2021 Duplex by Abbot Kinney & Rose Ave. 609 Broadway St

2 Unit Apartment Building $4,950,000 ($2,475,000/Unit) 4.78% Cap Rate Venice, CA 90291

INVESTMENT HIGHLIGHTS

  • Built in 2021, Scandinavian-inspired townhome duplex designed by award-winning Venice architect Robert Thibodeau of Design Universal Architects
  • Comprised of (1) 4-bdrm. and 4-bath 3-story townhome w/ rooftop deck and (1) 3-bdrm. and 3-bath 3-story townhome w/ rooftop deck
  • Property amenities include in-unit laundry, gated and secured entry, (2) 1-car garages, and surface parking spaces
  • 1 mile from a selection of lively community hubs including Abbot Kinney (0.4 Mile), Rose Ave, Venice Beach (0.6 mile), and Ocean Park (1 Mile)
  • Redwood ceilings in the 2nd floor living area & master suite, 15 foot ceilings, Caesarstone countertops, top-of-the-line appliances, recessed lighting

EXECUTIVE SUMMARY

609 & 611 Broadway is a Scandinavian-inspired townhome duplex designed by award-winning Venice architect Robert Thibodeau of Design Universal Architects. Built in 2021, this new construction property embodies the Venice lifestyle many dream about; blending unique architectural details, elegance, functionality, and a premier walkable location. Located 1 block south of Brooks Ave, its central Venice location offers compelling fundamentals, abundant entertainment and dining amenities, and convenient access to employment hubs throughout Silicon Beach. 609 & 611 Broadway are less than a mile from a selection of lively community hubs including Abbot Kinney (0.4 Mile), Rose Ave, Venice Beach (0.6 mile), and Ocean Park (1 Mile). Comprised of (1) 4-bdrm. and 4-bath 3-story townhome w/ rooftop deck and (1) 3-bdrm. and 3-bath 3-story townhome w/ rooftop deck. Each townhome’s layout is meticulously designed, allowing for flexibility between comfortable and luxurious daily living, entertaining, and al-fresco dining. Designed by Robert Thibodeau, this well-known architect believes in regional modernism and working with the local climate and lifestyle. He achieves this concept by getting light, protecting privacy, and working with textures and materials native to the area. Each contemporary townhome features Scandinavian-inspired architecture,
redwood ceilings in the 2nd floor living area and master suite, signature 15 foot ceilings for an open and airy entertainment space, Caesarstone countertops, top-of-the-line appliances, recessed lighting, and rooftop deck with firepit. Property amenities include in-unit washer and dryer, gated and secured entry, (2) 1-car garages, and surface parking spaces. 609 & 611 Broadway present a future value-add opportunity, as the duplex may be converted into individual condos (buyer to verify).

FINANCIAL SUMMARY (ACTUAL - 2024) 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

PROPERTY FACTS

Price $4,950,000
Price Per Unit $2,475,000
Sale Type Investment
Cap Rate 4.78%
Gross Rent Multiplier 14.47
No. Units 2
Property Type Multifamily
Property Subtype Apartment
Apartment Style Townhome
Building Class B
Lot Size 0.12 AC
Building Size 6,127 SF
Average Occupancy 100%
No. Stories 3
Year Built 2022
Parking Ratio 0.65/1,000 SF

UNIT AMENITIES

  • Air Conditioning
  • Washer/Dryer
  • Heating
  • Security System
  • Tile Floors
  • Hardwood Floors
  • Vaulted Ceiling
  • Stainless Steel Appliances
  • Views
  • Walk-In Closets
  • Deck
  • Dining Room
  • Skylights

SITE AMENITIES

  • Controlled Access
  • Security System
Walk Score®
Walker's Paradise (92)
Bike Score®
Biker's Paradise (97)

ZONING

Zoning Code LARD1.5 (residential)
  • Listing ID: 34663261

  • Date on Market: 1/30/2025

  • Last Updated:

  • Address: 609 Broadway St, Venice, CA 90291