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Value Add Venice West LA 5-Unit Apartment 2403 Louella Ave 5 Unit Apartment Building $2,695,000 ($539,000/Unit) 3.32% Cap Rate Venice, CA 90291
INVESTMENT HIGHLIGHTS
- Venice West LA 5-Unit Apartment Complex along Venice Blvd with Added Value from Vacant Unit, Below Market Rents, and Leasing Garage
- Ideal Location in the Heart of Silicon Beach’s “Tech Hub”
- 7 Miles from LAX
- All Units have been Renovated
- Less than a Mile Away from the Famous Venice Beach & Boardwalk and Close Proximity to other famous Surrounding Amenities including Abbot Kinney Blvd
- Down the Street from CA 10 and 405 Fwy
EXECUTIVE SUMMARY
2403 Louella Ave is a prime West LA location located in the Venice Blvd Corridor.
The property is a 5-unit (four 1+1 and one 2+2), all recently renovated, apartment that is a value-add play through leasing out the vacant unit (Unit 1 - 1+1), below market rents, and leasing garage spaces.
Ideal location in the heart of Silicon Beach's "Tech Hub" with Close Proximity to Major Tech Employers such as Snap Inc., Google, System1, Headspace, and many more. Less than a Mile Away from the Famous Venice Beach & Boardwalk and in Close Proximity to other well-known Surrounding Amenities and Locations, including Muscle Beach, Venice Skatepark, Venice Canals Historic District, Abbot Kinney Boulevard, and Santa Monica Pier.
CAP RATE is based on Proforma by leasing out vacant unit (Unit 1 - 1+1) at market rent and leasing garage spaces.
The property is a 5-unit (four 1+1 and one 2+2), all recently renovated, apartment that is a value-add play through leasing out the vacant unit (Unit 1 - 1+1), below market rents, and leasing garage spaces.
Ideal location in the heart of Silicon Beach's "Tech Hub" with Close Proximity to Major Tech Employers such as Snap Inc., Google, System1, Headspace, and many more. Less than a Mile Away from the Famous Venice Beach & Boardwalk and in Close Proximity to other well-known Surrounding Amenities and Locations, including Muscle Beach, Venice Skatepark, Venice Canals Historic District, Abbot Kinney Boulevard, and Santa Monica Pier.
CAP RATE is based on Proforma by leasing out vacant unit (Unit 1 - 1+1) at market rent and leasing garage spaces.
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
PROPERTY FACTS
| Price | $2,695,000 | Apartment Style | Low-Rise |
| Price Per Unit | $539,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.13 AC |
| Cap Rate | 3.32% | Building Size | 2,947 SF |
| No. Units | 5 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1950 |
| Property Subtype | Apartment | Parking Ratio | 1.36/1,000 SF |
| Zoning | LAR4 - Multifamily | ||
| Price | $2,695,000 |
| Price Per Unit | $539,000 |
| Sale Type | Investment |
| Cap Rate | 3.32% |
| No. Units | 5 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.13 AC |
| Building Size | 2,947 SF |
| No. Stories | 2 |
| Year Built | 1950 |
| Parking Ratio | 1.36/1,000 SF |
| Zoning | LAR4 - Multifamily |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 4 | $8,780 | - |
| 2+1 | 1 | $3,420 | - |
1 1
Walk Score®
Very Walkable (84)
Bike Score®
Very Bikeable (85)
PROPERTY TAXES
| Parcel Number | 4236-006-006 | Total Assessment | $1,706,992 (2025) |
| Land Assessment | $1,539,216 (2025) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $167,776 (2025) | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
4236-006-006
Land Assessment
$1,539,216 (2025)
Improvements Assessment
$167,776 (2025)
Total Assessment
$1,706,992 (2025)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2024
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Value Add Venice West LA 5-Unit Apartment | 2403 Louella Ave
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