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- LoopNet Team
523 Main St
Venice, CA 90291
Multifamily Property For Sale · 5 Units
Investment Highlights
- Year-One Cap Rate ~ 6.37%
- Two blocks away from Santa Monica
- Across the street from Google’s Venice Headquarters
- Three blocks away from the oceanfront
- Units are individually metered for gas and electric
- New roofing
PROPERTY FACTS
| No. Units | 5 | Lot Size | 0.06 AC |
| Property Type | Multifamily | Building Size | 1,536 SF |
| Property Subtype | Apartment | Average Occupancy | 0% |
| Apartment Style | Low Rise | No. Stories | 1 |
| Building Class | C | Year Built | 1925 |
| No. Units | 5 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.06 AC |
| Building Size | 1,536 SF |
| Average Occupancy | 0% |
| No. Stories | 1 |
| Year Built | 1925 |
Unit Amenities
- Air Conditioning
- Fireplace
- Microwave
- Ceiling Fans
- Kitchen
- Refrigerator
- Oven
- Garden
- Porch
Site Amenities
- Courtyard
- Laundry Facilities
- Storage Space
About 523 Main St , Venice, CA 90291
Year-One 6.37% Cap Rate & 12.7GRM!!! 5-unit Venice Charmer & Cash Cow located in the heart of Silicon Beach. The property is a 2 minute stroll to the famed Venice Beach Boardwalk, a two block walk to the pristine oceanfront, and a quick bike ride to the celebrated Santa Monica Pier! With its impeccable location, this highly sought after complex offers five VACANT studios with equipped kitchens, individually metered gas and electric, and new roofing. The property was built in 1925 and provides excellent natural light and Spanish character. Regarded as one of the highest demand rental markets in the country, this prime asset is well positioned to be a terrific source of cash-flow and accelerated appreciation. Add laundry in-unit and private patios to achieve top of market rents! Inquire for supporting rent comps. All economic metrics are based on Year-One targets, upon lease-up of vacancies. Contact us for an OM today!
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 5 | - | - |
PROPERTY TAXES
| Parcel Number | 4286-016-034 | Improvements Assessment | $357,000 |
| Land Assessment | $2,040,000 | Total Assessment | $2,397,000 |
PROPERTY TAXES
zoning
| Zoning Code | LAR3 |
| LAR3 |
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