12535 Pacific Ave

Highlights:

• 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.

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.