Mixed-Use

511-523 Ocean Front Walk

511-523 Ocean Front Walk, Venice, CA 90291

Listing Price: Request For Offer

Number of Units
32
Gross SF
20,863

Investment Overview

Marcus & Millichap is pleased to present a very rare opportunity to acquire a large amount of irreplaceable beachfront real estate with unobstructed views of the Pacific Ocean. This unique offering is a portfolio of contiguous properties along the world-renowned Venice Beach Boardwalk, in the heart of Silicon Beach. There are three investment properties, consisting of residential and commercial mixed-use (apartments/retail/take-out food and creative office space) with an immediate opportunity to repurpose one or all the properties. The first property is 511 Ocean Front Walk. It is a three-story wood-frame and stucco building with two ground floor retail stores on the Boardwalk and ten residential units behind and on the second and third floors. This building is approximately 9,456 sq. ft. and sits on approximately 5,227 sq. ft. of land. The ten residential units are all approximately 700 sq. ft. one bedroom/one bath units and seven of them have ocean views. The second property directly south is 517 Ocean Front Walk, commonly known as the Gingerbread Court. This courtyard complex was originally built in 1922 and exudes all the character and charm of the era. The property was completely renovated in 1985 and has had a multitude of uses over the years. It was originally built as an apartment/hotel, then in 1985 it was turned into a retail, takeout food courtyard, with ocean view offices on the second and third floors of the rear building. The last tenant, Snapchat, used the property as a creative office and cafeteria compound. This property is completely vacant for the first time in decades, offering an investor or owner user the ability to re-purpose it into retail, office, a food court, a mixture of uses, a specialty use such as a retreat or special purpose facility, or a boutique hotel. The property consists of 19 to 23 units depending how the new owner intends to configure and use it. It is approximately 9,733 sq. ft. and sits on two parcels of land totaling approximately 10,890 sq. ft. The third property in the portfolio is 523 Ocean Front Walk, commonly known as The Blu House. Situated on the corner of Ocean Front Walk and Sunset Avenue, this vintage beach bungalow was built in 1901 and has been rebuilt and improved several times over the years. This property has the potential for many different uses. Currently, it is used for creative office and has a very stable tenant. The Blu House also has a flexible coastal permit which allows for restaurant or commercial and residential use. The ground floor is beautifully remodeled creative space and a the second floor has two bedrooms one bathroom and a great room with kitchen and living space. The structure is close to 2,800 sq. ft. and sits on approximately 4,530 sq. ft. of land.

Investment Highlights

  • Prime Venice Beach Location
  • High Vacancy Property
  • Immediate Value Add Opportunity

Exclusively Listed By

Listing Price: Request For Offer

Number of Units
32
Gross SF
20,863

Investment Highlights

  • Prime Venice Beach Location
  • High Vacancy Property
  • Immediate Value Add Opportunity

Investment Overview

Marcus & Millichap is pleased to present a very rare opportunity to acquire a large amount of irreplaceable beachfront real estate with unobstructed views of the Pacific Ocean. This unique offering is a portfolio of contiguous properties along the world-renowned Venice Beach Boardwalk, in the heart of Silicon Beach. There are three investment properties, consisting of residential and commercial mixed-use (apartments/retail/take-out food and creative office space) with an immediate opportunity to repurpose one or all the properties. The first property is 511 Ocean Front Walk. It is a three-story wood-frame and stucco building with two ground floor retail stores on the Boardwalk and ten residential units behind and on the second and third floors. This building is approximately 9,456 sq. ft. and sits on approximately 5,227 sq. ft. of land. The ten residential units are all approximately 700 sq. ft. one bedroom/one bath units and seven of them have ocean views. The second property directly south is 517 Ocean Front Walk, commonly known as the Gingerbread Court. This courtyard complex was originally built in 1922 and exudes all the character and charm of the era. The property was completely renovated in 1985 and has had a multitude of uses over the years. It was originally built as an apartment/hotel, then in 1985 it was turned into a retail, takeout food courtyard, with ocean view offices on the second and third floors of the rear building. The last tenant, Snapchat, used the property as a creative office and cafeteria compound. This property is completely vacant for the first time in decades, offering an investor or owner user the ability to re-purpose it into retail, office, a food court, a mixture of uses, a specialty use such as a retreat or special purpose facility, or a boutique hotel. The property consists of 19 to 23 units depending how the new owner intends to configure and use it. It is approximately 9,733 sq. ft. and sits on two parcels of land totaling approximately 10,890 sq. ft. The third property in the portfolio is 523 Ocean Front Walk, commonly known as The Blu House. Situated on the corner of Ocean Front Walk and Sunset Avenue, this vintage beach bungalow was built in 1901 and has been rebuilt and improved several times over the years. This property has the potential for many different uses. Currently, it is used for creative office and has a very stable tenant. The Blu House also has a flexible coastal permit which allows for restaurant or commercial and residential use. The ground floor is beautifully remodeled creative space and a the second floor has two bedrooms one bathroom and a great room with kitchen and living space. The structure is close to 2,800 sq. ft. and sits on approximately 4,530 sq. ft. of land.

Exclusively Listed By

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