209 4th Ave Venice, CA 90291
Pending
$3,500,000
6 Units
12 Beds
12 Baths
6,850 Area(sq.ft.)
5,432 Lot Size(sq.ft.)
| Type | # of Units | Bedroom | Bath | Furnished | Rent | Actual Rent | Projected Rent |
|---|---|---|---|---|---|---|---|
| Unit 1 | 1 | 2 | 1.75 | No | $ 3,868 | $ 3,868 | $ 3,995 |
| Unit 2 | 1 | 2 | 1.75 | No | $ 2,303 | $ 2,303 | $ 3,600 |
| Unit 3 | 1 | 2 | 1.75 | No | $ 3,951 | $ 3,951 | $ 3,995 |
| Unit 4 | 1 | 2 | 1.75 | No | $ 4,152 | $ 4,152 | $ 4,200 |
| Unit 5 | 1 | 2 | 1.75 | No | $ 3,750 | n/a | $ 3,750 |
| Unit 6 | 1 | 2 | 1.75 | No | $ 2,792 | $ 2,792 | $ 4,500 |
| 6 | 6 | 12 | 12 | $ 20,816 | $ 17,066 | $ 24,040 |
| MLS #: | 24-444923 |
| Days On Market: | 45 |
| County: | Los Angeles |
| Property Type: | Residential Income |
| Price per ft2: | $ 511 |
| Price per unit: | $ 583,333 |
| Year Built: | 1973 |
Property Details
Rare opportunity to buy a well built and maintained building. Most units have ocean and/or neighborhood views. One upper view unit held open for possible owner occupancy. 6 bright, spacious 2BR/1.75 BA units- 1 with loft. 2-car gated parking for each unit. Location forms a Triangular Tapestry of unparalleled amenities supporting a coveted pedestrian lifestyle; Beaches to the west; Venice's Rose Avenue to the South and Main Street to the North, featuring an urban melange of vibrant dining options, artisanal boutiques and specialty shops. Building subject to Los Angeles (not Santa Monica) rent control. Anniversary date of last rent increase will be 3/1/2025. Occupied units shown with acceptable offer. Drone video available in video links. Photos offer a good visual representation of the views from different units. Seller states earthquake retrofit completed well in excess of current minimum standards.Interested in this Listing?
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Income Details
| Rent Control: | Yes |
| Vacancy Rate: | 5% |
| Gross Operating Income: | $ 249,787 |
| Total Annual Expense: | $ 99,550 |
| Net Operating Income: | $ 150,237 |
| Gross Annual Income: | $ 249,787 |
| Cap Rate: | 4.29% |
| Gross Rent Multiplier: | 14.01 |
| Actual Gross Rent: | $ 249,787 |
Structure
| Amenities: | None |
| Type of Units: | Apartments |
| Buildings: | 1 |
| Levels: | Three Or More |
| Security Features: | Gated |
| Style: | Traditional |
| Sewer: | In Street |
| View Description: | Ocean, City |
| Water: | Public |
Land & Parking
| Zoning: | LARD1.5 |
| Parking Garage: | Community Garage, Driveway |
| Total Parking: | 12 |
Interior
| Cooking Appliances: | Range Hood, Range, Oven |
| AC/Cooling: | None |
| Equipment: | Dishwasher, Range/Oven, Refrigerator |
| Heating: | Other |
| Fireplace Rooms: | Bath |
Exterior
| Exterior Construction: | Stucco |
| Pool: | No |
| Spa: | No |
Detailed Map
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