A rare value-add opportunity in the very heart of Venice, just two short blocks from the sand. Positioned on a 5,749 SF corner lot, this fully occupied 8-unit multifamily property offers immediate income with compelling long-term upside in one of Southern California's most iconic coastal neighborhoods. The 3,360 SF building… Read More features an ideal unit mix of four 1-bedroom residences and four studio units, appealing to Venice's strong and diverse rental market. Recent improvements include a newly redone balcony to satisfy SB271 plus upgrading electrical sub-panels in the works. Two two-car garages, along with additional on-site parking, provide a valuable amenity rarely found this close to the beach. The garages present potential for ADU conversion (buyer to verify), offering a clear path to increased density and revenue. With upside potential in rents, this property stands as a compelling value-add investment. Unmatched in location, the property is just blocks from Venice Beach, the Boardwalk, Main Street, Rose Avenue, and Abbot Kinney, placing tenants at the center of Venice's celebrated lifestyle, dining, and culture. This is a distinctive opportunity to acquire a stabilized, income-producing asset with future growth potential in one of Los Angeles' most coveted coastal enclaves. Read Less
Property listed by Compass, Ashley Sackerman 310-259-7556
Listing Snapshot
Days Online
8
Last Updated
Beds
8
Square Ft.
3,360
Lot Size
0.13 Acres
Year Built
1956
MLS Number
26656335
Additional Details
Building
Built in 1956, Living area: 3360.0, 1 building, 2 stories, Levels: Two
Cooling
None
Disclosures
RentControl
Expenses
Gardener: $150, Water/Sewer: $750
Fireplaces
None
Garage
4 spaces
Heating
WallFurnace
Income
Gross Income: $167,484, Net Operating Income: $90,255
Laundry
None
Lot
0.132 acres, FrontYard
Parking
4 total parking spaces
Pool
None
Roof
Composition
Taxes
Parcel Number: 4286023026, Zoning: LARD1.5
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Based on information from California Regional Multiple Listing Service, Inc. as of and/or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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