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19 Wavecrest Ave 10 Unit Apartment Building $4,599,999 ($460,000/Unit) 6.40% Cap Rate Venice, CA 90291
INVESTMENT HIGHLIGHTS
- Amazing Venice Location-Steps to the Boardwalk
- Vacancy-Potential to Deliver as Many as 8 Vacancies at the Close
- Impressive Unit Mix-7 One Bedrooms and 3 Two's
- Impressive Upgrades-Several Units with Impressive Renovations
EXECUTIVE SUMMARY
SELLER FINANCING AVAILABLE!
19 Wavecrest Ave Apartments is a 10-unit apartment community constructed in 1912.
19 Wavecrest Ave Apartments is a 10-unit apartment community located 130+ feet from the Venice Boardwalk and beach. Residents enjoy the benefits of living in the heart of venice as he property is in close proximity to Abbot Kinney, Santa Monica Pier, and much more.
19 Wavecrest Ave offers (7) one-bedroom apartments each measuring approximately 650 square feet, (2) two bedroom/one bath apartments each measuring approximately 815 square feet, and (1) two bedroom-two bath Penthouse unit measuring approximately 1,100 square feet. The penthouse unit features a jacuzzi, rooftop deck, and has views of the Pacific Ocean and entire city of Los Angeles.
Plumbing and electrical have been updated. Potential to have (8) units delivered vacant at the close of escrow. Units feature ocean views, Spanish tiling, and private patios. There is laundry on site.
19 Wavecrest Ave Apartments is a 10-unit apartment community constructed in 1912.
19 Wavecrest Ave Apartments is a 10-unit apartment community located 130+ feet from the Venice Boardwalk and beach. Residents enjoy the benefits of living in the heart of venice as he property is in close proximity to Abbot Kinney, Santa Monica Pier, and much more.
19 Wavecrest Ave offers (7) one-bedroom apartments each measuring approximately 650 square feet, (2) two bedroom/one bath apartments each measuring approximately 815 square feet, and (1) two bedroom-two bath Penthouse unit measuring approximately 1,100 square feet. The penthouse unit features a jacuzzi, rooftop deck, and has views of the Pacific Ocean and entire city of Los Angeles.
Plumbing and electrical have been updated. Potential to have (8) units delivered vacant at the close of escrow. Units feature ocean views, Spanish tiling, and private patios. There is laundry on site.
PROPERTY FACTS
| Price | $4,599,999 | Apartment Style | Mid-Rise |
| Price Per Unit | $460,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.06 AC |
| Cap Rate | 6.40% | Building Size | 7,281 SF |
| Gross Rent Multiplier | 10.53 | Average Occupancy | 30% |
| No. Units | 10 | No. Stories | 4 |
| Property Type | Multifamily | Year Built | 1912 |
| Property Subtype | Apartment | ||
| Zoning | RD1.5-1, Venice - restricted Density Multiple Dwelling | ||
| Price | $4,599,999 |
| Price Per Unit | $460,000 |
| Sale Type | Investment |
| Cap Rate | 6.40% |
| Gross Rent Multiplier | 10.53 |
| No. Units | 10 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.06 AC |
| Building Size | 7,281 SF |
| Average Occupancy | 30% |
| No. Stories | 4 |
| Year Built | 1912 |
| Zoning | RD1.5-1, Venice - restricted Density Multiple Dwelling |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 8 | $3,096 | - |
| 2+1 | 1 | $4,500 | - |
| 2+1 | 1 | $6,995 | - |
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Walk Score®
Walker's Paradise (95)
Bike Score®
Biker's Paradise (100)
PROPERTY TAXES
| Parcel Number | 4226-003-010 | Improvements Assessment | $2,040,000 |
| Land Assessment | $2,856,000 | Total Assessment | $4,896,000 |
PROPERTY TAXES
Parcel Number
4226-003-010
Land Assessment
$2,856,000
Improvements Assessment
$2,040,000
Total Assessment
$4,896,000
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19 Wavecrest Ave
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