712 6th Ave, Venice, CA 90291

712 6th Ave, Venice, CA 90291

Venice, CA
$2,250,000

Property Description

This Fantastic 3-unit building with tremendous upside potential ready for an owner user. .or Investor In the heart of Venice, with a few blocks from Abbot Kinney, The location is Outstanding with beautiful Southern California weather, a bike ride away to the famous Venice beach. The front 2 story unit features 3 bedrooms, 2 baths with the 1st floor kitchen & bathroom with tiled flooring, laminate flooring in living room, recessed lights throughout, and a second story featuring a master suite. The 2nd unit features two bedrooms, one bath, and recessed lights, the 3rd Unit features 2 bedrooms, and 1 bath. This is a great opportunity for owner/user, value add, or investor/developer with vision to add ADU’s and take advantage of breathtaking tree lined streets. There is also a carport area and a backyard that fits 6 cars tandem or more. Large 5,658 sft lot zoned LARD1.5, completely fenced and private, with endless possibilities to keep as-is or develop. Well-maintained building Some basic Upgrades completed, such As a 5yr old roof, copper plumbing and Electrical panels. This amazing property is near popular Venice eateries. Note: Property was Originally a 4 Unit Building and was converted into a 3 unit when it was brought from the Valley back in the 1980’s, city ordinance only allowed it as a 3 unit. . The property can easily be Re-converted into 4 units (2) Two bedrooms 1 bath and (2) One bedroom 1 bath each and add 2 more ADU’s in the rear. Lots of Potential!! Call me for any questions.

Property Features

  • Sale Price: $2,250,000
  • Area Size: 3,192 Sq. Ft.
  • Land Area: 5,658 Sq. Ft.
  • Year Built: 1953
  • Listing Date: 9/8/2023
  • Units: 3
  • Current GRM: 16.74
  • Current Cap Rate: 4.18%
  • Price Per Unit: $750,000
  • Market GRM: 10.14
  • Market Cap Rate: 7.96%
  • Current NOI: $94,130

Lyon Stahl Investment Real Estate

Keep In Touch