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Multifamily

614 6th Avenue Venice

614 6th Ave, Los Angeles, CA 90291

Listing Price: $2,995,000

Cap Rate
5.38%
Number of Units
5
GRM
12.26
Price/Unit
$599,000
Price/Gross SF
$534.06
Gross SF
5,608

Investment Overview

The SR Group of Marcus & Millichap, as the exclusive listing agent, is pleased to offer for sale a 5-unit apartment community located at 614 6th Avenue in Venice, California.

The subject property is located south of Rose Avenue and North of Venice Boulevard, within minutes of vibrant restaurants, cafes, bars, yoga studios, grocery stores, gyms, and entertainment options.

Situated on a 5,667 square foot parcel, the property is made up of one two-bedroom unit and four three-bedroom units. Interiors feature in-unit washer/dryers in all units except Unit 5, and four of the units have gated on-site parking. There is potential to add a fifth parking space by modifying the gate post - buyer to verify.

614 6th Avenue offers investors the opportunity to acquire a stabilized property in a prime Venice location. The neighborhood’s proximity to some of Los Angeles’s best bars and restaurants will support continued rent growth for a new investor who is looking for stable returns and long-term growth potential.

Investment Highlights

  • Operating at a Current 5.38% Cap Rate with Additional Upside, This Would be the Highest Cap Rate for a Multi-Family Transaction in Venice in 2024
  • Long Term Ownership, Family Owned and Operated and Has Not Been on Market in Over 20 Years
  • The Government Required Seismic Retrofit Work has Already Been Completed by Current Ownership Which Saves a New Investor Substantially in Capital and Time
  • Located in a Sought-After Pocket of Venice within a Short Drive to Rose Avenue, Abbott Kinney, and Venice Boulevard. Residents Enjoy Convenient Access to Vibrant Restaurants, Bars, Gyms, Grocery Stores and Entertainment
  • Select Units have Stainless Steel Kitchen Appliances, In Unit Washers/Dryers, New Paint, Upgraded Kitchens & More
  • 100% Two & Three-Bedroom Units, with Large Common Area Outdoor Space

Exclusively Listed By

Financing By

Multifamily

614 6th Avenue Venice

Listing Price: $2,995,000

Cap Rate
5.38%
Number of Units
5
GRM
12.26
Price/Unit
$599,000
Price/Gross SF
$534.06
Gross SF
5,608

Investment Highlights

  • Operating at a Current 5.38% Cap Rate with Additional Upside, This Would be the Highest Cap Rate for a Multi-Family Transaction in Venice in 2024
  • Long Term Ownership, Family Owned and Operated and Has Not Been on Market in Over 20 Years
  • The Government Required Seismic Retrofit Work has Already Been Completed by Current Ownership Which Saves a New Investor Substantially in Capital and Time
  • Located in a Sought-After Pocket of Venice within a Short Drive to Rose Avenue, Abbott Kinney, and Venice Boulevard. Residents Enjoy Convenient Access to Vibrant Restaurants, Bars, Gyms, Grocery Stores and Entertainment
  • Select Units have Stainless Steel Kitchen Appliances, In Unit Washers/Dryers, New Paint, Upgraded Kitchens & More
  • 100% Two & Three-Bedroom Units, with Large Common Area Outdoor Space

Investment Overview

The SR Group of Marcus & Millichap, as the exclusive listing agent, is pleased to offer for sale a 5-unit apartment community located at 614 6th Avenue in Venice, California. The subject property is located south of Rose Avenue and North of Venice Boulevard, within minutes of vibrant restaurants, cafes, bars, yoga studios, grocery stores, gyms, and entertainment options. Situated on a 5,667 square foot parcel, the property is made up of one two-bedroom unit and four three-bedroom units. Interiors feature in-unit washer/dryers in all units except Unit 5, and four of the units have gated on-site parking. There is potential to add a fifth parking space by modifying the gate post - buyer to verify. 614 6th Avenue offers investors the opportunity to acquire a stabilized property in a prime Venice location. The neighborhood’s proximity to some of Los Angeles’s best bars and restaurants will support continued rent growth for a new investor who is looking for stable returns and long-term growth potential.

Exclusively Listed By

Financing By

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