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1167 Nelrose Ave 3 Unit Apartment Building $1,425,000 ($475,000/Unit) 4.59% Cap Rate Venice, CA 90291
EXECUTIVE SUMMARY
Lee & Associates is pleased to present the opportunity to purchase this multi-family triplex at 1167 Nelrose Avenue, consisting of ± 1,888 square feet of building on ± 4,401 square feet of land. The property is situated in the heart of Venice, walking distance to iconic Abbot Kinney Boulevard. Originally built in 1952, the property is rich with history. Mature landscaping and an expansive shared patio create an inviting outdoor oasis. Currently built out as a triplex, with two units consisting of one-bedroom and one-bathroom, and one unit consisting of two bedrooms and one-bathroom. The property offers tremendous upside potential to owner occupants, investors and developers alike. Two bedroom, one bathroom unit is available for owner/user. Do NOT disturb tenants. Call agent for showing details.
FINANCIAL SUMMARY (ACTUAL - 2025) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$83,964
|
$44.47
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$83,964
|
$44.47
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$18,561
|
$9.83
|
| Net Operating Income |
$65,403
|
$34.64
|
FINANCIAL SUMMARY (ACTUAL - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $83,964 |
| Annual Per SF | $44.47 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $83,964 |
| Annual Per SF | $44.47 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $18,561 |
| Annual Per SF | $9.83 |
| Net Operating Income | |
|---|---|
| Annual | $65,403 |
| Annual Per SF | $34.64 |
PROPERTY FACTS
| Price | $1,425,000 | Building Class | C |
| Price Per Unit | $475,000 | Lot Size | 0.10 AC |
| Sale Type | Investment | Building Size | 1,888 SF |
| Cap Rate | 4.59% | Average Occupancy | 66% |
| No. Units | 3 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 1952 |
| Property Subtype | Apartment | ||
| Zoning | RD 1.5-1 | ||
| Price | $1,425,000 |
| Price Per Unit | $475,000 |
| Sale Type | Investment |
| Cap Rate | 4.59% |
| No. Units | 3 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | C |
| Lot Size | 0.10 AC |
| Building Size | 1,888 SF |
| Average Occupancy | 66% |
| No. Stories | 1 |
| Year Built | 1952 |
| Zoning | RD 1.5-1 |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 2 | - | - |
| 2+1 | 1 | - | - |
1 1
Walk Score®
Walker's Paradise (91)
Bike Score®
Very Bikeable (87)
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1167 Nelrose Ave
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