616 Sunset AVE Venice, CA 90291
Pending
$1,750,000
4 Units
8 Beds
4 Baths
3,224 Area(sq.ft.)
4,802 Lot Size(sq.ft.)
| Type | # of Units | Bedroom | Bath | Furnished | Rent | Actual Rent | Projected Rent |
|---|---|---|---|---|---|---|---|
| Unit 1 | 1 | 2 | 1 | No | $ 3,500 | $ 3,500 | $ 3,500 |
| Unit 2 | 1 | 2 | 1 | No | $ 3,500 | $ 3,500 | $ 3,500 |
| Unit 3 | 1 | 2 | 1 | No | $ 1,341 | $ 3,500 | $ 3,500 |
| Unit 4 | 1 | 2 | 1 | No | $ 3,500 | $ 3,500 | $ 3,500 |
| 4 | 4 | 8 | 4 | $ 11,841 | $ 14,000 | $ 14,000 |
| MLS #: | SB24202217MR |
| Days On Market: | 10 |
| County: | Los Angeles |
| Property Type: | Residential Income |
| Price per ft2: | $ 543 |
| Price per unit: | $ 437,500 |
| Year Built: | 1960 |
Property Details
Situated in the vibrant heart of Venice, 616 Sunset Ave stands as an exceptional opportunity for an investor aiming to enhance their portfolio with a prime asset. This charming 4-unit apartment building features classic Spanish-style architecture, each unit offering 2 bedrooms and 1 bathroom. Scrupulously maintained and in great condition, these units span a total of 3,224 square feet on a 4,802 square foot lot. The property boasts attractive walkways, and conveniently-designed plantings and shared outdoor patio space, providing tenant satisfaction with minimal maintenance required from the owner. Second-story units feature highly desirable balconies with pleasant views, complemented by west-facing windows that invite a refreshing ocean breeze. The parking lot for 7 cars is made of low-maintenance, long lasting concrete providing ease of ownership and convenience for tenants. Its enviable location in Venice means it's just a short walk to world-class retail and dining on Rose Ave and less than a 5-minute drive to the beach. Whether you're seeking consistent returns or looking to capitalize on the growth of the area, 616 Sunset Ave represents a compelling investment opportunity in a great location.Interested in this Listing?
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Income Details
| Rent Control: | Yes |
| Gross Operating Income: | $ 139,377 |
| Total Annual Expense: | $ 34,407 |
| Net Operating Income: | $ 104,970 |
| Cap Rate: | 6% |
| Gross Rent Multiplier: | 12.18 |
Structure
| Community Features: | Biking |
| Sewer: | Public Sewer |
| Water: | Public |
Land & Parking
| Zoning: | LARD1.5 |
| Land Lease Type: | Fee |
Interior
| AC/Cooling: | None |
| Heating: | None |
| Fireplace Rooms: | None |
| Laundry: | Laundry Area |
Exterior
| Pool: | No |
Detailed Map
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