2700 Abbot Kinney Blvd Venice, CA 90291
Active
$6,995,000
11%
15 Units
24 Beds
15 Baths
11,180 Area(sq.ft.)
14,073 Lot Size(sq.ft.)
| Type | # of Units | Bedroom | Bath | Furnished | Rent | Actual Rent | Projected Rent |
|---|---|---|---|---|---|---|---|
| Unit 1 | 9 | 2 | 1 | No | $ 2,185 | $ 19,662 | $ 30,555 |
| Unit 2 | 6 | 1 | 1 | No | $ 1,974 | $ 11,844 | $ 16,170 |
| 2 | 15 | 24 | 15 | $ 31,509 | $ 248,022 | $ 372,015 |
| MLS #: | 24-424311 |
| Days On Market: | 120 |
| County: | Los Angeles |
| Property Type: | Residential Income |
| Price per ft2: | $ 626 |
| Price per unit: | $ 466,333 |
| Year Built: | 1959 |
Property Details
Huge price reduction! We are pleased to offer for sale an incredible multifamily asset at 2700 Abbot Kinney Blvd. in the heart of LA's famed beach city of Venice. Originally built in 1959, the building boasts an incredibly rare unit mix consisting of 1 and 2 bedroom units. Each of these units are spacious and have a terrific floor plan. The property is situated on a large corner lot; thus, all units offer an abundance of natural light. There is HUGE rental upside, as current rents hover around $2.93/SF. Additionally, there is parking for all units as well as an on-site laundry facility. All units look out to a serene and beautifully landscaped courtyard, and residents enjoy being walking distance to the Venice Boardwalk and the beach. This is a fantastic trophy asset in an undeniably attractive location that will surely pay long-term dividends to a savvy investor. A walker's paradise, this rare offering presents an astute investor with the unique opportunity to capitalize on higher market rents and to acquire a premier turnkey asset in one of the best rental locations in all of Los Angeles.Interested in this Listing?
Miami Residence will connect you with an agent in a short time.
Income Details
| Rent Control: | 100% |
| Vacancy Rate: | 3% |
| Gross Operating Income: | $ 381,168 |
| Total Annual Expense: | $ 148,784 |
| Net Operating Income: | $ 221,041 |
| Gross Annual Income: | $ 378,072 |
| Gross Rent Multiplier: | 18.35 |
Structure
| Type of Units: | 2s,1s |
| Buildings: | 1 |
| Levels: | One |
Land & Parking
| Zoning: | LAR3 |
| Parking Garage: | Assigned |
| Total Parking: | 15 |
Interior
| AC/Cooling: | Wall/Window |
| Equipment: | None |
| Heating: | Wall |
Exterior
Detailed Map
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