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209 4th Ave
For Sale $3,500,000 ($510.95 per Sq Ft)
$3,500,000 ($510.95 per Sq Ft)
- 6 Units
- 6,850 Sq Ft
- 5,432 Sq Ft
- Unknown Cap Rate
Description
Rare opportunity to buy a well built and maintained building. Most units have ocean and/or neighborhood views. One upper view unit held open for possible owner occupancy. 6 bright, spacious 2BR/1.75 BA units- 1 with loft. 2-car gated parking for each unit. Location forms a Triangular Tapestry of unparalleled amenities supporting a coveted pedestrian lifestyle; Beaches to the west; Venice's Rose Avenue to the South and Main Street to the North, featuring an urban melange of vibrant dining options, artisanal boutiques and specialty shops. Building subject to Los Angeles (not Santa Monica) rent control. Anniversary date of last rent increase will be 3/1/2025. Occupied units shown with acceptable offer. Drone video available in video links. Photos offer a good visual representation of the views from different units. Seller states earthquake retrofit completed well in excess of current minimum standards.
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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 | $3,500,000 |
| Property Type | Multi-Family |
| Usable Sqft | 6,850 |
| Number of Stories | 2 stories |
| Parking Spots | 0 spots |
| Year Built | 1973 |
| Last Sold | Unknown |
| Sold Price | Unknown |
| APN # | 4286001042 |
| MLS # | 24444923 |
| Property ID | 320912757 |
| Lot Sqft | 5,432 |
| Zoning | LARD1.5 |
| Total Units | 6 |
| Days on Market | 55 |
| Original List Price | $3,500,000 |
| Date Updated | November 23, 2024 |
| Date Created | October 03, 2024 |
| Unit # | Beds | Baths | Current Rent | Proforma Rent |
| Unit #1 | 2 | 1.75 | $3,868 | $3,995 |
| Unit #2 | 2 | 1.75 | $2,303 | $3,600 |
| Unit #3 | 2 | 1.75 | $3,951 | $3,995 |
| Unit #4 | 2 | 1.75 | $4,152 | $4,200 |
| Unit #5 | 2 | 1.75 | $3,750 | $3,750 |
| Unit #6 | 2 | 1.75 | $2,792 | $4,500 |
| Gross Income (Yr) | $ 249,787 |
| Operating Expenses | $ 99,550 |
| Net Income (Yr) | $ 150,237 |
| Cap Rate | 4.29% |
Listing Provided By
Wes Wellman an agent of . Lic #00467451
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