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604 Venezia Ave 3 Unit Apartment Building $2,299,000 ($766,333/Unit) 6.85% Cap Rate Venice, CA 90291
INVESTMENT HIGHLIGHTS
- Quiet Neighborhood, Units have Lots of Natural Light
EXECUTIVE SUMMARY
3 beautifully furnished, turnkey move-in ready garden apartments, with Parking, just steps from the vibrant Abbot Kinney Blvd. Coastal Charm Meets Modern Comfort = Venice Beach Living! Nestled on a quiet, tree-lined street near Erewhon, these Remodeled stylish beachy retreats offer the perfect blend of tranquility and urban energy. Key Features: Fully furnished ground-floor units, newly designed with recessed lighting, hardwood floors & retro wood ceiling fans Private yard, your own serene escape by the beach 4 parking spaces, including 3 garage spots, plus carport and Yard area. May have potential to build a two-story ADU for additional income or guest space Short, mid, or long-term rental flexibility. May have potential for STR Airbnb rentals. A great investment opportunity! In-unit washer(s)/dryer(s) & **fully stocked kitchens. PLEASE DO NOT DISTURB TENANTS - DO NOT WALK ON PROPERTY - May be Delivered vacant at COE.
FINANCIAL SUMMARY (PRO FORMA - 2025) Click Here to Access |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
-
|
-
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
-
|
-
|
| Net Operating Income |
$99,999
|
$9.99
|
FINANCIAL SUMMARY (PRO FORMA - 2025) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
PROPERTY FACTS
| Price | $2,299,000 | Apartment Style | Garden |
| Price Per Unit | $766,333 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.12 AC |
| Cap Rate | 6.85% | Building Size | 2,025 SF |
| Gross Rent Multiplier | 12.57 | Average Occupancy | 0% |
| No. Units | 3 | No. Stories | 1 |
| Property Type | Multifamily | Year Built/Renovated | 1951/2024 |
| Property Subtype | Apartment | Parking Ratio | 1.48/1,000 SF |
| Zoning | R3 - May have Potential to Build ADU above Detached 3 Car Garage, plus carport. | ||
| Price | $2,299,000 |
| Price Per Unit | $766,333 |
| Sale Type | Investment |
| Cap Rate | 6.85% |
| Gross Rent Multiplier | 12.57 |
| No. Units | 3 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 0.12 AC |
| Building Size | 2,025 SF |
| Average Occupancy | 0% |
| No. Stories | 1 |
| Year Built/Renovated | 1951/2024 |
| Parking Ratio | 1.48/1,000 SF |
| Zoning | R3 - May have Potential to Build ADU above Detached 3 Car Garage, plus carport. |
AMENITIES
SITE AMENITIES
- Fenced Lot
- Gated
- Furnished Units Available
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 2 | $3,995 | - |
| 2+1 | 1 | $5,250 | - |
1 1
Walk Score®
Walker's Paradise (92)
Bike Score®
Biker's Paradise (96)
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604 Venezia Ave
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