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1300 Riviera Ave 5 Unit Apartment Building $2,295,000 ($459,000/Unit) 4.17% Cap Rate Venice, CA 90291
Investment Highlights
- Less than .25 Miles from Abbot Kinney
- Mix: (3) 1 bed/1 bath, (1) studio, (1) 1 bed + office
- 5 units | 2,856 SF building on 4,929 SF corner lot
Executive Summary
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.
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.
Property Facts
| Price | $2,295,000 | Property Subtype | Apartment |
| Price Per Unit | $459,000 | Apartment Style | Low-Rise |
| Sale Type | Investment | Building Class | C |
| Cap Rate | 4.17% | Lot Size | 0.11 AC |
| Gross Rent Multiplier | 15.17 | Building Size | 2,856 SF |
| No. Units | 5 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 1914 |
| Zoning | LARD1.5 - restricted Density Multiple Dwelling | ||
| Price | $2,295,000 |
| Price Per Unit | $459,000 |
| Sale Type | Investment |
| Cap Rate | 4.17% |
| Gross Rent Multiplier | 15.17 |
| No. Units | 5 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.11 AC |
| Building Size | 2,856 SF |
| No. Stories | 1 |
| Year Built | 1914 |
| Zoning | LARD1.5 - restricted Density Multiple Dwelling |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 4 | - | - |
| Studios | 1 | - | - |
Walk Score®
Walker's Paradise (97)
Bike Score®
Biker's Paradise (99)
Property Taxes
| Parcel Number | 4238-009-001 | Improvements Assessment | $546,820 |
| Land Assessment | $1,640,468 | Total Assessment | $2,187,288 |
Property Taxes
Parcel Number
4238-009-001
Land Assessment
$1,640,468
Improvements Assessment
$546,820
Total Assessment
$2,187,288
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