Venice Apartments 1146 Venice Blvd 4 Unit Apartment Building $1,990,000 ($497,500/Unit) 3.41% Cap Rate Venice, CA 90291
INVESTMENT HIGHLIGHTS
- Well maintained Building
- Great Location
- Good Sized Units
EXECUTIVE SUMMARY
Fantastic opportunity to acquire this remodeled and very well maintained four-unit building, located in an excellent Venice location. Totaling 3,116 SF on a 4,489 SF lot, this updated two story building, consists of 4 units, each 1 bed /1 bath. All units have been recently renovated with new floors, new appliances, remodeled bathrooms and kitchens. Additional upgrades to the building include new copper plumbing, updated electrical throughout and newer windows. Further features include 4 garage spaces, storage, as well as great patio areas. This is a wonderful investment property, in a great neighborhood.
FINANCIAL SUMMARY (ACTUAL - 2024) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$104,760
|
$33.62
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$104,760
|
$33.62
|
| Taxes |
$24,875
|
$7.98
|
| Operating Expenses |
$12,025
|
$3.86
|
| Total Expenses |
$36,900
|
$11.84
|
| Net Operating Income |
$67,860
|
$21.78
|
PROPERTY FACTS
| Price | $1,990,000 |
| Price Per Unit | $497,500 |
| Sale Type | Investment |
| Cap Rate | 3.41% |
| Gross Rent Multiplier | 19 |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.10 AC |
| Building Size | 3,116 SF |
| Average Occupancy | 97% |
| No. Stories | 2 |
| Year Built/Renovated | 1952/2015 |
| Parking Ratio | 1/1,000 SF |
UNIT AMENITIES
- Dishwasher
- Washer/Dryer
- Ceiling Fans
- Refrigerator
- Tub/Shower
- Yard
- Dining Room
- Garden
- Large Bedrooms
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 4 | $2,198 | 779 |
1 of 1
Walk Score®
Walker's Paradise (90)
Bike Score®
Very Bikeable (87)
PROPERTY TAXES
| Parcel Number | 4236-001-014 | Total Assessment | $1,524,362 |
| Land Assessment | $1,106,202 | Annual Taxes | $24,875 ($7.98/SF) |
| Improvements Assessment | $418,160 | Tax Year | 2024 |
ZONING
| Zoning Code | R4, Los Angeles (Apartment Block) |
