$1,750,000 Price Analysis   ♡   Venice, CA 90291 0 bed 4 bath 2,564 SqFt ($682/SqFt) 2,230SqFt lot. Built 1910 Listed 2024-06-18, Taxes $20,981 | Ⓧ USDA Ineligible due to price & location near Los Angeles |
Amazing opportunity to acquire a turnky high-vacancy bread-and-butter Venice Beach fourplex on a corner street-to-alley lot less than 1/4 mile from the sand.
* Has Contingent Offer *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 vast one-bedroom units that have consistently produced market rents (and that enjoy turnover 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 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, 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, 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.
Presented by Vivian Chaing at
Property Concierge.
Property MLS #24-405009 from TheMLSCLAW
Full Bathrooms: 4
Heating Features: Wall Gas
Lot Size Acres: 0.0511938
Lot Size Source: Vendor Enhanced
Lot Size Square Feet: 2230
Parking Total: 2
Calculated Total Monthly Association Fees: 0
Number of Units: 4
Unit Features: 1 BathsTotal: 1, 1 SquareFeet: 2900, 2 BedsTotal: 1, 2 BathsTotal: 1, 2 SquareFeet: 3050, 3 BathsTotal: 1, 3 SquareFeet: 2900, 4 BedsTotal: 1, 4 BathsTotal: 1, 4 SquareFeet: 2900
Tenant Pays: Electric, Gas, Trash, Cable TV
County: Los Angeles
Cap Rate: 6.7
Directions: North of Windward Circle, east of Main St, west of Abbot Kinney.
Source Property Type: Residential Income
Area: Venice
Source Neighborhood: Venice
Number of Separate Electric Meters: 4
Number of Separate Gas Meters: 4
Owner Pays: Water
Parcel Number: 4238-013-034
Postal Code Plus 4: 3720
Zoning: LARD1.5
Source System Name: C2C
| Year | Assessments Building + Land Total | Tax |
|---|---|---|
| 2022 | $486,868 + $1,282,424 $1,769,292 | $20,981 |
| 2021 | $477,322 + $1,257,279 $1,734,601 | $20,722 |
| 2020 | $472,428 + $1,244,388 $1,716,816 | $20,938 |
| 2019 | $463,165 + $1,219,989 $1,683,154 | $20,099 |
| 2018 | $454,084 + $1,196,068 $1,650,152 | $20,037 |
| 2017 | $445,181 + $1,172,616 $1,617,797 | $19,601 |
| 2016 | $436,452 + $1,149,624 $1,586,076 | $19,166 |
| 2015 | $429,897 + $1,132,356 $1,562,253 | $18,884 |
| 2014 | $222,955 + $780,354 $1,003,309 | $12,520 |
| 2013 | $221,948 + $776,828 $998,776 | $12,515 |
| 2012 | $217,597 + $761,597 $979,194 | $12,682 |
| 2010 | $213,331 + $746,664 $959,995 | $12,409 |
| 2009 | $212,241 + $742,845 $955,086 | $11,953 |
| 2009 | $211,737 + $741,084 $952,821 | $11,953 |
| 2008 | $208,080 + $728,280 $936,360 | $11,438 |
| 2007 | $204,000 + $714,000 $918,000 | $11,064 |
$1,750,000
TheMLSCLAW
Listing removed 2024-03-09
$0
TheMLSCLAW
Listed for rent 2024-02-13
$2,750
TheMLSCLAW
Listing removed 2024-02-02
$0
TheMLSCLAW
Listing removed 2024-01-25
$2,800
TheMLSCLAW
Listing removed 2024-01-25
$2,500
TheMLSCLAW
Listed for rent 2023-12-02
$2,850
TheMLSCLAW
Listing removed 2007-04-23
$1,395,000
ITECH
Listed 2007-02-22
$1,395,000
ITECH
Sold 2005-07-28
$900,000
Public Record
Listing removed 2005-01-02
$1,100,000
ITECH
Listed 2004-08-24
$1,100,000
ITECH
Year Built: 1910
Direction Faces: North, West
Levels: Two Level
Living Area Source: Vendor Enhanced
Property Age: 114
Roof: Shingle
Levels or Stories: 2
Building Total Stories: 2
House Style: Craftsman
Year Built Source: Vendor Enhanced
Architectural Style: Craftsman
Security Features: Carbon Monoxide Detector(s), Smoke Detector
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The property loan eligibility may be subject to additional requirements beyond geographical location including but not limited to the condition of the property. Speak with a real estate professional to find out more about the eligibility of a specific property.