1520 Andalusia Ave
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1520 Andalusia Ave
8 Unit Apartment Building $2,980,000 ($372,500/Unit) 4.16% Cap Rate Venice, CA 90291
Investment Highlights
- Just steps to Venice's world famous Abbot Kinney Blvd with trending shops, restaurants and galleries.
- Charming courtyard bungalow configuration. Just a short walk to the beach and Venice Boardwalk..
- Heart of Silicon Beach with affluent tenant base and high demand location.
- $375,000 per unit.
Executive Summary
Located just one block south of Abbot Kinney Blvd in Venice's favorite neighborhood! Close to Venice Beach and steps to popular Abbot Kinney shops, restaurants, and galleries. Charming central courtyard configuration with 6 studio and 2 one bedroom apartments. Expenses are approximate (35%) including new property tax. No parking on premises. Please see Offering Memorandum and rent roll under " Attachments". Also included is drone video under property photos. Inside with accepted offer. Thank you for not disturbing the tenants!
Please Contact David.
Please Contact David.
Financial Summary (Actual - 2023) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
-
|
-
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
-
|
-
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2023) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $2,980,000 | Apartment Style | Garden |
| Price Per Unit | $372,500 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.12 AC |
| Cap Rate | 4.16% | Building Size | 3,336 SF |
| Gross Rent Multiplier | 16 | Average Occupancy | 87% |
| No. Units | 8 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 1921 |
| Property Subtype | Apartment |
| Price | $2,980,000 |
| Price Per Unit | $372,500 |
| Sale Type | Investment |
| Cap Rate | 4.16% |
| Gross Rent Multiplier | 16 |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 0.12 AC |
| Building Size | 3,336 SF |
| Average Occupancy | 87% |
| No. Stories | 1 |
| Year Built | 1921 |
Unit Amenities
- Washer/Dryer
- Heating
- Kitchen
- Hardwood Floors
- Refrigerator
- Oven
- Yard
- Deck
- Patio
Site Amenities
- Courtyard
- Laundry Facilities
- Gated
- Vintage Building
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 2 | $1,964 | - |
Walk Score®
Walker's Paradise (97)
Bike Score®
Biker's Paradise (98)
PROPERTY TAXES
| Parcel Number | 4238-004-017 | Improvements Assessment | $630,379 (2024) |
| Land Assessment | $2,356,567 (2024) | Total Assessment | $2,986,946 (2024) |
PROPERTY TAXES
Parcel Number
4238-004-017
Land Assessment
$2,356,567 (2024)
Improvements Assessment
$630,379 (2024)
Total Assessment
$2,986,946 (2024)
zoning
| Zoning Code | LARD1.5 |
| LARD1.5 |
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1520 Andalusia Ave
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