Property listed by Lyon Stahl Investment Real Estate, Inc., Taylor Avakian 310-425-9838
$5,200,000
559 Sunset Ave | 14-Unit Coastal Multifamily with ADU Potential in Venice. Built in 1964, this well-located Venice multifamily asset totals approximately 10,651 SF on an 11,278 SF RD1.5-zoned lot and features a strong unit mix of (12) 2-bed / 1-bath units and (2) 1-bed / 1-bath units, with three… Read More RTI ADUs currently in plan check. The property will be delivered with five units vacant at close, allowing a new owner to immediately execute a renovation and lease-up strategy while capturing substantial rent growth. Current rents average approximately $2,489/month, while projected market rents are estimated at roughly $3,857/month, offering meaningful upside in one of Los Angeles' most desirable coastal rental markets. Offered at $5,200,000 ($371K/unit | $488.22/SF) with a 5.22% in-place cap rate and 12.44 GRM, the investment presents strong income growth potential as units are upgraded and rents stabilize. Read Less
Listing Snapshot
Days Online
140
Last Updated
Beds
26
Square Ft.
10,651
Lot Size
0.26 Acres
Year Built
1964
MLS Number
25619381
Additional Details
Appliances & Equipment
Dryer, Washer
Building
Built in 1964, Living area: 10651.0, 1 building, Levels: MultiSplit
Income
Gross Income: $397,199, Net Operating Income: $271,375
Lot
0.2588 acres, Dimensions: 81x140
Parking
17 total parking spaces, Carport
Taxes
Parcel Number: 4240010035, Zoning: LARD1.5
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Based on information from California Regional Multiple Listing Service, Inc. as of and/or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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