$2150000 Price Analysis   ♡   Venice, CA 90291 5 bed 5 bath 2802 SqFt ($767/SqFt) 2755SqFt lot. Built 1965 Listed 2024-04-29, Taxes $6878 | Ⓧ USDA Ineligible due to price & location near Los Angeles |
For the first time in nearly five decades
2418 Pacific Ave is now on the market. The sellers own an identical 4-plex next door at 2420 Pacific and are open to offers on both properties, either together or separately. These exceptional A-Class Venice assets are on the walk streets of the Venice Canals and are mere seconds from the beach. This offering presents an outstanding opportunity for a n investor or owner-occupant to acquire a trophy asset in a highly desirable area of Venice Beach. The building boasts strong in-place rents and is being offered at a 4.78% cap rate and 14.95 GRM.
With parking and outdoor space available for 3 out of 4 units, a buyr will have ease when renting, minimizing vacancy loss. Each property is a 2, 802 square feet 4-unit building on a 2, 755- square foot lot. They feature one 3-br/2-ba unit with a patio and 2 parking spaces, one 2-br/1-ba unit with a large back deck and 2 parking spaces and 2 studio units with one parking space each and a patio. 2418 Pacific Ave will be delivered with two vacant units, a vacant 2-bedroom and a vacant studio, both of which are situated on the same level. 2420 Pacific Ave will be delivered fully occupied and is generating 151, 000 in rental income.
Presented by Cameron Samimi at
Lyon Stahl Investment Re, Inc.
Property MLS #SB24081257 from CRMLS
Lot Size Acres: 0.0632461
Lot Size Source: Assessor
Lot Size Square Feet: 2755
Bedrooms in Unit-1: 3
Bedrooms in Unit-2: 2
Total Bathrooms in Unit-1: 2
Total Bathrooms in Unit-2: 1
Total Bathrooms in Unit-3: 1
Total Bathrooms in Unit-4: 1
County: Los Angeles
Cap Rate: 4.78
Source Property Type: Residential Income
Area: C11 - Venice
Source Neighborhood: C11 - Venice
Number of Separate Electric Meters: 4
Number of Separate Gas Meters: 4
Number of Separate Water Meters: 1
Parcel Number: 4227004038
Zoning: LARD1.5
Source System Name: C2C
| Year | Assessments Building + Land Total | Tax |
|---|---|---|
| 2022 | $274114 + $280389 $554503 | $6878 |
| 2021 | $268740 + $274892 $543632 | $6779 |
| 2020 | $265985 + $272074 $538059 | $6845 |
| 2019 | $260770 + $266740 $527510 | $6582 |
| 2018 | $255657 + $261510 $517167 | $6531 |
| 2017 | $250645 + $256383 $507028 | $6395 |
| 2016 | $245731 + $251356 $497087 | $6228 |
| 2015 | $242040 + $247581 $489621 | $6140 |
| 2014 | $237299 + $242732 $480031 | $6184 |
| 2013 | $236227 + $241635 $477862 | $6178 |
| 2012 | $231596 + $236898 $468494 | $6261 |
| 2010 | $227055 + $232253 $459308 | $6142 |
| 2009 | $225895 + $231066 $456961 | $5916 |
| 2009 | $225359 + $230518 $455877 | $5916 |
| 2008 | $221466 + $226536 $448002 | $5670 |
| 2007 | $217124 + $222095 $439219 | $5480 |
$2150000
CRMLS
Price Changed 2024-06-06
$2175000
CRMLS
Listed 2024-04-29
$2200000
CRMLS
Listing removed 2014-02-14
$1400
WestsideRentals
Price Changed for rent 2014-01-30
$1400
WestsideRentals
Listed for rent 2014-01-09
$1425
WestsideRentals
Sold 1979-08-17
$53000
Public Record
Year Built: 1965
Building Features: 1
Common Walls: 2+ Common Walls
Entry Level: 1
Entry Location: Front
Property Age: 59
Property Attached: Yes
Building Total Stories: 2
Structure Type: Quadruplex
Year Built Source: Assessor
Water Source: Public
Map directions Map directions Map directions Map directions Map directions
 |  |  |  |  |
 |  |  |  |  |
 |  |  |  |
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.