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    1/2 BATHS
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Listing Details

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School Ratings & Info

Description

We are proud to present this very rare opportunity to acquire a triplex in the heart of Venice, CA, located at 2339 Abbot Kinney Blvd, just 0.75 miles from the Venice Beach, and just steps from local shops, restaurants, and entertainment that the world famous Abbot Kinney Blvd has to offer.This 3-unit, 1,792 SqFt multifamily building sits on a 4,858 SqFt lot, and it has a good unit mix of (2) 1-Bed / 1-Bath units and (1) 2-Bed / 1-Bath unit.This property is perfect for an investor who wants to capitalize on the over 20% upside potential in rental income and the historically strong appreciation of this Venice market. It is also perfect for an owner occupy buyer who wants to live in one of the units and collect rent on the other two. Furthermore, this property's zoning also offers an investor the potential for future redevelopment of 4 units/condos, with a maximum envelope of 8,561 SqFt. Lastly, since this property has 3-units, it qualifies for residential financing where the buyer would only need a 25% down payment to get a 30-year fixed rate mortgage with today's historically low interest rates. A qualified investor can also get an interest only loan with a rate as low as 3.25%.

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Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-09-16T22:42:56.953. 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.
www.searchdesertrealestate.com/homes/117249480
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2339 Abbot Kinney Blvd Venice, CA 90291

  • Price: $1,925,000
  • Status: Active
  • Updated: 34 min ago
  • MLS #: 21-732174
4
Beds
0
Baths
0
½ Baths
0.11
Acres
1,792
SQFT
$1,074
$/SQFT
1949
Built
Neighborhood:
Venice
County:
Los Angeles
Area:
Venice
Property Description
We are proud to present this very rare opportunity to acquire a triplex in the heart of Venice, CA, located at 2339 Abbot Kinney Blvd, just 0.75 miles from the Venice Beach, and just steps from local shops, restaurants, and entertainment that the world famous Abbot Kinney Blvd has to offer.This 3-unit, 1,792 SqFt multifamily building sits on a 4,858 SqFt lot, and it has a good unit mix of (2) 1-Bed / 1-Bath units and (1) 2-Bed / 1-Bath unit.This property is perfect for an investor who wants to capitalize on the over 20% upside potential in rental income and the historically strong appreciation of this Venice market. It is also perfect for an owner occupy buyer who wants to live in one of the units and collect rent on the other two. Furthermore, this property's zoning also offers an investor the potential for future redevelopment of 4 units/condos, with a maximum envelope of 8,561 SqFt. Lastly, since this property has 3-units, it qualifies for residential financing where the buyer would only need a 25% down payment to get a 30-year fixed rate mortgage with today's historically low interest rates. A qualified investor can also get an interest only loan with a rate as low as 3.25%.
Exterior Features

Lot Size Area 4859 Other Structures None Parking Garage Converted Garage Total Parking 3

Interior Features

Baths Total 3.00 Cooling Other Equipment WasherDryer Heating Other

Property Features

Assessed Total Value 1750000 Gross Income 93600 Gross Operating Income 90792 Like Units1 2 Like Units2 1 Net Operating Income 59387.00 Number Of Buildings 1 Number Of Units 3 Sale Type Standard Source Living Area Vendor Enhanced Source Lot Size Area Vendor Enhanced Total Annual Expense 31405 Type Of Units Other Year Built Source Vendor Enhanced Zoning Lar3

Listing provided courtesy of Filip Niculete DRE#01905352 of Marcus & Millichap.


Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-09-16T22:42:56.953. 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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The John Jay Group - Bennion Deville Homes
74996 Highway 111
Indian Wells CA, 92210