Located just one block from the sand at Venice Beach, this rare two parcel offering combines seven highly desirable units in one of Los Angeles' most iconic coastal neighborhoods. The unit mix includes one 1BR/1.5BA, four 1BR/1BA units, one studio, and a standalone 1BR/1BA cottage situated on the adjacent parcel… Read More at 1007 Pacific .In addition to its premier location, the property provides exceptional privacy and security with fenced and gated entry. A private, fenced courtyard at the front of the property serves as a shared outdoor space, while the rear area offers ample room for tenants to park and secure bicycles, the preferred mode of transportation at the beach. At the list price, the asset delivers a 4.34% cap rate with a pro forma cap rate of 5.43%, supported by competitive pricing metrics of $314,000 per door and $555 per square foot, strong for a beach adjacent property . There may also be potential to subdivide the parcels for resale or owner/user occupancy, subject to verification with the City of Venice. Read Less
Property listed by Lyon Stahl Investment Real Estate, Inc., Keith Moret 310-259-7556
Listing Snapshot
Days Online
11
Last Updated
Beds
6
Square Ft.
3,964
Lot Size
0.07 Acres
Year Built
1907
MLS Number
26811603
Additional Details
Appliances & Equipment
Disposal
Building
Built in 1907, Living area: 3964.0, 2 buildings, 2 stories, Levels: MultiSplit
Cooling
None
Heating
NaturalGas
Income
Gross Income: $167,902, Net Operating Income: $95,372
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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