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About the Listing X82195 - C138326
559 Sunset Ave | 14-Unit Coastal Multifamily with ADU Potential in Venice. Built in 1964, this well-located Venice multifamily asset totals approximately 10,651 SF on an 11,278 SF RD1.5-zoned lot and features a strong unit mix of (12) 2-bed / 1-bath units and (2) 1-bed / 1-bath units, with three RTI ADUs currently in plan check. The property will be delivered with five units vacant at close, allowing a new owner to immediately execute a renovation and lease-up strategy while capturing substantial rent growth. Current rents average approximately $2,489/month, while projected market rents are estimated at roughly $3,857/month, offering meaningful upside in one of Los Angeles' most desirable coastal rental markets. Offered at $5,200,000 ($371K/unit | $488.22/SF) with a 5.22% in-place cap rate and 12.44 GRM, the investment presents strong income growth potential as units are upgraded and rents stabilize.
Listing Highlights
Status
Active
Days on Site
127
Property Type
Multi-Family
MLS ®
25619381
Year Built
1964
Total Square Footage
10,651
Lot/Acreage
0.26
County
Los Angeles
Interior Details
- Bedrooms: 26
- Bathrooms: 14 Full
- Appliances:
- Air Cond: Air Conditioning
- Heating: Wall Electric
- Fireplaces:
- Floor: Wood Laminate
- Above Ground Sq Ft:
- Below Ground Sq Ft: n/a
- Basement:
- Other:
- Water:
Exterior Details
- Garage Capacity: N/A
- Parking Spaces: 17
- Lot Dimensions: 81x140
- Zoning: LARD1.5
- Roof:
- Others:
- Sewer:
- Parking Features: Carport
Financial Details
- Tax Amount: N/A
- Taxes w/Assessments: N/A
- Tax/Property ID: N/A
- Tax Year: N/A
Payment Calculator
Monthly Payment
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- in Taxes
Years
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Questions About..
559 Sunset Ave Venice, CA 90291
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