605 Indiana Ave Venice, CA 90291
Active
$3,500,000
5%
3 Units
7 Beds
6 Baths
2,638 Area(sq.ft.)
5,019 Lot Size(sq.ft.)
| Type | # of Units | Bedroom | Bath | Furnished | Rent | Actual Rent | Projected Rent |
|---|---|---|---|---|---|---|---|
| Unit 1 | 605 | 3 | 2 | No | $ 6,600 | $ 6,600 | $ 7,000 |
| Unit 2 | 607 | 2 | 2 | No | $ 5,600 | $ 5,600 | $ 5,600 |
| Unit 3 | 609 | 2 | 2 | No | $ 3,850 | $ 3,850 | $ 4,000 |
| 3 | 1821 | 4247 | 3642 | $ 9,736,850 | $ 9,736,850 | $ 10,070,200 |
| MLS #: | 24-447325 |
| Days On Market: | 49 |
| County: | Los Angeles |
| Property Type: | Residential Income |
| Price per ft2: | $ 1,327 |
| Price per unit: | $ 1,166,667 |
| Year Built: | 1921 |
Property Details
This exceptional property presents a remarkable opportunity for investors seeking high rental yields or owner-users wishing to live in one unit while generating income from the others. Each unit has undergone a significant remodel in 2014, featuring beautiful distressed hardwood floors, farmhouse closet doors, custom cabinetry, and modern kitchens and bathrooms equipped with Caesarstone countertops and stainless steel appliances. The property boasts enhanced privacy with new landscaping, a secure electric gate, and dedicated parking for each unit. Unit 605 is the front Bungalow which is a spacious 3 bed, 2 bath home with a loft in one bedroom, cathedral ceilings in the living room, and a private front yard ideal for Venice Beach's indoor-outdoor lifestyle. Comes with 2 dedicated parking spaces & private laundry area. Unit 607 is a 2 bed, 2 bath layout featuring a private covered outdoor deck and its own entrance, along with designated parking & in unit stacked laundry .Unit 609 is the upper 2 bed, 2 bath space offers stunning roofline views and includes a dedicated parking space and separate pedestrian gate access w/ in unit laundry. Thanks to its prime location, just a short walk or bike ride from Abbot Kinney Blvd, Rose Ave, Lincoln Blvd, and the beach, these units consistently attract high market rents shortly after listing. Additionally, the duplex portion of the property is not subject to the Rent Stabilization Ordinance (RSO) as this was completed in 2014 per LADBS. Don't miss this rare opportunity to invest in a highly desirable Venice property! Contact the listing agent for more details.Interested in this Listing?
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Income Details
| Gross Operating Income: | $ 192,600 |
| Total Annual Expense: | $ 61,846 |
| Net Operating Income: | $ 130,754 |
| Gross Annual Income: | $ 192,600 |
| Gross Rent Multiplier: | 18.10 |
Structure
| Type of Units: | Mixed |
| Buildings: | 2 |
| Levels: | Two |
| Style: | Bungalow |
Land & Parking
| Zoning: | LARD1.5 |
| Parking Garage: | Assigned, Driveway, Driveway - Concrete, Parking Space, On street, Gated, Private |
Interior
| AC/Cooling: | Central, Wall Unit(s) |
| Equipment: | Cable, Built-Ins, Ceiling Fan, Dishwasher, Garbage Disposal, Microwave, Refrigerator, Range/Oven, Washer, Other, Dryer, Vented Exhaust Fan |
| Heating: | Central |
Exterior
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