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2700 Abbot Kinney Blvd
For Sale $5,650,000 ($505.37 per Sq Ft)
$5,650,000 ($505.37 per Sq Ft)
- 15 Units
- 11,180 Sq Ft
- 14,073 Sq Ft
- Unknown Cap Rate
Description
Huge price reduction and NOW PRICED TO SELL! We are pleased to offer for sale an incredible multifamily asset at 2700 Abbot Kinney Blvd. in the heart of LA's famed beach city of Venice. Originally built in 1959, the building boasts an incredibly rare unit mix consisting of 1 and 2 bedroom units. Each of these units are spacious and have a terrific floor plan. The property is situated on a large corner lot; thus, all units offer an abundance of natural light. There is HUGE rental upside, as current rents hover around $2.97/SF. Additionally, there is parking for all units as well as an on-site laundry facility. All units look out to a serene and beautifully landscaped courtyard, and residents enjoy being walking distance to the Venice Boardwalk and the beach. This is a fantastic trophy asset in an undeniably attractive location that will surely pay long-term dividends to a savvy investor. A walker's paradise, this rare offering presents an astute investor with the unique opportunity to capitalize on higher market rents and to acquire a premier turnkey asset in one of the best rental locations in all of Los Angeles.
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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 | $5,650,000 |
| Property Type | Multi-Family |
| Usable Sqft | 11,180 |
| Number of Stories | 2 stories |
| Parking Spots | 0 spots |
| Year Built | 1959 |
| Last Sold | Unknown |
| Sold Price | Unknown |
| APN # | 4237021005 |
| MLS # | 24424311 |
| Property ID | 320738496 |
| Lot Sqft | 14,073 |
| Zoning | LAR3 |
| Total Units | 15 |
| Days on Market | 214 |
| Original List Price | $7,850,000 |
| Date Updated | February 04, 2025 |
| Date Created | August 06, 2024 |
| Unit # | Beds | Baths | Current Rent | Proforma Rent |
| Unit #1 | 1 | 1.00 | $2,020 | $16,170 |
| Unit #2 | 2 | 1.00 | $2,213 | $30,555 |
| Gross Income (Yr) | $ 387,582 |
| Operating Expenses | $ 133,011 |
| Net Income (Yr) | $ 243,036 |
Listing Provided By
Jonathan Taksa an agent of . Lic #01366169
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