615 Sunset Ave - Apartments FOR SALE


Venice, CA 90291
$2,450,000 USD
310-202-9166
615 Sunset Ave, Venice, CA for Sale
$2,450,000 USD
Apartments - FOR SALE
1/14
null | 5.26% Cap Rate

615 Sunset Ave
Venice, CA 90291


HIGHLIGHTS

  • Prime Venice Beach location - West of Lincoln Blvd. and just south of Rose Ave
  • Spacious 3 BR + Den + 2.5 Bath front house & three (3) large 1 BR + 1.5 Bath units
  • Perfect for an owner-occupier
  • Property received extensive renovations in the early 1990
  • On site garages
  • A few blocks from all the shops and restaurants on Abbott Kinney Blvd

OVERVIEW

615 Sunset Ave offers a rare dual-appeal opportunity in Venice: a 3-bedroom + den, 3-bath owner-user residence paired with three income-producing loft-style rental units on a single parcel. This four unit property is located in a prime Venice location west of Lincoln Blvd. and just south of Rose Ave. The building is a few blocks from all of the shops and restaurants on the world famous Abbott Kinney Blvd. All of the units are currently occupied including the front house and are generating a strong rental income of approximately $186,036 a year . The total SF of the building is approximately 3,749 SF and it sits on a single parcel lot that is approximately 5,801 SF. The property received significant renovations back in 1992. There are garages at the read of the property providing at least 3 parking spaces. The property delivers the coastal lifestyle sought by owner-occupants while providing institutional-quality cash flow and long-term appreciation for multifamily investors in one of Los Angeles’ most highly desired markets.

FOR SALE DETAILS

PRICE

$2,450,000 USD

PRICE/SF

$266 USD /SF

# OF UNITS

4

PRICE/UNIT

$612,500

CAP RATE

5.26%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1992

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.13 AC

LAND SF

5,663 SF

ZONING

LARD1.5

APN/PARCEL ID

4240-012-025

ASK ABOUT THIS PROPERTY

Errol SpiroMiller & Desatnik Realty Corp.More Info
310-202-9166

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Errol SpiroMiller & Desatnik Realty Corp.More Info
310-202-9166

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