631 Indiana Ave Venice, CA 90291

631 Indiana Ave Venice, CA 90291

Venice, CA
$1,860,000

Property Description

Welcome to this unique investment opportunity in Venice, one of the hottest neighborhoods in LA. This multifamily property is located WEST of Lincoln and located a couple blocks away from Abbot Kinney. The front house has 2 bedrooms and 2 baths with private outdoor space. The rear building is 2 units with 3 bedrooms and 1 bath each stacked on top of one another. All units have updated kitchens, baths, and flooring. 4+ parking spots on property with access from the front and rear alley. This triplex has a unique setup allowing for a FOURTH UNIT (UDU) to be installed in the existing footprint. That means a potential income of $10,800/month with existing tenants in place!

Property Features

  • Sale Price: $1,860,000
  • Area Size: 2,900 SF
  • Year Built: 1905
  • Closing Date: 10/10/18
  • Units: 3
  • Current GRM: 19.83
  • Current Cap Rate: 3.17%
  • Price Per Unit: $698,333
  • Market GRM: 13.43
  • Market Cap Rate: 5.45%
  • Current NOI: $66,414

Lyon Stahl Investment Real Estate

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