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559 Sunset AVE Venice, CA 90291
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Key Details
Sold Price $5,825,000
Property Type Residential Income
Listing Status Sold
Purchase Type For Sale
Square Footage 10,651 sqft
Price per Sqft $546
MLS Listing ID 22215457
Bedrooms 26
Year Built 1964
Lot Size 0.259 Acres
Property Description
559 Sunset Avenue is a 14-unit apartment located in the high barrier to entry neighborhood of Venice. The property is situated on a double lot (11,270 SF) and consists of two (2) one-bedroom units and twelve (12) two-bedroom units. In addition, the property is walking distance to the dining and entertainment options on Rose Avenue & 6th Avenue. The opportunity presents a new investor the ability to renovate units immediately and capture close to 63% upside in rents. Tenants are within 1 1/2 blocks to Whole Foods and a short walk to Abbot Kinney. Lastly, 559 Sunset is offered at a sub-16 GRM and provides ample parking for tenants (17 spaces).
Location
State CA
County Los Angeles
Area C11 - Venice
Zoning LARD1.5
Interior
Heating Wall Furnace
Exterior
Parking Features Assigned
Building
Story 2
New Construction No
Others
Special Listing Condition Standard
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Bought with Scott Chaplan Del Rey Urban Brokerage