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615 Sunset Ave 4 Unit Apartment Building $2,450,000 ($612,500/Unit) 5.26% Cap Rate Venice, CA 90291
INVESTMENT HIGHLIGHTS
- Prime Venice Beach location - West of Lincoln Blvd. and just south of Rose Ave
- Perfect for an owner-occupier
- On site garages
- Spacious 3 BR + Den + 2.5 Bath front house & three (3) large 1 BR + 1.5 Bath units
- Property received extensive renovations in the early 1990
- A few blocks from all the shops and restaurants on Abbott Kinney Blvd
EXECUTIVE SUMMARY
615 Sunset Ave offers a rare dual-appeal opportunity in Venice: a 3-bedroom + den, 3-bath owner-user residence paired with three income-producing loft-style rental units on a single parcel. This four unit property is located in a prime Venice location west of Lincoln Blvd. and just south of Rose Ave. The building is a few blocks from all of the shops and restaurants on the world famous Abbott Kinney Blvd.
All of the units are currently occupied including the front house and are generating a strong rental income of approximately $186,036 a year . The total SF of the building is approximately 3,749 SF and it sits on a single parcel lot that is approximately 5,801 SF. The property received significant renovations back in 1992. There are garages at the read of the property providing at least 3 parking spaces.
The property delivers the coastal lifestyle sought by owner-occupants while providing institutional-quality cash flow and long-term appreciation for multifamily investors in one of Los Angeles’ most highly desired markets.
All of the units are currently occupied including the front house and are generating a strong rental income of approximately $186,036 a year . The total SF of the building is approximately 3,749 SF and it sits on a single parcel lot that is approximately 5,801 SF. The property received significant renovations back in 1992. There are garages at the read of the property providing at least 3 parking spaces.
The property delivers the coastal lifestyle sought by owner-occupants while providing institutional-quality cash flow and long-term appreciation for multifamily investors in one of Los Angeles’ most highly desired markets.
FINANCIAL SUMMARY (ACTUAL - 2025) Click Here to Access |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
FINANCIAL SUMMARY (ACTUAL - 2025) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
PROPERTY FACTS
| Price | $2,450,000 | Property Subtype | Apartment |
| Price Per Unit | $612,500 | Apartment Style | Low-Rise |
| Sale Type | Investment | Building Class | C |
| Cap Rate | 5.26% | Lot Size | 0.13 AC |
| Gross Rent Multiplier | 13.17 | Building Size | 3,749 SF |
| No. Units | 4 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1992 |
| Zoning | LARD1.5 - Restricted Density Multiple | ||
| Price | $2,450,000 |
| Price Per Unit | $612,500 |
| Sale Type | Investment |
| Cap Rate | 5.26% |
| Gross Rent Multiplier | 13.17 |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.13 AC |
| Building Size | 3,749 SF |
| No. Stories | 2 |
| Year Built | 1992 |
| Zoning | LARD1.5 - Restricted Density Multiple |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Heating
- Kitchen
- Hardwood Floors
- Refrigerator
- Oven
- Range
SITE AMENITIES
- 24 Hour Access
- Laundry Facilities
- Security System
- Package Service
- Maintenance on site
- Public Transportation
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1.5 | 3 | $5,408 | 600 |
| 3+2.5 | 1 | $3,365 | 1,200 |
Walk Score®
Walker's Paradise (93)
Bike Score®
Biker's Paradise (95)
PROPERTY TAXES
| Parcel Number | 4240-012-025 | Improvements Assessment | $375,584 |
| Land Assessment | $1,753,074 | Total Assessment | $2,128,658 |
PROPERTY TAXES
Parcel Number
4240-012-025
Land Assessment
$1,753,074
Improvements Assessment
$375,584
Total Assessment
$2,128,658
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615 Sunset Ave
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