16 Fleet Street, Marina Del Rey, CA 90292
- $4,825,000
- Sold Price
- $4,825,000
- List Price
- $4,999,999
- Closing Date
- Aug 30, 2023
- Status
- CLOSED
- MLS#
- PW23049920
- Year Built
- 1971
- Lot Size
- 6,301
- Lot Location
- Item610UnitsAcre
- Days on Market
- 155
- Property Type
- Multifamily
Property Description
16 Fleet Street is a well positioned 10-unit apartment building situated on the highly sought-after Peninsula of Marina Del Rey, just one lot from the sand. The property boasts a mix of (4) 2-bed/2-bath units, (4) 1-bed units, and (2) Bachelor units. (6) Units feature private balconies/patios. Tenants enjoy ample parking, on-site laundry and a bike storage room, as well as a large private yard facing a walk-street. Great proximity to the Marina and Venice Pier areas provides easy access to a range of retail and restaurant establishments. The building offers 8,040 RSF of living space priced at $621/SF and $499,999 per unit, with a 17.5 GRM and 3.74% CAP (Proforma 11.5 GRM and 6.43% CAP) presenting immediate upside potential. With its premier location, sizeable living space, and attractive pricing, 16 Fleet Street is an excellent and rare investment opportunity for any Los Angeles CRE Investor.
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Additional Information
- Pool Description
- None
- View
- Ocean
- Garage Spaces Total
- 10
- Sewer
- Public Sewer
- Water
- Public
- Terms
- Conventional
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Listing courtesy of Listing Agent: J.Woody Stahl (woody@lyonstahl.com) from Listing Office: Lyon Stahl Investment Real Est.
Listing sold by Woody Stahl from Lyon Stahl Investment Real Est
Based on information from California Regional Multiple Listing Service, Inc. as of . 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.