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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 California Regional Multiple Listing Service, Inc. as of 2021-09-19T09:26:13.25. 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 deemed reliable but is not guaranteed accurate by the MLS or Brandon Hobbs Group | Compass. Licensed in the State of California, USA.
www.searchwithcompass.com/homes/117250284
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2339 Abbot Kinney Boulevard Venice, CA 90291

  • Price: $1,925,000
  • Status: Active
  • Updated: 47 min ago
  • ID#: 21732174
0
Beds
0
Baths
0
½ Baths
0.11
Acres
1949
Built
Neighborhood:
C11 - Venice
County:
Los Angeles
Area:
C11 - 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

Parking Features Converted Garage Parking Total 3

Interior Features

Appliances DryerWasher

Property Features

Garage YN Yes Gross Income 93600 Listing Agreement Seller Reserved Listing Service Full Service Net Operating Income 59387 Senior Community YN No Special Listing Conditions Standard Vacancy Allowance Rate 0 Zoning Lar3

Listing provided courtesy of Filip Niculete of Marcus & Millichap and Sally Forster Jones of


Based on information from California Regional Multiple Listing Service, Inc. as of 2021-09-19T09:26:13.25. 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 deemed reliable but is not guaranteed accurate by the MLS or Brandon Hobbs Group | Compass. Licensed in the State of California, USA.
 
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Brandon Hobbs Group | Compass
341 Bayside Drive
Newport Beach CA, 92660