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$5,200,000
Est. payment /mo
26 Beds
14 Baths
10,651 SqFt
UPDATED:
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 10,651 sqft
Price per Sqft $488
MLS Listing ID 25619381
Bedrooms 26
HOA Y/N No
Year Built 1964
Lot Size 0.259 Acres
Property Description
559 Sunset Ave | 14-Unit Coastal Multifamily with ADU Potential in Venice. Built in 1964, this well-located Venice multifamily asset totals approximately 10,651 SF on an 11,278 SF RD1.5-zoned lot and features a strong unit mix of (12) 2-bed / 1-bath units and (2) 1-bed / 1-bath units, with three RTI ADUs currently in plan check. The property will be delivered with five units vacant at close, allowing a new owner to immediately execute a renovation and lease-up strategy while capturing substantial rent growth. Current rents average approximately $2,489/month, while projected market rents are estimated at roughly $3,857/month, offering meaningful upside in one of Los Angeles' most desirable coastal rental markets. Offered at $5,200,000 ($371K/unit | $488.22/SF) with a 5.22% in-place cap rate and 12.44 GRM, the investment presents strong income growth potential as units are upgraded and rents stabilize.
Location
State CA
County Los Angeles
Area C11 - Venice
Zoning LARD1.5
Interior
Fireplace No
Appliance Dryer, Washer
Exterior
Parking Features Carport
Total Parking Spaces 17
Building
Entry Level Multi/Split
Level or Stories Multi/Split
New Construction No
Others
Senior Community No
Tax ID 4240010035
Special Listing Condition Standard
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Listed by Taylor Avakian Lyon Stahl Investment Real Estate, Inc. #02060040
NEARBY SCHOOL & BUSINESS
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Tracy Thrower Conyers
Broker Associate, JD | License ID: 01712960
Broker Associate, JD License ID: 01712960