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515 Santa Clara Avenue

Venice, CA 90291

– beds
– baths
– sqft
5,210 sqft lot
1923 build
– on site

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This is the opportunity you've been waiting for. Location, location, location - just a short walk to the famous Abbott Kinney and some of the finest restaurants and coffee shops. This is a beautifully landscaped income property consisting of 6 spacious sun filled bungalow units with No LA Rent Control. The current cap rate is 5.2% and with rent increases easily over 6.1%. Each units has individual circuit breaker boxes in the apartment, spacious kitchens and bathrooms, flooring and water heaters. All 6 units have private decks with the 2 front units having incredibly huge decks within a private yard. The 2 middle units have newer mini split hvac units. The property is fully rented and the owners unit can be vacated. There is a garage consisting of 2 units and an attached common laundry room. In the back of the property there is also a barbeque and dining area. There is financing that can be assumed, please inquire as to the specifics. The location of this property makes it easy to walk for groceries, coffee, dining and just close to the beach.

Listed By CRMLS_CA / Jonathan Minerick / Homecoin.com / 888-400-2513

Last checked: Checking… • Last updated Jan 25, 2024 •

MLS# TR23158495 —

The Building

Year Built:

1923
Year Built Source:

Public Records
New Construction:

No
Construction Materials:

Drywall Walls, Stucco
Architectural Style:

Bungalow
Roof:

Flat, Reflective
Entry Level:

1
Common Walls:

No Common Walls
Number With Patio:

6
Building Area Total:

2268.00
Building Area Units:

Square Feet
# of Buildings:

6
Total Number Of Units:

6
Stories Total:

1
# of Separate Gas Meters:

6
# of Separate Water Meters:

1
# of Separate Electric Meters:

6

Interior

Levels:

One
Entry Location:

1
Window Features:

Screens
Flooring:

Laminate, Tile, Wood
Laundry:

Common Area, Individual Room
Laundry:

1

Financial & Terms

Disclosures:

Coastal Commission Restrictions, Coastal Zone, Principal Is RE Licensed

Location

Directions:

East of Abbot Kinney, West of Lincoln
Latitude:

33.99214100
Longitude:

-118.46761100

The Property

Property Type:

Residential Income
Subtype:

Apartment
Property Condition:

Updated/Remodeled
Zoning:

LARD1.5
Lot Features:

0-1 Unit/Acre
Lot Size Area:

5210.0000
Lot Size Dimensions:

40x130
Lot Size Acres:

0.1196
Lot Size SqFt:

5210.00
Lot Size Source:

Assessor
Fencing:

Excellent Condition, Privacy, Wood
Fence:

Yes
Security Features:

Carbon Monoxide Detector(s), Gated Community, Security Lights, Smoke Detector(s)
Road Frontage:

City Street
Additional Parcels:

No
Land Lease:

No

Listing Agent

Contact info:

Taxes

Tax Block:

Q
Tax Census Tract:

2733.00
Tax Tract:

2
Tax Lot:

24

The Listing

Buyer's Brokerage Compensation:

2.000%
Special Listing Conditions:

Standard
Buyer's Brokerage Compensation:

$2
Parcel Number:

4239026034

Heating & Cooling

Heating:

1
Heating:

Natural Gas, Wall Furnace
Cooling:

Yes
Cooling:

Wall/Window Unit(s)

Utilities

Utilities:

Cable Connected, Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
Sewer:

Public Sewer
Electric:

Electricity - On Property
Water Source:

Public

Appliances

Appliances:

Gas Oven, Gas Water Heater, Refrigerator
Included:

Yes

The Community

Senior Community:

No
Features:

Sidewalks
Pool:

None
Private Pool:

No
Assessments:

No
Assessments:

None

Parking

Parking:

Yes
Parking:

Garage Faces Rear
Parking Spaces:

2.00
Garage Spaces:

2.00

Extra Units

Number With Refrigerator:

6

Explore the Area

My Commute

From

Walk Score®

Provided by WalkScore® Inc.

Soundscore™

Provided by HowLoud

Sale history

Date	Event	Source	Price	% Change
1/24/24 Jan 24, 2024	Sold	CRMLS_CA	$2,195,000	-2.4%
11/27/23 Nov 27, 2023	Price Changed	CRMLS_CA	$2,250,000	-5.7%
11/8/23 Nov 8, 2023	Price Changed	CRMLS_CA	$2,385,000	3.9%

Multifamily Sold on 1/24/2024

$2,195,000

Listing provided by broker:

Jonathan Minerick

Homecoin.com

888-400-2513

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Listing Courtesy of: CRMLS_CA and Homecoin.com. Based on information from California Regional Multiple Listing Service, Inc. as of 09:50 on May 05.

This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.

The offer of compensation listed above is made to, and can only be accepted by, participants of the multiple listing service in which this listing is filed.

515 Santa Clara Avenue

Venice, CA 90291