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2176 Venice Boulevard
Los Angeles, CA 90006
Sold
2176 Venice Boulevard
Los Angeles, CA 90006
Sold
17-unit value-add opportunity priced at only 214k/door with a remarkable Current Cap Rate of 6.25% and 11.4 GRM and an incredible upside potential to 10.48% Cap Rate and 7.61 GRM on proforma. The property consists of 14 units plus 3 brand-new attached ADUs currently under construction. Additionally, 5 of the 14 units have been already fully remodeled with permits and boast new modern cabinets, flooring, lighting, new bathrooms, and significant exterior improvements. Each unit is individually metered for gas and electricity while tenants cover garbage fees - saving you money on utilities from day one. The large 10,015 SF lot comes complete with gated parking spaces that can accommodate up to multiple cars and requires no soft-story retrofitting. Plus, there are Nearly RTI plans to add 2 additional detached ADUs (2bed/2bath & 3bed/3bath) over the carport to improve the numbers to only 192k/unit, 324/SF, 8.2% Cap Rate, and 9 GRM on current with upside to 12% Cap Rate and 6.6 GRM on proforma after building the detached ADUs. And let's not forget about its unbeatable location near popular neighborhood attractions like Alibi Coffee Co., Starbucks, Koreatown, DTLA, Culver City, and public transportation options all while being in close proximity to major freeways ensuring smooth travel times within Los Angeles city limits. Don't wait another moment to grab this rare opportunity before it slips away!
PROPERTY INFORMATION
| MLS # | 24364967 | Lot Size | 10,015 Sq. Ft. |
| HOA Fees | $0/Monthly | Property Type | N/A |
| Price | $ 3,650,000
Price Per SqFt: $ 392 |
DOM | 426 Days |
| Address | 2176 Venice Boulevard | Type | Residential Income |
| City | Los Angeles | Sq.Ft. | 9,311 Sq. Ft. |
| Postal Code | 90006 | Garage | N/A |
| County | Los Angeles | Year Built | 1963 |
| Bed / Bath | 16 / 0 | Parking | N/A |
| Built In | 1963 | Status | Closed |
| Sold Date | 2024-06-11 |
INTERIOR FEATURES
| Has Appliances | Yes |
| Has Heating | Yes |
| Heating Information | Wall Furnace |
EXTERIOR FEATURES
WALKSCORE
MAP
MORTGAGE CALCULATOR
- Principal & Interest:
- Property Tax: $3,893
- Home Insurance:$119
- HOA Fees:$0
- Mortgage Insurance:
PRICE HISTORY
| Date | Event | Price |
| 03/04/2024 | Listed | $3,650,000 |
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Listing provided courtesy of Julio Ruiz, Global Platinum Properties, Inc.. Based on information from California Regional Multiple Listing Service, Inc. as of #Date#. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.
