19 Wavecrest Ave, Venice, CA 90291

19 Wavecrest Ave, Venice, CA 90291

Venice, CA

Property Description

19 Wavecrest Ave Apartments is a 10-unit apartment community located 130+ feet from the Venice Boardwalk and beach. Residents enjoy the benefits of living in the heart of venice as the property is in close proximity to Abbot Kinney, Santa Monica Pier, and much more. 19 Wavecrest Ave offers (7) one-bedroom apartments each measuring approximately 650 square feet, (2) two bedroom/one bath apartments each measuring approximately 815 square feet, and (1) two bedroom-two bath Penthouse unit measuring approximately 1,100 square feet. The penthouse unit features a jacuzzi, rooftop deck, and has views of the Pacific Ocean and entire city of Los Angeles. Potential to have (5) units delivered vacant at the close of escrow, with the penthouse unit having potential to be leased back at market rate. Units feature ocean views, Spanish tiling, and private patios. There is laundry on site.

Property Features

  • Sale Price: $5,500,000
  • Area Size: 7,280 Sq. Ft.
  • Land Area: 2,698 Sq. Ft.
  • Year Built: 1912
  • Listing Date: 1/30/2024
  • Units: 10
  • Current GRM: 12.49
  • Current Cap Rate: 5.22%
  • Price Per Unit: $550,000
  • Market GRM: 11.49
  • Market Cap Rate: 5.95%
  • Current NOI: $287,132

Lyon Stahl Investment Real Estate

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