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315 Vernon Ave
For Sale $5,400,000 ($1,118.94 per Sq Ft)
$5,400,000 ($1,118.94 per Sq Ft)
- 6 Units
- 4,826 Sq Ft
- 12,008 Sq Ft
- Unknown Cap Rate
Description
*** 3rd Price Reduction - $750,000 from original listed price *** The Villas of Venice are an eclectic collection of 6 masterfully Craftsman bungalows built in 1906 & 1922 and completely restored to their original charm. Set on an idyllic resort-like lot, creating a private hideaway yet located steps from Venice Beach and Abbot Kinney Blvd. Each bungalow was masterfully restored to showcase classic Craftsman bungalow architecture while adding a fun eclectic design twist. Classic Hollywood Golden era accents including deep green colored cabinets, brass hardware, and a Hollywood Regency style chandelier add a true retro glamour factor to one of the restored kitchens. The extensive use of subway tiles in kitchens and baths creates a retro vibe for today. Breakfast nooks and window seats make these the perfect casual beach bungalows. Each bright and spacious unit features hardwood floors, exposed beams, and ornate detailing in the kitchen and bathroom. Unit interiors include stainless steel appliances, central A/C, and heat, and in-unit washer and dryer. Shared outdoor living space creates community here. The Villas of Venice is part of the Golden Era Collection, four impeccably restored multifamily complexes in prime Los Angeles locations.
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Amenities
Garage
Pool
Garden
Security System
Internet
Telephone
Heating
Fireplace
Balcony & Patio
TV / Cable
Laundry
Hardwood Floors
Spa
Air Conditioning
Solar Power
Floor Plan
Great Views
Natural Light
Quiet
Water View
Elevator
Guest Unit(s)
Furnished
220 Volt
Property Details
| List Price | $5,400,000 |
| Property Type | Multi-Family |
| Usable Sqft | 4,826 |
| Number of Stories | 1 stories |
| Parking Spots | 0 spots |
| Year Built | 1922 |
| Last Sold | Unknown |
| Sold Price | Unknown |
| APN # | 4286007006 |
| MLS # | 24357403 |
| Property ID | 293129637 |
| Lot Sqft | 12,008 |
| Zoning | LARD1.5 |
| Total Units | 6 |
| Days on Market | 310 |
| Original List Price | $5,850,000 |
| Date Updated | September 26, 2024 |
| Date Created | February 12, 2024 |
| Unit # | Beds | Baths | Current Rent | Proforma Rent |
| Unit #1 | 3 | 2.00 | $5,616 | $5,900 |
| Unit #2 | 2 | 2.00 | $5,720 | $5,775 |
| Unit #3 | 1 | 1.50 | $4,467 | $4,500 |
| Unit #4 | 1 | 1.00 | $3,795 | $3,995 |
| Unit #5 | 2 | 1.00 | $5,350 | $10,800 |
| Gross Income (Yr) | $ 354,484 |
| Operating Expenses | $ 106,300 |
| Net Income (Yr) | $ 248,148 |
| Cap Rate | 4.73% |
Listing Provided By
Kenny Stevens an agent of Compass. Lic #01090251
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