Property Description

Lambert Investments, Inc. proudly offers for sale a 15 unit apartment building in prime Venice Beach California. Charming building with opportunity to add value. The property consists of six (6) one-bedrooms and nine (9) single units. Property is master metered for all utilities. Laundry equipment is owned. Situated in a very high demand area with strong rental market. The building is approximately 9,936 square feet sitting on a lot of approximately 5,867 square feet and was built in 1922. Located just 1 block to the famous Abbot Kinney Blvd and 4 blocks to the beach. Walking distance to all the vibrant trendy shops, dining and nightlife of happening Venice Beach. Close to the neighboring communities of Marina Del Rey, Playa Del Rey, Santa Monica and West Los Angeles. Located in the vibrant world renowned Silicon Beach.

UNIT MIX
6 one bedroom - 1 bath
9 single - 1 bath
Purchase Price: $5,995,000
Price Per Sq Ft: $603
Price Per Unit: $399,667
Year Built: 1922
Lot Size: 5,867
Building Size: 9,936
Zoning: LARD1.5
CAP Rate: 4.20%
GRM: 15.51
Parking: 3 spaces

Click on image below to download the Offering Memorandum PDF.