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About the Listing CLW-X82195 - CLW-X91371,sbensbnic
Located just one block from the sand at Venice Beach, this rare two parcel offering combines seven highly desirable units in one of Los Angeles' most iconic coastal neighborhoods. The unit mix includes one 1BR/1.5BA, four 1BR/1BA units, one studio, and a standalone 1BR/1BA cottage situated on the adjacent parcel at 1007 Pacific .In addition to its premier location, the property provides exceptional privacy and security with fenced and gated entry. A private, fenced courtyard at the front of the property serves as a shared outdoor space, while the rear area offers ample room for tenants to park and secure bicycles, the preferred mode of transportation at the beach. At the list price, the asset delivers a 4.34% cap rate with a pro forma cap rate of 5.43%, supported by competitive pricing metrics of $314,000 per door and $555 per square foot, strong for a beach adjacent property . There may also be potential to subdivide the parcels for resale or owner/user occupancy, subject to verification with the City of Venice.
Listing Highlights
Status
Active
Days on Site
18
Property Type
Multi-Family
MLS ®
26811603
Year Built
1907
Total Square Footage
3,964
Lot/Acreage
0.07
County
Los Angeles
Area
C11 - Venice
Interior Details
- Bedrooms: 6
- Bathrooms: 8 Full
- Appliances: Disposal
- Air Cond:
- Heating: Natural Gas
- Fireplaces:
- Floor:
- Above Ground Sq Ft:
- Below Ground Sq Ft: n/a
- Basement:
- Other:
- Water:
Exterior Details
- Lot Description: No Land Lease
- Garage Capacity: N/A
- Parking Spaces: 0
- Zoning: LARD1.5
- Roof:
- Others: 2+ Total Units
- Sewer:
Financial Details
- Tax Amount: N/A
- Taxes w/Assessments: N/A
- Tax/Property ID: 4226003029
- Tax Year: N/A
Payment Calculator
Monthly Payment
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- in Taxes
Years
% Down Payment
% Mortgage Rate
Questions About..
49 Wavecrest Ave Venice, CA 90291
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