31-unit apartment building located directly on the World-Renowned Venice Beach Boardwalk. This is a rare unique opportunity to purchase a great asset that has been in the same family for decades. The property is very clean and well maintained. The building is fully sprinklered and is master metered. Roof, deck and balconies are approximately 3 years old, water heater is approximately 5 years old.
The property consists of 31 single apartment units and one leasing office fronting the famous Venice Beach Boardwalk. Situated in a very high demand area with a
strong rental market. Spectacular large roof top deck with beautiful Ocean, Boardwalk and City Views. Many units have Ocean Views and 7 units have classic claw
foot bathtubs. The building is approximately 11,600 square feet sitting on a 4,215 square foot lot and was built in 1912.
Currently the building is mostly vacant and must be rented for a minimum of 30 days or more either furnished or unfurnished. This property has been operating as a hotel
for over a decade. It is subject to Los Angeles Rent Control and the Rent Stabilization Ordinance (RSO.) The rent roll will be revised according to any tenant turnover.
See attached OM for more details.
