315 Vernon Ave Venice, CA 90291
Active
$5,400,000
8%
6 Units
11 Beds
8.50 Baths
4,826 Area(sq.ft.)
12,008 Lot Size(sq.ft.)
| Type | # of Units | Bedroom | Bath | Furnished | Rent | Actual Rent | Projected Rent |
|---|---|---|---|---|---|---|---|
| Unit 1 | 1 | 3 | 2 | No | $ 5,616 | $ 5,616 | $ 5,900 |
| Unit 2 | 1 | 2 | 2 | No | $ 5,720 | $ 5,720 | $ 5,775 |
| Unit 3 | 2 | 2 | 1 | No | $ 5,350 | $ 10,700 | $ 10,800 |
| Unit 4 | 1 | 1 | 1.50 | No | $ 4,467 | $ 4,467 | $ 4,500 |
| Unit 5 | 1 | 1 | 1 | No | $ 3,795 | $ 3,795 | $ 3,995 |
| 5 | 6 | 11 | 9 | $ 30,298 | $ 40,998 | $ 41,770 |
| MLS #: | 24-357403 |
| Days On Market: | 231 |
| County: | Los Angeles |
| Property Type: | Residential Income |
| Price per ft2: | $ 1,119 |
| Price per unit: | $ 900,000 |
| Year Built: | 1922 |
Property Details
*** 3rd Price Reduction - $750,000 from original listed price *** The Villas of Venice are an eclectic collection of 6 masterfully Craftsman bungalows built in 1906 & 1922 and completely restored to their original charm. Set on an idyllic resort-like lot, creating a private hideaway yet located steps from Venice Beach and Abbot Kinney Blvd. Each bungalow was masterfully restored to showcase classic Craftsman bungalow architecture while adding a fun eclectic design twist. Classic Hollywood Golden era accents including deep green colored cabinets, brass hardware, and a Hollywood Regency style chandelier add a true retro glamour factor to one of the restored kitchens. The extensive use of subway tiles in kitchens and baths creates a retro vibe for today. Breakfast nooks and window seats make these the perfect casual beach bungalows. Each bright and spacious unit features hardwood floors, exposed beams, and ornate detailing in the kitchen and bathroom. Unit interiors include stainless steel appliances, central A/C, and heat, and in-unit washer and dryer. Shared outdoor living space creates community here. The Villas of Venice is part of the Golden Era Collection, four impeccably restored multifamily complexes in prime Los Angeles locations.Interested in this Listing?
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Income Details
| Rent Control: | Yes, 100% |
| Gross Operating Income: | $ 354,484 |
| Total Annual Expense: | $ 106,300 |
| Net Operating Income: | $ 248,148 |
| Gross Annual Income: | $ 363,574 |
| Cap Rate: | 4.73% |
| Gross Rent Multiplier: | 14.44 |
Structure
| Type of Units: | Bungalows |
| Buildings: | 5 |
| Levels: | Two |
| Security Features: | Card/Code Access, Gated |
| Style: | California Bungalow |
| View Description: | None |
Land & Parking
| Zoning: | LARD1.5 |
| Parking Garage: | Garage - 2 Car, Side By Side, Uncovered |
Interior
| AC/Cooling: | Wall Unit(s) |
| Equipment: | Built-Ins, Dishwasher, Dryer, Washer, Garbage Disposal, Range/Oven, Hood Fan, Refrigerator |
| Heating: | Wall |
| Laundry: | In Unit |
Exterior
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