroom/two-bath units of approximately 1,100 square feet. Each of the seven units is accompanied by a dedicated parking stall, and the property is registered under the City of Los Angeles Rent Stabilization Ordinance, maintaining 100% occupancy as of August 11, 2026.

Strategically situated one block south of the Venice Boulevard retail corridor, this Mar Vista asset offers tenants immediate access to neighborhood retail, dining, and transit options, with Santa Monica and Venice Beach just minutes away. Zoned R3-1 (LAR3) with APN 4235-023-025, the site’s 0.17-acre footprint provides a solid platform for long-term hold or future repositioning in line with prevailing land-use regulations. 12231 Pacific Avenue combines strong rental fundamentals with an attractive value-add proposition in one of Los Angeles’s most sought-after coastal submarkets.