14 Ozone Ave - Apartments FOR SALE


Venice, CA 90291
$4,250,000 USD
310-621-8221
14 Ozone Ave, Venice, CA for Sale
$4,250,000 USD
Apartments - FOR SALE
1/57
null | 5.02% Cap Rate

14 Ozone Ave
Venice, CA 90291


HIGHLIGHTS

  • Amazing Unit Mix & Parking (Garages)
  • 130 Feet from Venice Boardwalk
  • Great Upside & City Approved ADU
  • Ocean Views from Most Units
  • Short Term & Owner/User Possibilities

OVERVIEW

14 Ozone Avenue is a 6-unit apartment community located 130+ feet from the Venice Boardwalk and beach. Residents enjoy the benefits of living in the heart of Venice as the property is in close proximity to Venice Boardwalk and Beach, Abbott Kinney, Santa Monica Pier and much more. 14 Ozone Avenue offers (1) Studio/One-Bathroom apartment, (1) One-Bedroom/One-Bathroom apartment, and (4) Two-Bedroom/Two-Bathroom apartments, totaling an average of 779 square feet. The property has 11 parking spaces consisting of 4 double garages for 8 spaces plus 3 open spaces. Five units have undergone recent plumbing and electrical upgrades and have been renovated with modern features such as stainless-steel appliances, quartz countertops, hardwood floors, and white-tile backsplashes in both the kitchens and bathrooms. Five of the units also feature Juliet Balconies, and one of the top-floor units boasts its own private patio/deck, with four units offering picturesque ocean views. There is an opportunity for the buyer to increase rental income by strategically renovating the units and adding an ADU. The seller has received approval from the City of Los Angeles to convert one of the garages into a Studio ADU, pending approval from the Coastal Commission. The property also features a rare amenity for the area - a total of 11 on-site parking spots, which will be reduced to 9 after the ADU conversion.

FOR SALE DETAILS

PRICE

$4,250,000 USD

PRICE/SF

$906 USD /SF

# OF UNITS

6

PRICE/UNIT

$708,333

CAP RATE

5.02%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

14 Ozone-130 Feet to the Venice Boardwalk

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1973

PARKING SPACES

11

LAND DETAILS

LAND ACRES

0.07 AC

LAND SF

3,049 SF

ZONING

RD1.5-1

APN/PARCEL ID

4286-019-001

ASK ABOUT THIS PROPERTY

Brent SprenkleNorthmarqMore Info
310-621-8221

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Brent SprenkleNorthmarqMore Info
310-621-8221

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