12 Catamaran Street

    Marina Del Rey, CA 90292
    • $2,900,000
    • STATUS: Pending
    • ON SITE: 206 days
    • ID#: SB19257683
    Pending
    UPDATED: 34 min ago
    $2,900,000
    • 0
      BEDS
    • 0.07
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 2,996
      SQFT
    • $968
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1965
    County:

    School Ratings & Info

    Description

    We are pleased to present 12 Catamaran Street, located in one of the most sought-after markets of Los Angeles-Marina del Rey. This 2,996 SF building was built in 1964 and is situated on a 3,071 SF lot. The property is comprised of two (2) two-bedroom/one-and-a-half-bathroom, one (1) one-bedroom/one-bathroom, and one (1) studio units. Three of the four units will be delivered vacant and the fourth unit can be vacated April of 2020, offering an investor or owner-user immediate rental upside. 12 Catamaran Street is EXEMPT FROM LOS ANGELES CITY RENT CONTROL, Seller can provide Certificate of Exemption. Additionally, the new vinyl windows were installed in 205 offering sound-proofing for all of the units. Ideally located, steps from the beach and a few blocks from Washington Boulevard, lined with renowned restaurants and bars - this opportunity will not last long. The property offers an astute investor or owner-user the opportunity to acquire a multifamily asset in one of the most desirable neighborhoods in all Southern California. By implementing a light renovation program and filling the units at market rents, 12 Catamaran Street is a truly unique and lucrative investment.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2020-05-29T16:30:28.07. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Z Team OC Real Estate | Keller Williams Realty. Licensed in the State of California, USA.

    www.homefinderorangecounty.com/homes/100548615

    12 Catamaran Street Marina Del Rey, CA 90292

    • Price: $2,900,000
    • Status: Pending
    • Updated: 34 min ago
    • ID#: SB19257683
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.07
    Acres
    2,996
    SQFT
    $968
    $/SQFT
    1965
    Built
    Neighborhood:
    C12 - Marina Del Rey
    County:
    Los Angeles
    Area:
    C12 - Marina Del Rey
    Property Description
    We are pleased to present 12 Catamaran Street, located in one of the most sought-after markets of Los Angeles-Marina del Rey. This 2,996 SF building was built in 1964 and is situated on a 3,071 SF lot. The property is comprised of two (2) two-bedroom/one-and-a-half-bathroom, one (1) one-bedroom/one-bathroom, and one (1) studio units. Three of the four units will be delivered vacant and the fourth unit can be vacated April of 2020, offering an investor or owner-user immediate rental upside. 12 Catamaran Street is EXEMPT FROM LOS ANGELES CITY RENT CONTROL, Seller can provide Certificate of Exemption. Additionally, the new vinyl windows were installed in 205 offering sound-proofing for all of the units. Ideally located, steps from the beach and a few blocks from Washington Boulevard, lined with renowned restaurants and bars - this opportunity will not last long. The property offers an astute investor or owner-user the opportunity to acquire a multifamily asset in one of the most desirable neighborhoods in all Southern California. By implementing a light renovation program and filling the units at market rents, 12 Catamaran Street is a truly unique and lucrative investment.
    Exterior Features

    Garage Spaces 3.00 Lot Features 0-1 Unit/Acre Lot Size Units Square Feet Parking Total 7.00 Pool Features None Pool Private YN No Property Attached YN Yes

    Interior Features

    Average Studio Area Units Square Feet Average1 Bed Area Units Square Feet Average2 Bed Area Units Square Feet Average3 Bed Area Units Square Feet Common Walls 2+ Common Walls Laundry Features Common Area

    Property Features

    Additional Parcels YN No Building Area Units Square Feet Cap Rate 4.93 Community Features Urban Country Us Electric Expense 650.00 Elevation Units Feet Garage Income 1000.00 Gardener Expense 1200.00 Gross Income 195000.00 Gross Multiplier 16.12 Gross Operating Income 189510.00 Gross Scheduled Income 183000.00 Insurance Expense 1198.00 Land Lease YN No Laundry YN Yes Maintenance Expense 2600.00 Net Operating Income 145507.00 New Construction YN No New Taxes Expense 36205.00 Number Of Separate Electric Meters 4 Number Of Separate Gas Meters 4 Number Of Separate Water Meters 1 Number Of Units Leased 1 Operating Expense 44003.00 Operating Expense Percent 23.22 Pest Control Expense 200.00 Rent Control YN No Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Tenant Pays Cable TvElectricityGas Total Actual Rent 23280.00 Total Expenses 43353.00 Trash Expense 650.00 Vacancy Allowance 5490 Vacancy Allowance Rate 3.00 Water Sewer Expense 650.00 Water Source Public Year Built Source Public Records Zoning Lar3

    Listing provided courtesy of Nico Rosmarin of Lyon Stahl Investment Real Estate, Inc. and Molly First of


    Based on information from California Regional Multiple Listing Service, Inc. as of 2020-05-29T16:30:28.07. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Z Team OC Real Estate | Keller Williams Realty. Licensed in the State of California, USA.

     
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