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$ 2,200,000
Est. payment | /mo
6 Beds
8 Baths
3,964 SqFt
$ 2,200,000
Est. payment | /mo
6 Beds
8 Baths
3,964 SqFt
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 3,964 sqft
Price per Sqft $554
MLS Listing ID 26811603
Bedrooms 6
HOA Y/N No
Year Built 1907
Lot Size 3,184 Sqft
Property Description
Located just one block from the sand at Venice Beach, this rare two parcel offering combines seven highly desirable units in one of Los Angeles' most iconic coastal neighborhoods. The unit mix includes one 1BR/1.5BA, four 1BR/1BA units, one studio, and a standalone 1BR/1BA cottage situated on the adjacent parcel at 1007 Pacific .In addition to its premier location, the property provides exceptional privacy and security with fenced and gated entry. A private, fenced courtyard at the front of the property serves as a shared outdoor space, while the rear area offers ample room for tenants to park and secure bicycles, the preferred mode of transportation at the beach. At the list price, the asset delivers a 4.34% cap rate with a pro forma cap rate of 5.43%, supported by competitive pricing metrics of $314,000 per door and $555 per square foot, strong for a beach adjacent property . There may also be potential to subdivide the parcels for resale or owner/user occupancy, subject to verification with the City of Venice.
Location
State CA
County Los Angeles
Area C11 - Venice
Zoning LARD1.5
Interior
Heating Natural Gas
Cooling None
Fireplace No
Appliance Disposal
Exterior
Parking Features None
Building
Story 2
Entry Level Multi/Split
Architectural Style Craftsman
Level or Stories Multi/Split
New Construction No
Others
Senior Community No
Tax ID 4226003029
Special Listing Condition Standard
Virtual Tour https://tour.firstimpressionsla.com/order/379278af-da9c-46f7-8b40-08de9ad6db23?branding=false
Listed by Keith Moret Lyon Stahl Investment Real Estate, Inc. #01802527
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Escrow Joe
Realtor® | Lic# 01332311