12314 & 12320 Washington Pl 2 Multifamily Properties Offered at $4,479,066 CAD in Los Angeles, CA

The LAAA Team of Marcus & Millichap, together with Coldwell Banker Global Luxury, is pleased to present the Washington Place Fourplexes — a pair of adjacent 1950 fourplexes on side-by-side parcels at 12314 & 12320 Washington Place. The offering totals 8 units, all 2BD/1BA of roughly 880 square feet each, comprising ±7,038 square feet of improvements on ±12,478 square feet of land with 8 parking spaces. Both parcels sit within the City of Culver City jurisdiction while carrying a Los Angeles 90066 mailing address — Culver City schools and services with a Westside location.
The heavy capital work is already done: both buildings received new roofs in 2025 ($50,740 spent) plus a full exterior repaint, per seller-signed 2025 operating statements. Occupied units average $2,093 per month against the $3,100 market estimate, roughly 48% upside on in-place rents. 12314 is fully occupied; 12320 delivers a vacant unit for an owner-user or immediate lease-up, plus $1,400 per month of parking income from its garages.
The seller reports approved ADU plans that convey with a combined purchase of both buildings — a unified-ownership unlock on two contiguous parcels (count and status to be verified by buyer with Culver City Building & Safety). Because each fourplex sits on its own legal parcel, the pairing can be financed, insured, and exited independently— widening the buyer pool to both the 1–4 unit residential-financing market and the 5+ unit commercial pool. Financing flexibility is further enhanced by an existing Chase loan of approximately $1,200,000 at a 3.91% interest rate that may be assumed by a qualified buyer — well below today’s prevailing rates (loan balance, terms, assumably to be verified with the lender).
At $3,196,000, the offering represents a 4.59% going-in cap rate and 13.91 GRM — $399,500 per unit and $454 per square foot — with a 7.05% pro forma cap rate at market rents, before any ADU contribution.