817 Broadway St - 815–817 Broadway Venice Triplex 3 Unit Apartment Building Offered at $2,495,000 at a 4.07% Cap Rate Venice, CA 90291

815–817 Broadway offers a rare opportunity to acquire a thoughtfully updated, income-producing triplex in one of Venice’s most desirable residential pockets. The property combines strong in-place cash flow, meaningful upside, valuable parking, and future value-add potential through a possible conversion of approximately 500 sq ft of storage space into a studio ADU.
The property is currently generating $12,100 per month in gross rental income, or $145,200 annually, with projected rents increasing to $12,450 per month / $149,400 annually based on an updated projected rent of $4,000/month for Unit 2. One of the rear units is expected to be delivered vacant, creating an attractive opportunity for an owner-user or investor to capture market rent.
In addition to the existing income, the property may benefit from a valuable RSO exemption, offering flexibility for future rent growth and operational efficiency. The potential conversion of approximately 500 sq ft of storage space into a studio ADU could create an additional estimated $2,000–$3,000 per month in income, subject to buyer verification, permitting, and city approval.
A major differentiator is the property’s seven garage parking spaces, an unusually strong amenity in Venice that enhances tenant appeal and may create additional income opportunities.