616 Sunset Ave 4 Unit Apartment Building $3,150,000 ($787,500/Unit) 4.31% Cap Rate Venice, CA 90291

Situated in a prime Venice location north of Abbot Kinney Blvd, 616 Sunset Ave presents a well-positioned 4-unit multifamily opportunity in one of Los Angeles’ most sought-after coastal submarkets. The property features classic Spanish-style architecture and consists of (4) 2-bedroom / 1-bath units totaling approximately 3,224 square feet on a 4,802 square foot lot.
The units have undergone extensive renovations under current ownership, including new 100-amp electrical panels in each unit, recessed lighting, new outlets and switches, new flooring, new drywall and paint throughout, and updated smoke detectors. Kitchens have been upgraded with new countertops, cabinetry, dishwashers, refrigerators, stoves, and vent hoods, while bathrooms feature new showers, tile, and vanities. Each unit is also equipped with new in-unit stackable washer and dryer systems, significantly enhancing tenant appeal. Second-story units include private balconies with west-facing windows that provide strong natural light and ocean breezes, and a shared outdoor patio area further enhances livability.
The property includes on-site parking for seven vehicles with a durable concrete surface, a new trash enclosure, and a new roof installed in 2022. The building has previously passed the LA SCEP inspection.
Currently offering a strong 4.31% cap rate, 616 Sunset Ave provides investors with stabilized in-place income in a premier coastal location. Positioned within walking distance to retail and dining along Rose Ave and just minutes from the beach, the asset combines comprehensive capital improvements, solid returns, and long-term rental demand in one of Venice’s most desirable neighborhoods.