
Description
4.53% Cap Rate & 15.7 GRM! Ability to add an ADU! Fully renovated turnkey triplex West of Lincoln in the heart of Venice. Upgraded Plumbing, Electrical, Roof. The property sits a mile from the Venice Canals, Venice Beach Boardwalk, and is walking distance to the shops (Whole Foods & Erewhon) and restaurants on Abbot Kinney, Rose, and Lincoln Blvd. This two-story building contains one large bottom floor unit, which is 3-Beds/3-Bath and two units on the second floor: one 3-Bed/2-Bath and one 2-Bed/2-Bath. The property was originally built in 1977, and completely renovated in 2021 with high-end finishes for the most discerning residents. The property features a spacious front yard and a large lot in the back that has 5 surface parking spaces. This investment is offered at a 15.7 GRM and 4.53% Cap Rate with the ability to achieve a 5.06% Cap Rate by converting the garage into a Studio ADU (Plans have been submitted). Contact us today for a showing!
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8BEDS
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0.1ACRES
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0BATHS
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01/2 BATHS
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2,801SQFT
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$1,125$/SQFT
School Ratings & Info
Description
4.53% Cap Rate & 15.7 GRM! Ability to add an ADU! Fully renovated turnkey triplex West of Lincoln in the heart of Venice. Upgraded Plumbing, Electrical, Roof. The property sits a mile from the Venice Canals, Venice Beach Boardwalk, and is walking distance to the shops (Whole Foods & Erewhon) and restaurants on Abbot Kinney, Rose, and Lincoln Blvd. This two-story building contains one large bottom floor unit, which is 3-Beds/3-Bath and two units on the second floor: one 3-Bed/2-Bath and one 2-Bed/2-Bath. The property was originally built in 1977, and completely renovated in 2021 with high-end finishes for the most discerning residents. The property features a spacious front yard and a large lot in the back that has 5 surface parking spaces. This investment is offered at a 15.7 GRM and 4.53% Cap Rate with the ability to achieve a 5.06% Cap Rate by converting the garage into a Studio ADU (Plans have been submitted). Contact us today for a showing!
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Based on information from the Combined LA/Westside Multiple Listing Service as of 2022-05-18T21:42:57.743. 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.