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22 28th Ave 4 Unit Apartment Building $4,995,000 ($1,248,750/Unit) 5.52% Cap Rate Venice, CA 90291
Investment Highlights
- Current GOI is $359,928 // Large Luxury Units
- Two of the main units can be delivered vacant.
Executive Summary
Perfect Owner/User or Pied-a-Tere! Rare 4 unit Venice compound on a double lot located in the heart of Silicon Beach. Located just steps from the Beach on a Beautiful walk street surrounded by $5 mil + homes in the most sought after "South Venice Beach" area. seconds to top restaurants and trendy Abbott Kinney. Property consists of a 3 bed townhouse on East side of lot with private yard and private garage which has been recently remodeled with Hardwood flrs, new kitchen and new bathrooms. West lot has 3 units comprised of Penthouse with 3 bed 2 ba, open flr plan, rooftop deck and windows surrounding living rm to make this a bright and airy residence w/ Ocean breezes and partial Ocean views from living rm and balcony. Middle unit is a 3 bed 2 bath unit with a balcony off the living rm, Primary w/ beautiful view of the walk st and front yard. Lower unit is a one bed unit with private parking and use of the front lawn area. Total of 8 parking spaces for the property. Owners unit can be delivered vacant. Cap rate of 5.52.
Financial Summary (Actual - 2025) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2025) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $4,995,000 | Apartment Style | Low-Rise |
| Price Per Unit | $1,248,750 | Building Class | B |
| Sale Type | Investment | Lot Size | 0.12 AC |
| Cap Rate | 5.52% | Building Size | 5,398 SF |
| Gross Rent Multiplier | 13.9 | Average Occupancy | 100% |
| No. Units | 4 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1925 |
| Property Subtype | Apartment | Parking Ratio | 2/1,000 SF |
| Zoning | LARD1.5 | ||
| Price | $4,995,000 |
| Price Per Unit | $1,248,750 |
| Sale Type | Investment |
| Cap Rate | 5.52% |
| Gross Rent Multiplier | 13.9 |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 0.12 AC |
| Building Size | 5,398 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built | 1925 |
| Parking Ratio | 2/1,000 SF |
| Zoning | LARD1.5 |
Amenities
Unit Amenities
- Kitchen
Site Amenities
- 24 Hour Access
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 4 | - | - |
Moderately walkable
70/100
Moderately drivable
70/100
Good public transit
60/100
Exceptionally bikeable
90/100
Property Taxes
| Parcel Number | 4226-021-026 | Improvements Assessment | $828,655 |
| Land Assessment | $4,498,429 | Total Assessment | $5,327,084 |
Property Taxes
Parcel Number
4226-021-026
Land Assessment
$4,498,429
Improvements Assessment
$828,655
Total Assessment
$5,327,084
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