2176 Venice Boulevard, Los Angeles, CA 90006
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Listed Price :
$3,650,000
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Beds :
N/A
-
Baths :
N/A
-
Property Size :
N/A sqft
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Year Built :
1963
Property Description
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!
Interior Features
Bedroom Information |
Bedrooms |
N/A |
Bathroom Information |
Bathrooms |
N/A |
Listing Information
Address |
2176 Venice Boulevard |
City |
Los Angeles |
State |
CA |
Zip |
90006 |
County |
Los Angeles |
Listing Agent |
Armin Soleimani DRE #01846872 |
Co-Listing Agent |
Julio Ruiz DRE #01911261 |
Courtesy Of |
Global Platinum Properties, Inc. |
List Price |
$3,650,000 |
Status |
Active |
Type |
Residential Income |
Structure Size |
N/A |
Lot Size |
10,015 |
Year Built |
1963 |
Listing information courtesy of: Armin Soleimani, Julio Ruiz, Global Platinum Properties, Inc.. *Based on information from the Association of REALTORS/Multiple Listing as of Mar 12th, 2024 at 3:29 PM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. 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.