12320 Washington Place, Culver City, California 90066

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.