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659 Vernon Ave 4 Unit Apartment Building $1,897,000 ($474,250/Unit) 5.10% Cap Rate Venice, CA 90291
INVESTMENT HIGHLIGHTS
- Well Maintained & Updated Building
- Great Location
- Market Rents
EXECUTIVE SUMMARY
*** Please contact for additional photos and videos*** : Remodeled and well maintained four-unit building located in an excellent Venice location. Totaling 2,334 SF on a 4803 SF lot, this updated Quadruplex building consists of one 2/1 house at front of property and three units in the rear ( 2/2, 1/1, 1/1 Bed-Bath ). All units have been renovated with new floors, new appliances, remodeled bathrooms and kitchens. Additional upgrades to the building include plumbing, electrical, some newer windows, new roofing, Further features include 4 carport spaces with storage, as well shared back yard and private front yard. This is a wonderful investment property, in a great neighborhood.
FINANCIAL SUMMARY (ACTUAL - 2025) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$132,720
|
$56.86
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$132,720
|
$56.86
|
| Taxes |
$23,712
|
$10.16
|
| Operating Expenses |
$11,700
|
$5.01
|
| Total Expenses |
$35,412
|
$15.17
|
| Net Operating Income |
$97,308
|
$41.69
|
FINANCIAL SUMMARY (ACTUAL - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $132,720 |
| Annual Per SF | $56.86 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $132,720 |
| Annual Per SF | $56.86 |
| Taxes | |
|---|---|
| Annual | $23,712 |
| Annual Per SF | $10.16 |
| Operating Expenses | |
|---|---|
| Annual | $11,700 |
| Annual Per SF | $5.01 |
| Total Expenses | |
|---|---|
| Annual | $35,412 |
| Annual Per SF | $15.17 |
| Net Operating Income | |
|---|---|
| Annual | $97,308 |
| Annual Per SF | $41.69 |
PROPERTY FACTS
| Price | $1,897,000 | Apartment Style | Low-Rise |
| Price Per Unit | $474,250 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.11 AC |
| Cap Rate | 5.10% | Building Size | 2,334 SF |
| Gross Rent Multiplier | 14.29 | Average Occupancy | 100% |
| No. Units | 4 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1910/2025 |
| Property Subtype | Apartment | Parking Ratio | 1.71/1,000 SF |
| Zoning | LARD1.5 - Restricted Density Multiple | ||
| Price | $1,897,000 |
| Price Per Unit | $474,250 |
| Sale Type | Investment |
| Cap Rate | 5.10% |
| Gross Rent Multiplier | 14.29 |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.11 AC |
| Building Size | 2,334 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1910/2025 |
| Parking Ratio | 1.71/1,000 SF |
| Zoning | LARD1.5 - Restricted Density Multiple |
AMENITIES
UNIT AMENITIES
- Dishwasher
- Storage Space
- Washer/Dryer
- Heating
- Tile Floors
- Kitchen
- Hardwood Floors
- Refrigerator
- Yard
- Dining Room
- Freezer
- Garden
SITE AMENITIES
- Controlled Access
- Fenced Lot
- Laundry Facilities
- Gated
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1 | 2 | $3,295 | 758 |
| 1+1 | 2 | $2,235 | - |
1 1
Walk Score®
Walker's Paradise (91)
Bike Score®
Biker's Paradise (91)
PROPERTY TAXES
| Parcel Number | 4240-013-025 | Total Assessment | $1,194,643 |
| Land Assessment | $742,216 | Annual Taxes | $23,712 ($10.16/SF) |
| Improvements Assessment | $452,427 | Tax Year | 2025 |
PROPERTY TAXES
Parcel Number
4240-013-025
Land Assessment
$742,216
Improvements Assessment
$452,427
Total Assessment
$1,194,643
Annual Taxes
$23,712 ($10.16/SF)
Tax Year
2025
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VIDEOS
MATTERPORT 3D EXTERIOR
MATTERPORT 3D TOUR
PHOTOS
STREET VIEW
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659 Vernon Ave
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