In total, the four units provide 5,398 square feet of living space
A multi-family property located one block from Venice Beach has hit the market for $5.25 million. This property, on a rare double lot, consists of a renovated 3-unit apartment building and a modernized 2-story townhome that was originally built in 1925.
In total, the four units provide 5,398 square feet of living space. The building features a mix of spacious units, with a 3-bedroom, 2-bathroom apartment rented for $10,450 a month, another 3-bedroom, 2-bath unit for $7,400, and smaller 1-bedroom, 1-bath and 3-bedroom, 3-bath units also in the mix.
The property is being marketed as an investment opportunity with a cap rate of 5.26%. Along with its steady cash flow, the property has room for future appreciation, according to its listing agents. It also includes eight parking spaces—two garages and exterior parking.
Situated in a prime location in Venice, the property sits on a 5,280-square-foot lot. While the building has seen recent updates, the property retains some features dating back to its 1925 origin.
The property has been listed by MGB Realty Group’s Eli Mashiach and Shelly Mashiach. For more information, go to https://www.compass.com/listing/22-28th-place-venice-ca-90291/1830572414859617857/.
