1034 Pleasantview Ave - Multi-Family FOR SALE


Venice, CA 90291
$1,900,000 USD
310-780-1899
1034 Pleasantview Ave, Venice, CA for Sale
$1,900,000 USD
Multi-Family - FOR SALE
1/9
null | 4.76% Cap Rate

1034 Pleasantview Ave
Venice, CA 90291


HIGHLIGHTS

  • Long Term Ownership, Family Owned & Operated for the Last 31 Years
  • 1987 Constructed Asset - Not Subject to City of Los Angeles Rent Control, Only Subject to AB 1482 Statewide Rent Control
  • With a Walk Score of 93 ‘Walker's Paradise’ – Daily Errands do not Require a Car | Easy Access to Venice & Santa Monica
  • 66 Percent Remaining Rental Upside Through Interior Renovates
  • *All Units are Eligible for Rent Increases in September 2026, Owner has not Issued 2026 Rent Increases. 8.7% (5%+CPI) 2026 Rent Increases are Applied
  • Recent Capital Improvements, Ownership Recently Installed Hardie Board Siding to the Exterior, Dual Pane Windows, and a New Roof in 2022

OVERVIEW

Situated in the heart of Venice, 1034 Pleasantview Ave presents the opportunity to acquire a well-maintained three-unit multifamily property in one of Los Angeles' most desirable coastal neighborhoods. Built in 1987, the property consists of three spacious 3-bedroom, 2-bathroom units totaling 3,720 square feet on a 4,634 square foot lot. The property's larger floor plans and newer construction provide a highly desirable housing option in a market where demand for quality rental housing remains strong. Offered at a 4.76% Current CAP Rate and 14.59 Current GRM, the property presents investors with the opportunity to acquire a well-located 1980s-constructed asset that is not subject to Los Angeles City Rent Control (only AB 1482 Statewide Rent Control). The property offers strong long-term income growth potential, achieving a projected 8.22% Pro Forma CAP Rate and 9.60 Pro Forma GRM. Recent capital improvements further enhance the property's appeal, including Hardie Board exterior siding, dual-pane windows, and a new roof installed in 2022. Additional amenities include in-unit laundry in all three units and gated carport parking with six total parking spaces. Built in 1987, the property offers a newer construction profile than much of the surrounding multifamily inventory, contributing to its long-term appeal and operational efficiency. Conveniently located just moments from Abbot Kinney Boulevard, Rose Avenue, Venice Beach, and major Westside employment centers, this offering presents an attractive opportunity to acquire a well-positioned multifamily investment in one of Southern California's most sought-after rental markets.

FOR SALE DETAILS

PRICE

$1,900,000 USD

PRICE/SF

$511 USD /SF

# OF UNITS

3

PRICE/UNIT

$633,333

CAP RATE

4.76%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1987

PARKING SPACES

-

LAND DETAILS

LAND ACRES

-

LAND SF

-

ZONING

-

APN/PARCEL ID

4239-016-004

ASK ABOUT THIS PROPERTY

Brett LyonLyon Stahl Investment Real Estate, Inc.More Info
310-780-1899

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Brett LyonLyon Stahl Investment Real Estate, Inc.More Info
310-780-1899

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.