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Diego Magdaleno

diego@1visionproperties.com +1(714) 376-8652

$2,200,000

Est. payment - /mo

6 Beds

8 Baths

3,964 SqFt

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Key Details

Property Type Single Family Home

Listing Status Active

Purchase Type For Sale

Square Footage 3,964 sqft

Price per Sqft $554

MLS Listing ID 26811603

Bedrooms 6

HOA Y/N No

Year Built 1907

Lot Size 3,184 Sqft

Property Description

Located just one block from the sand at Venice Beach, this rare two parcel offering combines seven highly desirable units in one of Los Angeles' most iconic coastal neighborhoods. The unit mix includes one 1BR/1.5BA, four 1BR/1BA units, one studio, and a standalone 1BR/1BA cottage situated on the adjacent parcel at 1007 Pacific .In addition to its premier location, the property provides exceptional privacy and security with fenced and gated entry. A private, fenced courtyard at the front of the property serves as a shared outdoor space, while the rear area offers ample room for tenants to park and secure bicycles, the preferred mode of transportation at the beach. At the list price, the asset delivers a 4.34% cap rate with a pro forma cap rate of 5.43%, supported by competitive pricing metrics of $314,000 per door and $555 per square foot, strong for a beach adjacent property . There may also be potential to subdivide the parcels for resale or owner/user occupancy, subject to verification with the City of Venice.

Location

State CA

County Los Angeles

Area C11 - Venice

Zoning LARD1.5

Interior

Heating Natural Gas

Cooling None

Fireplace No

Appliance Disposal

Exterior

Parking Features None

Building

Story 2

Entry Level Multi/Split

Architectural Style Craftsman

Level or Stories Multi/Split

New Construction No

Others

Senior Community No

Tax ID 4226003029

Special Listing Condition Standard

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Listed by Keith Moret Lyon Stahl Investment Real Estate, Inc. #01802527

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49 Wavecrest AVE Venice, CA 90291