12320 Washington Pl | Vacant Unit / Owner-User Opportunity | 4-Unit Multifamily in Culver City. Built in 1950 on a 6,348 SF lot with 3,550 SF of improvements, this well-located Westside fourplex features an all 2-bed/1-bath unit mix averaging approximately 887 SF with 4 on-site parking spaces. Current rent roll: Unit A: 2+1 at $2,058/mo; Unit B: 2+1 vacant and modeled at $3,200/mo market rent; Unit C: 2+1 at $2,239/mo; Unit D: 2+1 at $2,120/mo. Total current residential scheduled rent is $9,617/mo, plus $1,400/mo in parking income, bringing total current scheduled income to $11,017/mo. Stabilized pro forma residential scheduled rent is projected at $12,800/mo, with total pro forma income including parking projected at approximately $13,858/mo. Offered at $1,698,000, the property is priced at $424,500/unit and $478/SF with a 6.02% current cap rate and 8.23% pro forma cap rate. Current NOI is projected at $102,192 with pro forma NOI projected at $139,746. The vacant unit provides an immediate owner-user or lease-up opportunity with no buyout required for that unit. The property also received a brand-new roof and complete exterior repaint in 2025. Also available as part of a paired acquisition with adjacent 12314 Washington Pl. Unified ownership may unlock approved ADU plans and additional long-term upside. Buyer to verify all rents, expenses, parking income, market rent assumptions, ADU approvals, zoning, and development potential.

Listing courtesy of Taylor Avakian of Lyon Stahl Investment Real Estate, Inc.

Based on information from the The MLS as of 2026-07-27 08:27 AM UTC. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.