12314 Washington Place

C28 - Culver City Los Angeles 90066

12314 Washington Pl | 4-Unit Value-Add Multifamily in Culver City Adjacent, Los Angeles. Built in 1950 on a 6,130 SF lot with 3,488 SF of improvements, this well-located Westside fourplex features an all 2-bed/1-bath unit mix averaging 872 SF with 4 on-site parking spaces. The property offers significant value-add upside with approximately 55% rent-to-market potential across all four units, driven by long-term below-market rents well below the demonstrated $3,200/month market and actionable through natural turnover or negotiated buyout. The property operates free of rent control under RMD zoning, giving a new owner full flexibility to reset rents at turnover. Offered at $1,498,000 ($374,500/unit | $429/SF) with a 4.23% in-place cap rate and 7.63% pro forma cap rate, supported by projected NOI growth from $63,344 to $114,323. The property received a brand-new roof and complete exterior repaint in 2025. Also available as part of a paired acquisition with the adjacent 12320 Washington Pl unified ownership unlocks approved ADU plans.