Active
2176 S Venice Blvd
Los Angeles CA, 90006
$3,650,000
$392.01 per sqft
Active
16 Beds
9,311 sqft
Residential
Built in 1963
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!
24-364967
MLSⓇ ID
March 4, 2024
Listed
April 5, 2024
Updated
Map
2176 S Venice Blvd
Los Angeles CA, 90006
Interior Features
Total Stories
2
Bedrooms
16
Appliances
Intercom
Fireplace
No
Cooling
Yes
Cooling Description
Ceiling Fan
Heating
Yes
Heating Description
Wall
Exterior/Building Features
Lot Size
0.23 Acres
Architectual Style
Traditional
Other Property Details
Area Name
Mid Los Angeles
Days on Market
8
Garage
No
Parking
Gated, Uncovered, Covered Parking
Parking Total
0
View
No
County
Los Angeles
Pool
No
Zoning
LAC1
Listed by Armin Soleimani with Global Platinum Properties, Inc.
Listing Contact: 310-666-2246
Based on information from The MLSTM / Combined LA/Westside Multiple Listing Service, Inc. IDX information is provided exclusively for consumers' personal, non-commercial use, it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All information is deemed reliable but not guaranteed and should be independently reviewed and verified. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. All properties are subject to prior sale, change or withdrawal, and may or may not be listed by the office/agent presenting the information. Neither listing broker(s) nor Stormie Leoni shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless.
©2024 Combined L.A./Westside MLS. All rights reserved.
Data last updated 4/5/2024