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About the Listing CLW-X81461 - CLW-X78616,CLW-X56531
A rare value-add opportunity in the very heart of Venice, just two short blocks from the sand. Positioned on a 5,749 SF corner lot, this fully occupied 8-unit multifamily property offers immediate income with compelling long-term upside in one of Southern California's most iconic coastal neighborhoods. The 3,360 SF building features an ideal unit mix of four 1-bedroom residences and four studio units, appealing to Venice's strong and diverse rental market. Recent improvements include a newly redone balcony to satisfy SB271 plus upgrading electrical sub-panels in the works. Two two-car garages, along with additional on-site parking, provide a valuable amenity rarely found this close to the beach. The garages present potential for ADU conversion (buyer to verify), offering a clear path to increased density and revenue. With upside potential in rents, this property stands as a compelling value-add investment. Unmatched in location, the property is just blocks from Venice Beach, the Boardwalk, Main Street, Rose Avenue, and Abbot Kinney, placing tenants at the center of Venice's celebrated lifestyle, dining, and culture. This is a distinctive opportunity to acquire a stabilized, income-producing asset with future growth potential in one of Los Angeles' most coveted coastal enclaves.
Listing Highlights
Status
Active With Contingency
Days on Site
35
Property Type
Multi-Family
MLS ®
26656335
Year Built
1956
Total Square Footage
3,360
Lot/Acreage
0.13
Interior Details
- Bedrooms: 4
- Bathrooms: 8 Full
- Appliances:
- Air Cond:
- Heating: Wall Furnace
- Fireplaces:
- Floor:
- Above Ground Sq Ft:
- Below Ground Sq Ft: n/a
- Basement:
- Other:
- Water:
Exterior Details
- Lot Description: Front Yard,No Land Lease
- Garage Capacity: 4 car
- Parking Spaces: 4
- Zoning: LARD1.5
- Roof: Composition
- Others: 2+ Total Units
- Sewer: Other
Financial Details
- Tax Amount: N/A
- Taxes w/Assessments: N/A
- Tax/Property ID: 4286023026
- Tax Year: N/A
Payment Calculator
Monthly Payment
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- in Taxes
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Questions About..
51 Thornton Ave Venice, CA 90291
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