Description

Rare opportunity to acquire a well-positioned 4-unit income property with significant upside potential in a highly sought-after rental market. What truly sets this asset apart is the extensive groundwork already completed for future expansion. After nearly two years navigating the city approval process, the current ownership has successfully secured entitlements and approvals for two additional ADUs, creating the potential for a 10-unit development opportunity. The Ready-to-Issue (RTI) permits are pending final issuance, allowing a new owner to step into a project where the most time-consuming and challenging phase has already been completed. The property has also undergone major recent capital improvements, offering immediate value and minimizing near-term maintenance costs. A brand-new roof was installed in 2025, and the entire exterior was freshly painted, enhancing curb appeal while providing a clean, updated appearance throughout the property. Adding even greater long-term appeal, the property is being offered alongside the neighboring 4-unit property at 12320 Washington Pl under a separate listing. Controlling adjacent assets of this scale creates exceptional operational advantages while also opening the door to future redevelopment flexibility and larger-scale investment strategies. Whether the vision is to complete the approved ADUs for increased cash flow, renovate units over time to maximize rents, or hold a scalable multifamily asset in a strong rental corridor, this opportunity offers a compelling combination of stability, expansion potential, and long-term value in one of the market's most desirable investment locations.