$2,175,000 Price Analysis   ♡   Venice, CA 90291 5 bed 5 bath 2,802 SqFt ($776/SqFt) 2,755SqFt lot. Built 1965 Listed 2024-04-29, Taxes $6,878 | Ⓧ 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 separa tely. 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 an 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 4.69% cap rate and 15.19 GRM.
With parking and outdoor space available for 3 out of 4 units, a buyer 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, providing n owner occupant the opportunity to combine them into a single, larger space. 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: 4.69
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 | $274,114 + $280,389 $554,503 | $6,878 |
| 2021 | $268,740 + $274,892 $543,632 | $6,779 |
| 2020 | $265,985 + $272,074 $538,059 | $6,845 |
| 2019 | $260,770 + $266,740 $527,510 | $6,582 |
| 2018 | $255,657 + $261,510 $517,167 | $6,531 |
| 2017 | $250,645 + $256,383 $507,028 | $6,395 |
| 2016 | $245,731 + $251,356 $497,087 | $6,228 |
| 2015 | $242,040 + $247,581 $489,621 | $6,140 |
| 2014 | $237,299 + $242,732 $480,031 | $6,184 |
| 2013 | $236,227 + $241,635 $477,862 | $6,178 |
| 2012 | $231,596 + $236,898 $468,494 | $6,261 |
| 2010 | $227,055 + $232,253 $459,308 | $6,142 |
| 2009 | $225,895 + $231,066 $456,961 | $5,916 |
| 2009 | $225,359 + $230,518 $455,877 | $5,916 |
| 2008 | $221,466 + $226,536 $448,002 | $5,670 |
| 2007 | $217,124 + $222,095 $439,219 | $5,480 |
$2,175,000
CRMLS
Listed 2024-04-29
$2,200,000
CRMLS
Listing removed 2014-02-14
$1,400
WestsideRentals
Price Changed for rent 2014-01-30
$1,400
WestsideRentals
Listed for rent 2014-01-09
$1,425
WestsideRentals
Sold 1979-08-17
$53,000
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
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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.