Irreplaceable Venice address. Walk to Abbot Kinney, the Boardwalk, and Silicon Beach employers—locations tenants chase and lenders love. Turn-key bones + clear upside. Renovated within the last five years, so big-ticket CapEx is done. Yet in-place rents still sit ~20 percent below market, giving new ownership baked-in growth. Sub-$5 M price avoids L.A.’s ULA transfer tax. More net dollars to the buyer on both purchase and exit. Current NOI ± $97K with a pro-forma NOI ± $122K—pencils to ± 4.4 % cap now and ± 5.5 %+ once rents roll. Mills Act candidate. Historic status can slash property taxes 50-75 percent and juice cash flow. Quick Facts 5 units | 2,856 SF building on 4,929 SF corner lot Mix: (3) 1 bed/1 bath, (1) studio, (1) 1 bed + office 1914 construction | LARD1.5 zoning | Street parking Scheduled Gross Rent: $151,271 current / $178,800 pro-forma Expenses run ±33 % of EGI today, drop to ±28 % on pro-forma Value-Add Plays Roll leases to market (+3-5 % per turn). Add RUBS or premium Wi-Fi for ancillary income. Explore valet partnership or off-site parking to widen tenant pool.