2176 S Venice Boulevard
Los Angeles, CA 90006
- – beds
- – baths
- – sqft
- 10,015 sqft lot
- 1963 build
- – on site
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17-unit value-add opportunity priced at only 214k/door with a remarkable Current Cap Rate of 6.25% and 11.4 GRM and an incredible upside potential to 10.48% Cap Rate and 7.61 GRM on proforma. The property consists of 14 units plus 3 brand-new attached ADUs currently under construction. Additionally, 5 of the 14 units have been already fully remodeled with permits and boast new modern cabinets, flooring, lighting, new bathrooms, and significant exterior improvements. Each unit is individually metered for gas and electricity while tenants cover garbage fees - saving you money on utilities from day one. The large 10,015 SF lot comes complete with gated parking spaces that can accommodate up to multiple cars and requires no soft-story retrofitting. Plus, there are Nearly RTI plans to add 2 additional detached ADUs (2bed/2bath & 3bed/3bath) over the carport to improve the numbers to only 192k/unit, 324/SF, 8.2% Cap Rate, and 9 GRM on current with upside to 12% Cap Rate and 6.6 GRM on proforma after building the detached ADUs. And let's not forget about its unbeatable location near popular neighborhood attractions like Alibi Coffee Co., Starbucks, Koreatown, DTLA, Culver City, and public transportation options all while being in close proximity to major freeways ensuring smooth travel times within Los Angeles city limits. Don't wait another moment to grab this rare opportunity before it slips away!
Last checked:
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Last updated Jun 11, 2024
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MLS# 24364967 —
The Building
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Year Built:1963
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New Construction:No
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Architectural Style:Traditional
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Building Area Total:9311.00
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# of Buildings:1
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Total Number Of Units:17
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Stories Total:2
Interior
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Levels:Two
Location
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Directions:From Western Ave., Turn East onto Venice Blvd., the property is on the South West Corner of Hobart & Venice.
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Latitude:34.04336300
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Longitude:-118.30560200
The Property
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Property Type:Residential Income
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Zoning:LAC1
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Lot Size Area:10015.0000
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Lot Size Acres:0.2299
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Lot Size SqFt:10015.00
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Lot Size Source:Owner
Listing Agent
- Contact info:
- No listing contact info available
The Listing
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Special Listing Conditions:Standard
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Parcel Number:5074018025
Heating & Cooling
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Heating:1
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Heating:Wall Furnace
Appliances
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Included:Yes
The Community
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Senior Community:No
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Association:No
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Assessments:No
Parking
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Parking:Yes
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Parking:Gated, Uncovered, Covered
Walk Score®
Provided by WalkScore® Inc.
Walk Score is the most well-known measure of walkability for any address. It is based on the distance to a variety of nearby services and pedestrian friendliness. Walk Scores range from 0 (Car-Dependent) to 100 (Walker’s Paradise).
Bike Score®
Provided by WalkScore® Inc.
Bike Score evaluates a location's bikeability. It is calculated by measuring bike infrastructure, hills, destinations and road connectivity, and the number of bike commuters. Bike Scores range from 0 (Somewhat Bikeable) to 100 (Biker’s Paradise).
Transit Score®
Provided by WalkScore® Inc.
Transit Score measures a location's access to public transit. It is based on nearby transit routes frequency, type of route (bus, rail, etc.), and distance to the nearest stop on the route. Transit Scores range from 0 (Minimal Transit) to 100 (Rider’s Paradise).
Soundscore™
Provided by HowLoud
Soundscore is an overall score that accounts for traffic, airport activity, and local sources. A Soundscore rating is a number between 50 (very loud) and 100 (very quiet).
Sale history
| Date | Event | Source | Price | % Change |
|---|---|---|---|---|
|
6/11/24
Jun 11, 2024
|
Sold | CRMLS_CA | $3,325,000 | -8.9% |
|
5/30/24
May 30, 2024
|
Pending | CRMLS_CA | $3,650,000 | |
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3/6/24
Mar 6, 2024
|
Listed / Active | CRMLS_CA | $3,650,000 |
