631 Indiana Ave Venice, CA 90291

631 Indiana Ave Venice, CA 90291

Venice, CA

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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