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Multifamily

2727-2741 Abbot Kinney

2727 Abbot Kinney Blvd, Los Angeles, CA 90291

Listing Price: $8,750,000

Cap Rate
4.22%
Number of Units
20
Price/Unit
$437,500
Price/Gross SF
$736.04
Gross SF
11,888

Investment Overview

Marcus & Millichap is pleased to present 2727-2741 Abbot Kinney Boulevard, located in the beach community of Venice, California, in the heart of Silicon Beach. Abbot Kinney Boulevard has tremendous cache and was named “The Coolest Street in America”, by GQ Magazine and has developed into the de facto “capital” of this flourishing neighborhood. Situated at the southern end of Venice, bordering Marina Del Rey, 2727-2741 Abbot Kinney Boulevard is less than one block north to the revitalized Washington Boulevard with many new developments, restaurants and shops. Likewise, just a few blocks north of the subject property is one of the hottest retail and dining corridors in the country. With a Walk Score of 90 and a Bike Score of 94 out of 100, this location is a Walker’s Paradise, offering tenants access to all that the Venice Beach experience has to offer. Built in 1958, this garden-style 20-unit apartment complex consists of two structures, totaling 11,888 square feet of improvements and sits on a 13,555 square foot lot, zoned LAC2. There is a very attractive unit mix of one (1) studio/one-bath, one (1) Junior one-bedroom/one-bath and eighteen (18) two-bedroom/one-bath units. There is currently nine (9) vacant units. The property has been tastefully upgraded with 13/20 units completely gutted and remodeled, copper pipes, new landscaping, exterior lighting, façade and concrete driveway. The seller has also completed the required seismic retrofitting. There are 6 parking spaces, secured entry and on-site laundry. This offering will appeal to any investor looking for a turn-key asset in an A+ beach community.

Investment Highlights

  • Turn-key full renovated property
  • Excellent Unit Mix
  • Proximity to Major Employers
  • Large Lot

Exclusively Listed By

Listing Price: $8,750,000

Cap Rate
4.22%
Number of Units
20
Price/Unit
$437,500
Price/Gross SF
$736.04
Gross SF
11,888

Investment Highlights

  • Turn-key full renovated property
  • Excellent Unit Mix
  • Proximity to Major Employers
  • Large Lot

Investment Overview

Marcus & Millichap is pleased to present 2727-2741 Abbot Kinney Boulevard, located in the beach community of Venice, California, in the heart of Silicon Beach. Abbot Kinney Boulevard has tremendous cache and was named “The Coolest Street in America”, by GQ Magazine and has developed into the de facto “capital” of this flourishing neighborhood. Situated at the southern end of Venice, bordering Marina Del Rey, 2727-2741 Abbot Kinney Boulevard is less than one block north to the revitalized Washington Boulevard with many new developments, restaurants and shops. Likewise, just a few blocks north of the subject property is one of the hottest retail and dining corridors in the country. With a Walk Score of 90 and a Bike Score of 94 out of 100, this location is a Walker’s Paradise, offering tenants access to all that the Venice Beach experience has to offer. Built in 1958, this garden-style 20-unit apartment complex consists of two structures, totaling 11,888 square feet of improvements and sits on a 13,555 square foot lot, zoned LAC2. There is a very attractive unit mix of one (1) studio/one-bath, one (1) Junior one-bedroom/one-bath and eighteen (18) two-bedroom/one-bath units. There is currently nine (9) vacant units. The property has been tastefully upgraded with 13/20 units completely gutted and remodeled, copper pipes, new landscaping, exterior lighting, façade and concrete driveway. The seller has also completed the required seismic retrofitting. There are 6 parking spaces, secured entry and on-site laundry. This offering will appeal to any investor looking for a turn-key asset in an A+ beach community.

Exclusively Listed By

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