Property listed by The Agency, Mario Aceves 424-835-7230
$2,995,000
Positioned in one of Venice's most coveted pockets just steps from the iconic Walk Streets, the vibrant boutiques of Abbot Kinney, and the ocean, this unique four-unit compound presents an exceptional value opportunity west of Lincoln. Tucked behind mature, lush landscaping on one of Venice's best streets, the property features… Read More almost 3,000 sqft of charming living spaces, complemented by a communal laundry facility and a 1-car garage. Delivered completely vacant, this compound serves as a turnkey canvas ready to be optimized to its full short-term rental potential. The spacious 1,500 sqft original Spanish-style front home features two bedrooms and three bathrooms, anchored in the rear by a completely detached 735 sqft upstairs apartment containing two bedrooms and one bathroom. The remaining footprint is composed of 200 sqft ground-floor converted garage studio, alongside a separate 160 sqft bohemian tiki hut. Detailed financial track record and platform performance statements are available to qualified buyers upon request. Verified operational financials showcase the property's massive short-term revenue engine, showing an annualized gross run-rate between $310,000 to $860,000 in recent years, with a historical performance ceiling that peaked at $1,135,000 in a single operating year. The compound offers a versatile investment strategy: it functions as a rock-solid, passive investment with an as-is traditional long-term leasing Cap Rate starting at 4.80%, while simultaneously offering a battle-tested short-term platform history that has delivered up to an exceptional 26.40% Cap Rate at peak historical capacity. For an owner-user, the compound functions as an incredible mortgage offset while occupying the detached main front property. This is an elite coastal real estate play built for the short-term market, where multi-unit flexibility meets a battle-tested revenue engine. Read Less
Listing Snapshot
Days Online
29
Last Updated
Beds
6
Square Ft.
2,992
Lot Size
0.11 Acres
Year Built
1924
MLS Number
26835373
Additional Details
Appliances & Equipment
Dishwasher, Refrigerator
Building
Built in 1924, Living area: 2992.0, 2 buildings, 2 stories, Levels: Two
Cooling
CentralAir
Garage
1 spaces
Heating
Central
Income
Gross Income: $30,000
Interior Features
CeilingFans, Loft
Laundry
SeeRemarks
Lot
0.1101 acres, Dimensions: 48x100
Parking
1 total parking spaces, ConvertedGarage, DoorSingle, Garage, OnStreet
Taxes
Parcel Number: 4241030006, Zoning: LAR2
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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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