This property is located along Venice Blvd and features 5 units including a large 2 bedroom/1 bath owners unit with private patio. All units have been renovated with new two tone paint, dual pane windows, vinyl flooring, stainless steel appliances, ceiling fans, window treatments, vanities, toilets, fixtures, tubs, garage door openers etc. Several units include patio's or balconies. Added value with below market rents make this investment very attractive. Increase revenue by leasing out the garage spaces and increasing the rents. Also, there is an on-site laundry room for tenants to use. This property has an ideal location in the heart of Silicon Beach's "Tech Hub" with close proximity to major employers (Snap Inc., Google, System1, Headspace, and more. Less than a mile away from the famous Venice Beach & Boardwalk and in close proximity to other well-known surrounding amenities and locations, including Muscle Beach, Venice Skatepark, Venice Canals Historic District, Abbot Kinney Boulevard, and Santa Monica Pier. The submarket median home values are expected to increase by approximately 12% in the next 5 years. Adjacent to Culver City, Marina Del Rey, and Santa Monica. Easy access to public transportation and near the 10 and 405 Freeways. This property is only 7 miles away from Los Angeles Airport (LAX) and 2.5 miles away from Santa Monica Airport. In addition, the subject property is 4.5 miles away from West Los Angeles College (WLAC) and 8 miles away from UCLA.
Property Features
Interior Features
- Ceiling Fan(s)
- Recessed Lighting
- Flooring: Tile, Vinyl
- Window Features: Blinds, Screens
Appliances
- Free-Standing Range
- Freezer
- Disposal
- Gas Range
- Gas Cooktop
- Refrigerator
- Water Heater
- Laundry Features: Electric Dryer Hookup, Gas Dryer Hookup, Individual Room
Other Rooms
- Kitchen
- Laundry
- Living Room
Bathrooms
Heating and Cooling
- Heating Features: Wall Furnace
- Heating: Yes
Land Info
- Additional Parcels: No
- Land Lease: No
- Lot Description: Back Yard, Corner Lot, Front Yard, Lawn, Level with Street, Rectangular Lot, Near Public Transit, Sprinklers Drip System, Walkstreet
- Lot Size Acres: 0.1345
- Lot Size Source: Assessor
- Lot Size Square Feet: 5858
Exterior and Lot Features
- Fencing: Excellent Condition, Privacy, Stucco Wall, Wood, Wrought Iron
- Road Frontage Type: City Street
- Road Surface Type: Alley Paved, Paved
Garage and Parking
- Garage Spaces: 4
- Parking Features: Assigned, Covered, Asphalt, Concrete, Driveway Level, Garage, Garage Faces Rear, Garage - Single Door, Street
- Parking Total: 4
Home Features
Homeowners Association
- Association: No
- Calculated Total Monthly Association Fees: 0
- Gardener Expense: 2400
- Maintenance Expense: 2500
Rental Info
- Gross Income: 146400
- Gross Scheduled Income: 146400
- Number of Units Leased: 4
- Tenant Pays: Electricity, Gas
- Vacancy Allowance: 4392
- Rent Control: Yes
Multi-Unit Info
- Number of Units: 5
- Bedrooms in Unit-1: 1
- Bedrooms in Unit-2: 1
- Bedrooms in Unit-3: 1
- Bedrooms in Unit-4: 1
- Bedrooms in Unit-5: 2
- Total Bathrooms in Unit-1: 1
- Total Bathrooms in Unit-2: 1
- Total Bathrooms in Unit-3: 1
- Total Bathrooms in Unit-4: 1
- Total Bathrooms in Unit-5: 2
- Full Bathrooms in Unit-1: 1
- Full Bathrooms in Unit-2: 1
- Full Bathrooms in Unit-3: 1
- Full Bathrooms in Unit-4: 1
- Full Bathrooms in Unit-5: 2
- Unit-1 Furnished Description: Unfurnished
- Unit-2 Furnished Description: Unfurnished
- Unit-3 Furnished Description: Unfurnished
- Unit-4 Furnished Description: Unfurnished
- Unit-5 Furnished Description: Unfurnished
- Unit-2 Garage Spaces: 1
- Unit-3 Garage Spaces: 1
- Unit-4 Garage Spaces: 1
- Unit-5 Garage Spaces: 1
- Unit 1 Total Actual Rent: 2195
- Unit 2 Total Actual Rent: 2195
- Unit 3 Total Actual Rent: 2095
- Unit 4 Total Actual Rent: 2295
- Unit 5 Total Actual Rent: 3420
Amenities and Community Features
- Community Features: Curbs, Gutters, Sidewalks
Other Property Info
- Source Listing Status: Active
- County: Los Angeles
- Source Property Type: Residential Income
- Insurance Expense: 2800
- Area: C11 - Venice
- Source Neighborhood: C11 - Venice
- New Taxes Expense: 31000
- Number of Separate Electric Meters: 5
- Number of Separate Gas Meters: 5
- Number of Separate Water Meters: 1
- Parcel Number: 4236006006
- Professional Management Expense: 6362
- Trash Expense: 1500
- Zoning: LAR4
- Property Subtype: Commercial/Residential
Commercial Info
- Net Operating Income: 89446
- Operating Expense: 52562
Utilities
- Electric: Standard
- Electric Expense: 2000
- Sewer: Public Sewer, Sewer Paid
- Electricity Connected
- Natural Gas Connected
- Sewer Connected
- Water Connected
- Water Source: Public
Building and Construction
- Year Built: 1950
- Building Features: 2
- Common Walls: No Common Walls
- Construction Materials: Concrete, Frame, Stucco
- Entry Level: 1
- Entry Location: 1
- Foundation Details: Slab
- Levels: One, Two
- Property Age: 76
- Property Attached: No
- Property Condition: Updated/Remodeled
- Roof: Composition, Flat, Tar/Gravel
- Levels or Stories: One,Two
- Building Total Stories: 2
- Elevation Units: Feet
- Year Built Source: Assessor
- Architectural Style: Traditional
