Situated in a prime Venice location north of Abbot Kinney Blvd, 616 Sunset Ave presents a well-positioned 4-unit multifamily opportunity with additional development upside in one of Los Angeles’ most sought-after coastal submarkets. The property features classic Spanish-style architecture and consists of (4) 2-bedroom / 1-bath units totaling approximately 3,224… Read More square feet on a 4,802 square foot lot.
The units have undergone extensive renovations under current ownership, including new 100-amp electrical panels in each unit, recessed lighting, new outlets and switches, new flooring, new drywall and paint throughout, and updated smoke detectors. Kitchens have been upgraded with new countertops, cabinetry, dishwashers, refrigerators, stoves, and vent hoods, while bathrooms feature new showers, tile, and vanities. Each unit is equipped with in-unit stackable washer and dryer systems, significantly enhancing tenant appeal. Second-story units include private balconies with west-facing windows providing strong natural light and ocean breezes, and a shared outdoor patio area further enhances livability.
In addition to the stabilized in-place income, ownership has commissioned plans for a detached two-story duplex ADU (Buyer to Verify Feasibility & Permitting) totaling approximately 965 square feet, designed as (2) 1-bedroom / 1-bath units above a new carport structure. The proposed improvement would increase the total unit count from four to six units and expand total living area to approximately 4,356 square feet, creating meaningful long-term income growth potential.
The property includes on-site parking for seven vehicles, a new trash enclosure, and a new roof installed in 2022. Currently offering a 4.39% cap rate, 616 Sunset Ave combines comprehensive capital improvements, strong in-place returns, and clear value-add potential in one of Venice’s most desirable neighborhoods. Read Less
Property listed by Lyon Stahl Investment Real Estate, Inc., Brett Lyon 310-259-7556
Listing Snapshot
Days Online
18
Last Updated
Property Type
MixedUse
Lot Size
0.11 Acres
Year Built
1960
MLS Number
SB26039701
Additional Details
Appliances & Equipment
Dryer, Washer
Building
Built in 1960, 1 building, 2 stories, Levels: Two, Entry level: 1, Entry location: Front Gate
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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