2176 S Venice Blvd

Los Angeles, CA 90006

17-unit value-add opportunity priced at only 214k/door with a remarkable Current Cap Rate of 6.25% and 11.4 GRM and an incredible upside potential to 10.48% Cap Rate and 7.61 GRM on proforma.

Sales Price $3,650,000

Beds

16

Baths

18

Home Size

9311 Sq. Ft.

Lot Size

10015 Sq. Ft.

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17-unit value-add opportunity priced at only 214k/door with a remarkable Current Cap Rate of 6.25% and 11.4 GRM and an incredible upside potential to 10.48% Cap Rate and 7.61 GRM on proforma.

The property consists of 14 units plus 3 brand-new attached ADUs currently under construction. Additionally, 5 of the 14 units have been already fully remodeled with permits and boast new modern cabinets, flooring, lighting, new bathrooms, and significant exterior improvements. Each unit is individually metered for gas and electricity while tenants cover garbage fees - saving you money on utilities from day one. The large 10,015 SF lot comes complete with gated parking spaces that can accommodate up to multiple cars and requires no soft-story retrofitting. Plus, there are Nearly RTI plans to add 2 additional detached ADUs (2bed/2bath & 3bed/3bath) over the carport to improve the numbers to only 192k/unit, 324/SF, 8.2% Cap Rate, and 9 GRM on current with upside to 12% Cap Rate and 6.6 GRM on proforma after building the detached ADUs. And let's not forget about its unbeatable location near popular neighborhood attractions like Alibi Coffee Co., Starbucks, Koreatown, DTLA, Culver City, and public transportation options all while being in close proximity to major freeways ensuring smooth travel times within Los Angeles city limits. Don't wait another moment to grab this rare opportunity before it slips away!

This home located at 2176 S Venice Blvd is currently active and has been available on pardeeproperties.com for 8 days. This property is listed at $3,650,000. It has 16 beds and 18 bathrooms. The property was built in 1963. 2176 S Venice Blvd is in the Mid Los Angeles community of Los Angeles County.

Quick Facts

  • 8 days on market
  • Built in 1963
  • Total parking spaces 0Car
  • Gated, Uncovered, Covered Parking
  • Community | Mid Los Angeles
  • MLS# | 24-364967

Features

  • Ceiling Fan Cooling
  • Wall Heat
Connect with an agent
(4)

Colleen Buerge

Partner | DRE #01875348

Listed By Armin Soleimani · Global Platinum Properties, Inc.

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