Venice Bungalow Compound by Abbot Kinney Blvd | 315 Vernon Ave
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Venice Bungalow Compound by Abbot Kinney Blvd 315 Vernon Ave
6 Unit Apartment Building $5,400,000 ($900,000/Unit) 4.60% Cap Rate Venice, CA 90291
Investment Highlights
- Craftsman bungalow compound, featuring 6 units on a 12,008 SF resort-like lot, blocks from Abbot Kinney & 0.5 miles from Venice Beach
- Each bungalow was masterfully restored to showcase classic Craftsman bungalow architecture while adding a fun eclectic design twist
- Interiors were upgraded with hardwood floors, stainless-steel appliances, wall A/C and heating units, and an in-unit washer and dryer
- 12,008 SF expansive resort-style lot with communal outdoor areas, manicured gardens, lush foliage, firepits, and tall mature trees
- Classic Hollywood Golden era accents include deep green colored cabinets, brass hardware, subway tiles in the kitchen and bathroom, and bay windows.
- Villas of Venice is a part of the Golden Era Collection, four impeccably restored multifamily complexes in prime Los Angeles locations
Executive Summary
***3rd Price Reduction - $750,000 from originially listed price *** The Villas of Venice are an eclectic collection of 6 Craftsman bungalows built in 1906 & 1922 that were masterfully restored to their original charm. Set on an idyllic resort-like lot, the Villas of Venice create a private hideaway yet located steps from Venice Beach and Abbot Kinney Blvd. Each bungalow was masterfully restored to showcase classic Craftsman bungalow architecture while adding a fun eclectic design twist. Classic Hollywood Golden era accents including deep green colored cabinets, brass hardware, and a Hollywood Regency style chandelier add a true retro glamour factor to one of the restored kitchens. The extensive use of subway tiles in kitchens and baths creates a retro vibe for today. Breakfast nooks and window seats make these the perfect casual beach bungalows. Each bright and spacious unit features hardwood floors, exposed beams, and ornate detailing in the kitchen and bathroom. Unit interiors include stainless steel appliances, central A/C, and heat, and in-unit washer and dryer. Shared outdoor living space creates community here. The Villas of Venice is part of the Golden Era Collection, four impeccably restored multifamily complexes in prime Los Angeles locations. Please contact Kenny Stevens and Alyson Richards for more information.
Financial Summary (Actual - 2023) Click Here to Access |
Annual | Annual Per SF |
---|---|---|
Gross Rental Income | $99,999 | $9.99 |
Other Income | $99,999 | $9.99 |
Vacancy Loss | $99,999 | $9.99 |
Effective Gross Income | $99,999 | $9.99 |
Taxes | $99,999 | $9.99 |
Operating Expenses | $99,999 | $9.99 |
Total Expenses | $99,999 | $9.99 |
Net Operating Income | $99,999 | $9.99 |
Financial Summary (Actual - 2023) Click Here to Access
Gross Rental Income | |
---|---|
Annual | $99,999 |
Annual Per SF | $9.99 |
Other Income | |
---|---|
Annual | $99,999 |
Annual Per SF | $9.99 |
Vacancy Loss | |
---|---|
Annual | $99,999 |
Annual Per SF | $9.99 |
Effective Gross Income | |
---|---|
Annual | $99,999 |
Annual Per SF | $9.99 |
Taxes | |
---|---|
Annual | $99,999 |
Annual Per SF | $9.99 |
Operating Expenses | |
---|---|
Annual | $99,999 |
Annual Per SF | $9.99 |
Total Expenses | |
---|---|
Annual | $99,999 |
Annual Per SF | $9.99 |
Net Operating Income | |
---|---|
Annual | $99,999 |
Annual Per SF | $9.99 |
Property Facts
Price | $5,400,000 | Apartment Style | Low Rise |
Price Per Unit | $900,000 | Building Class | C |
Sale Type | Investment | Lot Size | 0.28 AC |
Cap Rate | 4.60% | Building Size | 4,826 SF |
Gross Rent Multiplier | 14.44 | Average Occupancy | 100% |
No. Units | 6 | No. Stories | 2 |
Property Type | Multifamily | Year Built/Renovated | 1922/2018 |
Property Subtype | Apartment | Parking Ratio | 1.66/1,000 SF |
Price | $5,400,000 |
Price Per Unit | $900,000 |
Sale Type | Investment |
Cap Rate | 4.60% |
Gross Rent Multiplier | 14.44 |
No. Units | 6 |
Property Type | Multifamily |
Property Subtype | Apartment |
Apartment Style | Low Rise |
Building Class | C |
Lot Size | 0.28 AC |
Building Size | 4,826 SF |
Average Occupancy | 100% |
No. Stories | 2 |
Year Built/Renovated | 1922/2018 |
Parking Ratio | 1.66/1,000 SF |
Unit Amenities
- Air Conditioning
- Washer/Dryer
- Security System
- Tile Floors
- Hardwood Floors
- Stainless Steel Appliances
- Porch
Site Amenities
- Courtyard
- Security System
- Zen Garden
Unit Mix Information
Description | No. Units | Avg. Rent/Mo | SF |
---|---|---|---|
3+2 | 1 | $5,616 | - |
2+2 | 1 | $5,720 | - |
2+1 | 2 | $5,350 | - |
1+1.5 | 1 | $4,467 | - |
1+1 | 1 | $3,795 | - |
Walk Score ®
Walker's Paradise (94)
Bike Score ®
Biker's Paradise (100)
zoning
Zoning Code | LARD1.5 (Multi-Family) |
LARD1.5 (Multi-Family) |
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Venice Bungalow Compound by Abbot Kinney Blvd | 315 Vernon Ave
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