12535 Pacific Ave
- Assumable 4.48% Chase Loan. About 2.5 years of fixed-rate financing remain, subject to Chase’s approval of the buyer.
- 34% Rental Upside. In-place rents on occupied units leave room for rent growth as those units turn.
- Soft-Story Retrofit Complete. Steel cantilever columns at the tuck-under parking, with a Certificate of Compliance issued 08/03/2018.
- One Ownership Since 1985. Current ownership has held the property since the June 1985 purchase.
- Updated Unit Interiors. Select units have granite counters, stainless appliances and plank or tile floors.
Property Description
The LAAA Team of Marcus & Millichap is pleased to present 12535 Pacific Avenue, a nine-unit apartment building in Mar Vista. A qualified buyer may assume the existing Chase loan at 4.48%, fixed through 06/01/2029, subject to Chase's approval. Built in 1962, the two-story wood-frame building holds one single, four one-bedroom, one-bath units and four two-bedroom, two-bath units in 6,404 square feet on a 6,992-square-foot R3-1 lot, with tuck-under parking. All nine units are registered under the Los Angeles Rent Stabilization Ordinance.
The investment case is stabilized income with rent growth as long-term tenancies turn. Four units leased between November 2025 and September 2026 at $1,950 to $2,750 a month, and four tenancies in place since 2014 or earlier hold the building's rent upside. Major building work is already complete: the soft-story retrofit, dual-glazed windows and an earthquake gas shutoff valve.
The offering suits 1031 exchange buyers and private investors looking for Westside rental income with fixed-rate financing in place, within a short drive of the Playa Vista, Culver City and Santa Monica job centers.
Key Property Information
| Listing Status: | Available |
|---|---|
| Property Types: | Apartment Buildings |
| Price: | $2,150,000 |
| No. of Units: | 9 |
| Cap Rate: | 5.23% |
| GRM /GIM: | 10.76 |
| Year Built: | 1962 |
| Building Size: | 6,404 Sq ft |
| Lot Size: | 0.16 Acres |
| Opportunity Zone: | No |
| Price per unit: | $238,889 |
Additional contacts
| Full name | Phone number | Email address |
|---|---|---|
| Logan Ward | 818-212-2675 | [email protected] |
| Glen Scher | 818-212-2808 | [email protected] |
| Filip Niculete | 818-212-2748 | [email protected] |
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