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    354 4TH Avenue

    Venice, CA 90291
    • $8,750,000
    • STATUS: Active
    • ON SITE: 260 days
    • ID#: 20550964
    UPDATED: 77 min ago
    $8,750,000
    • 0
      BEDS
    • 0.26
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1964
    County:
    Area:

    School Ratings & Info

    Description

    Located on a larger corner lot walking distance to the beach - one block South of Rose Ave. and two blocks east of Main St. The property features lots of outdoor space with a large community courtyard and has achieved 95%+ rent collections throughout the pandemic. The almost 12,000 sq. ft. two-story building is comprised of (1) three-bedroom and one-bath townhouse, (1) two-bedroom and one-bath townhouse, (2) three-bedroom and two-bath units, (9) two-bedroom and one-bath units and (2) one-bedroom and one-bath units. 7 out of 15 units have been remodeled to include quartz countertops, stainless steel Frigidaire appliances, soft-close custom cabinets, LED lighting package, copper plumbing, and a custom black window package. Additionally, 354 4th Avenue features secured entry and approximately 24 covered parking spaces. Remodeled units are achieving market rents, which present a significant value-add opportunity to investors, as current rents are approximately 47% below market value.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2020-10-29T23:29:22.55. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Keller Williams Realty. Licensed in the State of California, USA.

    www.therealestategirl.com/homes/103182616
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    354 4TH Avenue Venice, CA 90291

    • Price: $8,750,000
    • Status: Active
    • Updated: 77 min ago
    • ID#: 20550964
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.26
    Acres
    1964
    Built
    Neighborhood:
    C11 - Venice
    County:
    Los Angeles
    Area:
    C11 - Venice
    Property Description
    Located on a larger corner lot walking distance to the beach - one block South of Rose Ave. and two blocks east of Main St. The property features lots of outdoor space with a large community courtyard and has achieved 95%+ rent collections throughout the pandemic. The almost 12,000 sq. ft. two-story building is comprised of (1) three-bedroom and one-bath townhouse, (1) two-bedroom and one-bath townhouse, (2) three-bedroom and two-bath units, (9) two-bedroom and one-bath units and (2) one-bedroom and one-bath units. 7 out of 15 units have been remodeled to include quartz countertops, stainless steel Frigidaire appliances, soft-close custom cabinets, LED lighting package, copper plumbing, and a custom black window package. Additionally, 354 4th Avenue features secured entry and approximately 24 covered parking spaces. Remodeled units are achieving market rents, which present a significant value-add opportunity to investors, as current rents are approximately 47% below market value.
    Exterior Features

    Lot Size Source Other Lot Size Units Square Feet Parking Features CoveredTandem Garage Parking YN Yes

    Interior Features

    Appliances DishwasherRefrigerator Appliances YN Yes Heating Central Heating YN Yes

    Property Features

    Additional Parcels YN No Financial Info As Of 2020-09-15 00:00:00 Gross Income 466152.00 Gross Multiplier 18.77 Gross Operating Income 454498.00 Net Operating Income 295150.00 Senior Community YN No Special Listing Conditions Standard Total Expenses 159348.00 Zoning Lar4

    Listing provided courtesy of Kenny Stevens of Compass


    Based on information from California Regional Multiple Listing Service, Inc. as of 2020-10-29T23:29:22.55. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Keller Williams Realty. Licensed in the State of California, USA.

     
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