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Key Details
Sold Price $1,666,500
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Square Footage 2,564 sqft
Price per Sqft $649
MLS Listing ID 24405009
Sold Date 08/30/24
HOA Y/N No
Year Built 1910
Lot Size 2,230 Sqft
Property Description
Amazing opportunity to acquire a turnkey high-vacancy bread-and-butter Venice Beach fourplex on a corner street-to-alley lot less than 1/4 mile from the sand. Located in a vibrant and robust rental market fully immersed in one of the highest concentrations of tech and creative residents of Silicon Beach, this location is poised to command consistent and growing cash flows for the foreseeable future and beyond. Perfect for an investor looking to park money in an insulated trophy location, the property itself houses four spacious one-bedroom units that have consistently produced market rents (and that enjoy turnover just often enough to stay on pace with submarket rent growth), and bolster the bottom line with additional parking income to boot. Adjacent to a swathe of luxury residential homes and just a hop-skip away from Abbot Kinney (literally crowned "the coolest block in America" in GQ's Style Bible), this building also presents an opportunity for an owner-occupant to subsidize mortgage payments with rents while waxing inspiration in the buzzing cultural mecca that is Venice. Just a stone's throw to Rose Corridor and Main Street, just blocks to the sand, and billed as both a Walker's and Biker's Paradise, positively everything is within reach. Less than a mile from Marina del Rey, just two miles from Santa Monica, this building also enjoys easy access to the rest of the Westside Los Angeles via nearby Highway 1, 10 and 405 freeways, and access to the rest of the world via nearby LAX Airport. Located in a Tier 3 TOC Zone, the location may provide certain incentives for a developer looking to build something with a bigger footprint.
Location
State CA
County Los Angeles
Area C11 - Venice
Zoning LARD1.5
Interior
Fireplaces Type None
Fireplace No
Appliance Refrigerator
Exterior
Parking Features Side By Side
Pool None
Roof Type Shingle
Total Parking Spaces 2
Private Pool No
Building
Lot Description Front Yard
Faces North
Story 2
Entry Level Two
Architectural Style Craftsman
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 4238013034
Security Features Carbon Monoxide Detector(s),Smoke Detector(s)
Special Listing Condition Standard
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Bought with Jessica Steier • Property
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Adrian Castillo
Principal/Realtor | CA DRE#01308935
Principal/Realtor CA DRE#01308935