Trophy Silicon Beach 6 unit building 100 yards from the famed Venice Beach. Consists of 5 x 1 Bd 1ba units and 1 studio. 3 units delivered vacant with one remodeled premium upstairs unit. Walking distance to Venice canals and vibrant Abbot Kinney shops and famous Venice surfing beach. 5 parking spaces and secured building with private courtyard area. Current gross income of $126,000 yearly with a potential of $172,000 yearly at market rents. Property is under LA rent control. Cap rate 3.4 GRM 22 at current rents. Cap 4.23 and GRM 16.3 at Market rents. Trust sale. Drive by only and inside w/accepted offer.
Listing courtesy of James Allan from Coldwell Banker Residential Br
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