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Venice Triplex for 1031 or Owner-User 40 18th Ave 3 Unit Apartment Building $3,395,000 ($1,131,667/Unit) 5.35% Cap Rate Venice, CA 90291
Executive Summary
OPEN HOUSE 8/25 11-2PM. 6.47% Cap self managed or 5.3% Cap with 5% mgmt fee. Designer Triplex where the city meets the sand in Venice Beach. This restored, 3-unit property offers strong income with a proven track record in 30 day rentals and long term rentals. There are multiple cash flow options to choose from: continue the lucrative Airbnb rental business plan, move into the gorgeous front townhome and lease the rest to mitigate your mortgage, or rent the entire property with standard long term leases and less turnover. No matter what path you choose, you will be riding the large Windward Circle wave of upside as the area continues to surprise and delight with new restaurants and activities. Fun facts- The large townhome is booked for 6 months at $10k per month starting December. Soho House is opening up a location two blocks away. EASY TO SHOW.
Financial Summary (Actual - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$249,000
|
$96.10
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$249,000
|
$96.10
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$60,158
|
$23.22
|
| Net Operating Income |
$188,842
|
$72.88
|
Financial Summary (Actual - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $249,000 |
| Annual Per SF | $96.10 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $249,000 |
| Annual Per SF | $96.10 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $60,158 |
| Annual Per SF | $23.22 |
| Net Operating Income | |
|---|---|
| Annual | $188,842 |
| Annual Per SF | $72.88 |
Property Facts
| Price | $3,395,000 | Apartment Style | Low-Rise |
| Price Per Unit | $1,131,667 | Building Class | B |
| Sale Type | Investment | Lot Size | 0.07 AC |
| Cap Rate | 5.35% | Building Size | 2,591 SF |
| Gross Rent Multiplier | 14 | Average Occupancy | 0% |
| No. Units | 3 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1970/2026 |
| Property Subtype | Apartment |
| Price | $3,395,000 |
| Price Per Unit | $1,131,667 |
| Sale Type | Investment |
| Cap Rate | 5.35% |
| Gross Rent Multiplier | 14 |
| No. Units | 3 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 0.07 AC |
| Building Size | 2,591 SF |
| Average Occupancy | 0% |
| No. Stories | 2 |
| Year Built/Renovated | 1970/2026 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+2 | 1 | - | - |
| 2+1 | 1 | - | - |
| 1+1 | 1 | - | - |
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Very walkable
80/100
Moderately drivable
60/100
Good public transit
70/100
Exceptionally bikeable
90/100
Property Taxes
| Parcel Number | 4226-011-020 | Improvements Assessment | $22,754 |
| Land Assessment | $1,991,200 | Total Assessment | $2,013,954 |
Property Taxes
Parcel Number
4226-011-020
Land Assessment
$1,991,200
Improvements Assessment
$22,754
Total Assessment
$2,013,954
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Venice Triplex for 1031 or Owner-User | 40 18th Ave