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534 Broadway St 4 Unit Apartment Building $3,990,000 ($997,500/Unit) 3.76% Cap Rate Venice, CA 90291
Investment Highlights
- 4-unit — rare owner-user or repositioning opportunity
- Proforma upside to 4.28% cap ($240K/yr gross)
- Westminster Elementary · transit off Lincoln Blvd
- Prime Venice: 4 blocks to beach, 1 block to Abbot Kinney
- Freshly painted in/out · elastomeric-coated roof
- Walk to Ralphs, Erewhon & Whole Foods
Executive Summary
Prime beachside 4-unit multifamily just 4 blocks from Venice Beach and 1 block from Abbott Kinney Blvd. Built 1964, 4,428 SF across four vacant, move-in-ready units in one of LA's most sought-after coastal neighborhoods. Freshly painted interior and exterior with an elastomeric-coated roof. Steps from Ralphs, Erewhon, and Whole Foods, near Westminster Elementary, walkable to shops, cafés, and the boardwalk. 2025 actual gross income $219,000/yr (3.76% cap) with proforma upside to $240,000/yr (4.28% cap). Public records show 12 bedrooms; currently configured as 10. Ideal for owner-occupants or investors seeking a rare vacant coastal asset.
Financial Summary (Actual - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$219,000
|
$49.46
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$219,000
|
$49.46
|
| Taxes |
$48,000
|
$10.84
|
| Operating Expenses |
$21,108
|
$4.77
|
| Total Expenses |
$69,108
|
$15.61
|
| Net Operating Income |
$149,892
|
$33.85
|
Financial Summary (Actual - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $219,000 |
| Annual Per SF | $49.46 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $219,000 |
| Annual Per SF | $49.46 |
| Taxes | |
|---|---|
| Annual | $48,000 |
| Annual Per SF | $10.84 |
| Operating Expenses | |
|---|---|
| Annual | $21,108 |
| Annual Per SF | $4.77 |
| Total Expenses | |
|---|---|
| Annual | $69,108 |
| Annual Per SF | $15.61 |
| Net Operating Income | |
|---|---|
| Annual | $149,892 |
| Annual Per SF | $33.85 |
Property Facts
| Price | $3,990,000 | Apartment Style | Low-Rise |
| Price Per Unit | $997,500 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.12 AC |
| Cap Rate | 3.76% | Building Size | 4,428 SF |
| Sale Condition | 1031 Exchange | Average Occupancy | 100% |
| Gross Rent Multiplier | 18.22 | No. Stories | 2 |
| No. Units | 4 | Year Built/Renovated | 1964/2020 |
| Property Type | Multifamily | Parking Ratio | 0.9/1,000 SF |
| Property Subtype | Apartment | ||
| Zoning | LARD1.5 | ||
| Price | $3,990,000 |
| Price Per Unit | $997,500 |
| Sale Type | Investment |
| Cap Rate | 3.76% |
| Sale Condition | 1031 Exchange |
| Gross Rent Multiplier | 18.22 |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.12 AC |
| Building Size | 4,428 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1964/2020 |
| Parking Ratio | 0.9/1,000 SF |
| Zoning | LARD1.5 |
Amenities
Unit Amenities
- Dishwasher
- Tile Floors
- Refrigerator
- Oven
- Range
Site Amenities
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 3+2 | 2 | $5,000 | - |
| 2+2 | 2 | $4,500 | - |
1 1
Moderately walkable
70/100
Moderately drivable
60/100
Some public transit
50/100
Very bikeable
80/100
Property Taxes
| Parcel Number | 4239-020-009 | Total Assessment | $3,586,882 |
| Land Assessment | $2,971,382 | Annual Taxes | $48,000 ($10.84/SF) |
| Improvements Assessment | $615,500 | Tax Year | 2025 |
Property Taxes
Parcel Number
4239-020-009
Land Assessment
$2,971,382
Improvements Assessment
$615,500
Total Assessment
$3,586,882
Annual Taxes
$48,000 ($10.84/SF)
Tax Year
2025
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534 Broadway St