740 Washington Boulevard, Marina del Rey, 90292

REDUCED 2% Residential Income For Sale

$1,499,000

Beds
Baths
1,140Sqft
.06Acres
2Garages
1953Built
89DOM
MLS® #: SB19117865
Active, 89 Days on Market

PRICE REDUCED $50k best priced duplex listing in the Marina presently with very unique flex commercial C2/R4 zoning... Presenting an interesting value-add duplex listing at 740 Washington Blvd, Marina del Rey 90292. Featuring a front 1 Bedroom 1 Bath unit with a private front yard currently renting for $1,194/mth & a rear 2 Bedroom 2 Bath unit rented for $2,995/mth for a current gross income of $4,189/month; $50,268/year. At our recently reduced $1.499 asking price, the property is priced at: $749,500/unit; a 29.82 current GRM; a 19.22 market GRM; a 1.72% current CAP; a 3.41% market CAP, and $1,315/SF. The property is legally a triplex so an astute buyer could add significant income/value by converting the rear 2+2 unit to two 1+1 units or adding additional square footage. With proforma market rents on 1 Bedroom units locally averaging approx. $3,000/mth, there is significant upside potential here once the existing tenants vacate. The property also has a large two-car garage in the rear alley. Unique 2,500sf lot with commercial C2/R4 zoning allowing for a wide variety of mixed-uses & live/work opportunities. Located an A+ location at the heart of Silicon Beach & only a short walk or bike ride from all of the Marina & Venice's hippest restaurants; shops; bars; entertainment; outdoor activities & the beach. Walking distance to Coeur d' Alene Avenue School & St. Mark School, as well as Triangle Park & the Marvin Braude Bike Path.

Price & Status History

Date Details
Price Reduced from $1,525,000 to $1,499,000
Price Reduced from $1,550,000 to $1,525,000

Essential Information

MLS® #: SB19117865
Price: $1,499,000
Square Footage: 1,140
Acres: 0.06
Year Built: 1953
Type: Residential Income
Status: Active

Community Information

Address: 740 Washington Boulevard
County: Los Angeles
State: CA
Zip Code: 90292

Amenities

Parking Spaces: 2
# of Garages: 2

Interior

Appliances: None
# of Stories: 1
Stories: One Level

Exterior

Lot Description: 0-1 Unit/Acre

Additional Information

Date Listed: May 20th, 2019
Days on Market: 89
Zoning: LAC2

Listing Details

Listing Agent: Matthew Dunfrund(01785161)
Listing Office: Lyon Stahl Investment Real Estate, Inc.

Financials

$/SqFt: $1,315

Welcome to this 0 bedroom 0 bath Residential Income in the Marina Del Rey (C12) section of Marina del Rey located at 740 Washington Boulevard built in 1953. It is 0 square feet and the current asking price is $ 1,499,000.

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Based on information from California Regional Multiple Listing Service, Inc. as of August 19th, 2019 at 3:52am PDT. 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 usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.