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Listing Details

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School Ratings & Info

Description

This beautiful 2 unit plus one non-conforming unit, was built in 1988 and is for sale for the first time! There really is nothing else like it in the Venice Beach area. We expect this property to sell quickly. The property consists of a 2 Bd/3 Ba unit, a 2 Bd/2.5 Ba unit, and a 1 Bd/1 Ba non-conforming unit. All units are townhouse style units. Both of the 2 bedroom units have roof top decks with panoramic views. The 2 Bd/3 Ba unit is currently rented to a long term tenant for $5,000/month, and the owner is operating the other two units as AIRBNBs, commanding nightly rents of $250/night for the 1 Bd/1 Ba unit and $349/night for the 2 Bd/2.5 Ba unit. The units have all been recently beautifully renovated and include a washer/dryer.Immediate upside can be achieved by converting the 1 Bd/1 Ba to a legal ADU. There is ample parking at the building including 2 tandem garage spots and 2 tuck under spots, for a total of 6 parking spots. The property is situated approximately a half block from Venice Beach and is just 3 short blocks from the lively restaurant and bar scene on Washington Blvd. With an 88 Walk Score, most errands can be accomplished on foot. This is the perfect property for an owner/user or seasoned investor with the ability to maximize income through long or short term rentals. Offering Memorandum included as Supplement.

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Based on information from California Regional Multiple Listing Service, Inc. as of 2021-09-21T00:27:35.857. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Latrice Deluna Homes | The Orion Group. Licensed in the State of California, USA.
www.findorangecountyhomelistings.com/homes/117656068
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32 28th Place Venice, CA 90291

  • Price: $2,950,000
  • Status: Active
  • ID#: SB21114168
0
Beds
0
Baths
0
½ Baths
0.06
Acres
1988
Built
Neighborhood:
C11 - Venice
County:
Los Angeles
Area:
C11 - Venice
Property Description
This beautiful 2 unit plus one non-conforming unit, was built in 1988 and is for sale for the first time! There really is nothing else like it in the Venice Beach area. We expect this property to sell quickly. The property consists of a 2 Bd/3 Ba unit, a 2 Bd/2.5 Ba unit, and a 1 Bd/1 Ba non-conforming unit. All units are townhouse style units. Both of the 2 bedroom units have roof top decks with panoramic views. The 2 Bd/3 Ba unit is currently rented to a long term tenant for $5,000/month, and the owner is operating the other two units as AIRBNBs, commanding nightly rents of $250/night for the 1 Bd/1 Ba unit and $349/night for the 2 Bd/2.5 Ba unit. The units have all been recently beautifully renovated and include a washer/dryer.Immediate upside can be achieved by converting the 1 Bd/1 Ba to a legal ADU. There is ample parking at the building including 2 tandem garage spots and 2 tuck under spots, for a total of 6 parking spots. The property is situated approximately a half block from Venice Beach and is just 3 short blocks from the lively restaurant and bar scene on Washington Blvd. With an 88 Walk Score, most errands can be accomplished on foot. This is the perfect property for an owner/user or seasoned investor with the ability to maximize income through long or short term rentals. Offering Memorandum included as Supplement.
Exterior Features

Carport Spaces 2 Carport YN Yes Lot Features 2-5 Units/Acre Number Of Separate Electric Meters 3 Parking Features CoveredGarageTandem Parking Total 6 Pool Features None Pool Private YN No Property Attached YN Yes View Ocean View YN Yes

Interior Features

Appliances DryerWasher Common Walls 1 Common Wall

Property Features

Additional Parcels YN No Common Interest None Community Features BikingFishingStreet LightsWater Sports Electric Expense 500 Fuel Expense 121 Garage YN Yes Gross Income 161832 Gross Scheduled Income 161832 Insurance Expense 1621 Land Lease YN No Levels Three Or More Listing Agreement Exclusive Right To Sell Listing Service Full Service Listing Terms CashCash To New Loan1031 Exchange Net Operating Income 109907 New Construction YN No New Taxes Expense 37549 Number Of Separate Gas Meters 3 Number Of Separate Water Meters 1 Operating Expense 47070 Rent Control YN No Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Trash Expense 750 Vacancy Allowance Rate 3 Water Sewer Expense 250 Water Source Public Zoning Lard1.5

Listing provided courtesy of Martin Ensbury of Keller Williams Beach Cities and Scott Bright of Keller Williams Beach Cities


Based on information from California Regional Multiple Listing Service, Inc. as of 2021-09-21T00:27:35.857. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Latrice Deluna Homes | The Orion Group. Licensed in the State of California, USA.
 
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Latrice Deluna Homes | The Orion Group
4533 MacArthur Blvd Ste 5074
Newport Beach CA, 92660