RARE 5-UNIT TROPHY PROPERTY ON THE VENICE CANALS WITH/ 2 UNITS VACANT - Ideal to live in one and rent the other four units! Or for 1031 exchange investors, or if you need stability in your real estate portfolio, park your cash for a 4.2% current cap rate, plus the ability to seek higher rents as units turnover for a projected 4.5% cap*. Nestled along the picturesque Venice Canals, this property has been meticulously maintained with love over the years. It consists of a 1 Bdrm/1 Bath Front house bungalow, perfect as a owners/unit that is vacant and recently refurbished, as well as four more charming units, with one that is vacant and ready to be rented at market rates. Tons of upside potential by bringing the vacant units up to market rates, or leverage this as the perfect owner/user property - live in the front house and start generating passive income immediately! There are endless possibilities here, unlike any other. //About this property: The 1 Bdrm/1 Bath detached front house bungalow gracefully faces the serene canals and sets the tone for the entire property. This beautiful unit stands ready for you to call home. Recently refurbished, you will enjoy a light-infused, functional floor plan, a cozy restored Franklin fireplace, a full kitchen with granite counters, stainless steel appliances, and a stackable washer and dryer. The spacious bedroom has plenty of closet space and a full bathroom with a jacuzzi-style spa tub. There are private outdoor decks on the front and side of the property- perfect for hosting friends, BBQ, and dining alfresco, or relaxing and unwinding, taking in the ocean breeze. Rent this unit to its fullest potential, or move right in to have your own space to call home!! To the rear of the property are three studio units and a junior 1 Bdrm unit that exude charm and a modern flair (two upstairs and two downstairs); all units have shared outdoor space, and each unit boasts a fully equipped kitchen, washer/dryer, and more. A vacant upstairs studio was just completely refurbished and is ready to be rented at market rates! Beautifully landscaped throughout, and a true sense of community among the tenants. Whether you call this property home or utilize it as an investment, it is ready for you to park your cash! Take advantage of this rare chance to own a piece of Venice's history and enjoy the tranquility of canal-side living, all within one of the most sought-after neighborhoods in Southern California.

Listed By CRMLS_CA / Tamra (Tami) Pardee / Pardee Properties

Last checked: Checking… • Last updated May 14, 2024 • Source: CRMLS_CA

MLS# 24357799 — Report a problem