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$ 4,295,000
Est. payment | /mo
4,858 SqFt
$ 4,295,000
Est. payment | /mo
4,858 SqFt
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 4,858 sqft
Price per Sqft $884
MLS Listing ID CL26695459
HOA Y/N No
Year Built 1973
Lot Size 3,151 Sqft
Acres 0.0723
Property Sub-Type Other
Property Description
Priced for Quick Sale!! Rare Silicon Beach Investment Property, 5 unit Building on the Marina Peninsula. Located on a beautiful walk street, steps to the beach, close to all the popular restaurants and shops in Venice and Marina Del Rey. All New York style lofts and recently remodeled units, complete with some sq ft expansion, common area remodel, Earthquake/ soft story retrofit and new garage doors. Cap rate 5.3 and Gross income of $309,120 annually with great upside potential. 2 Multi level units some with 2 story living rooms with multipurpose loft area. Great mix of units, most with their own private garages. 2 units have large spectacular Ocean view rooftop patios. Many possibilities from short term rentals, or owner user one or a few of the units. Possibilities are endless. Multi-level units have large, bright 2 story living rooms with open kitchen w/ stainless steel appliances with granite counter tops and more. Units 2 and 3 have been completely remodeled. 4 Units are Luxury exempt and not subject to rent control restrictions. Earthquake retrofit has been completed. Potential to increase rents to $331,800 with a 5.8 CAP.
Location
State CA
County Los Angeles
Zoning LAR3
Interior
Cooling None
Fireplace No
Laundry Common Area, Inside
Exterior
View Y/N true
View Other, Ocean
Building
Water Other
New Construction No
Others
Tax ID 4294003002
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Listed by James Allan • Compass
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Patrick Nagel
REALTOR® | Lic# 1760790