559 Sunset Ave 14 Unit Apartment Building $5,200,000 ($371,429/Unit) 5.22% Cap Rate Venice, CA 90291

559 Sunset Ave is a 14-unit multifamily investment opportunity located in Venice, CA, one of Los Angeles’ most desirable coastal rental markets. Built in 1964, the property totals approximately 10,651 square feet on an 11,278 square foot RD1.5-zoned lot and benefits from a desirable unit mix consisting primarily of two-bedroom units. Five units will be delivered vacant at close, allowing a new owner to immediately execute a renovation and lease-up strategy without waiting for tenant turnover. Current rents average approximately $2,489 per month, while market rents are projected at roughly $3,857 per month, providing a clear pathway to increased cash flow through strategic upgrades and repositioning. In addition, the property includes three ADUs currently in plan check, offering a streamlined path to increasing density from 14 to 17 units and unlocking additional long-term income potential.
Key Property Details
Location: 559 Sunset Ave, Venice, CA 90291
Lot Size: 11,278 SF
Building Size: 10,651 SF
Units: 14 Existing Units + 3 ADUs (RTI)
Year Built: 1964
Zoning: RD1.5-1
Rent Control: Yes (LARSO)
Parking: 17 Spaces
Unit Mix
(2) One-Bedroom / One-Bathroom
(11) Two-Bedroom / One-Bathroom
(3) ADUs (RTI)
(2) 500 SF Units
(1) 500 SF Two-Bedroom Unit
Investment Highlights
Immediate Upside from Five Vacant Units
Significant Rent Growth Potential
Strong Stabilized Returns
ADU Expansion Opportunity
Desirable Venice Coastal Location
Parking Advantage in a Coastal Market
Neighborhood and Accessibility
Located in Venice, one of Los Angeles’ most vibrant and desirable coastal neighborhoods, 559 Sunset Ave offers tenants walkable access to the area’s premier lifestyle amenities including Abbot Kinney Boulevard, Rose Avenue, and Venice Beach. The property benefits from proximity to major Silicon Beach employment hubs such as Google, Snap, and numerous technology and creative companies, supporting strong tenant demand and premium rental pricing. Residents also enjoy convenient access to Lincoln Blvd, Venice Blvd, and the I-10 Freeway, providing connectivity to Santa Monica, Culver City, and the broader Westside employment corridor.
For more information and to schedule a viewing, please contact:Taylor Avakian Founder, The Group CRE First Vice President, Lyon Stahl