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Multifamily

2339 Abbot Kinney Blvd

2339 Abbot Kinney Blvd, Venice, CA 90291

Listing Price: $1,925,000

Cap Rate
3.12%
Number of Units
3
GRM
20.57
Occupancy
97.0%
Price/Unit
$641,667
Price/Gross SF
$1,074.22
Gross SF
1,792

Investment Overview

The LAAA Team of Marcus and Millichap is proud to present this very rare opportunity to acquire a triplex in the heart of Venice, CA, located at 2339 Abbot Kinney Blvd, just 0.75 miles from the Venice Beach, and just steps from local shops, restaurants, and entertainment that the world famous Abbot Kinney Blvd has to offer.

This 3-unit, 1,792 SqFt multifamily building sits on a 4,858 SqFt lot, and it has a good unit mix of (2) 1-Bed / 1-Bath units and (1) 2-Bed / 1-Bath unit.

This property is perfect for an investor who wants to capitalize on the over 20% upside potential in rental income and the historically strong appreciation of this Venice market. It is also perfect for an owner occupy buyer who wants to live in one of the units and collect rent on the other two. Furthermore, this property's zoning also offers an investor the potential for future redevelopment of 4 units/condos, with a maximum envelope of 8,561 SqFt.

Lastly, since this property has 3-units, it qualifies for residential financing where the buyer would only need a 25% down payment to get a 30-year fixed rate mortgage with today's historically low interest rates. A qualified investor can also get an interest only loan with a rate as low as 3.25%.

Investment Highlights

  • Built in 1949
  • Famous Abbot Kinney Location
  • Diversified Mix of 1 & 2 Bed Units
  • Potential Redevelopment
  • Zoned LAR3
  • Walk Score of 88

Exclusively Listed By

Financing By

Listing Price: $1,925,000

Cap Rate
3.12%
Number of Units
3
GRM
20.57
Occupancy
97.0%
Price/Unit
$641,667
Price/Gross SF
$1,074.22
Gross SF
1,792

Investment Highlights

  • Built in 1949
  • Famous Abbot Kinney Location
  • Diversified Mix of 1 & 2 Bed Units
  • Potential Redevelopment
  • Zoned LAR3
  • Walk Score of 88

Investment Overview

The LAAA Team of Marcus and Millichap is proud to present this very rare opportunity to acquire a triplex in the heart of Venice, CA, located at 2339 Abbot Kinney Blvd, just 0.75 miles from the Venice Beach, and just steps from local shops, restaurants, and entertainment that the world famous Abbot Kinney Blvd has to offer.

This 3-unit, 1,792 SqFt multifamily building sits on a 4,858 SqFt lot, and it has a good unit mix of (2) 1-Bed / 1-Bath units and (1) 2-Bed / 1-Bath unit.

This property is perfect for an investor who wants to capitalize on the over 20% upside potential in rental income and the historically strong appreciation of this Venice market. It is also perfect for an owner occupy buyer who wants to live in one of the units and collect rent on the other two. Furthermore, this property's zoning also offers an investor the potential for future redevelopment of 4 units/condos, with a maximum envelope of 8,561 SqFt.

Lastly, since this property has 3-units, it qualifies for residential financing where the buyer would only need a 25% down payment to get a 30-year fixed rate mortgage with today's historically low interest rates. A qualified investor can also get an interest only loan with a rate as low as 3.25%.

Exclusively Listed By

Financing By

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