11473 Venice Blvd.
Closed 7/9/24
Closed 7/9/24
Description
by side courtyard 7 unit buildings at $339/Sq. Ft. You will not find a better price per door or a better unit mix in the
most coveted market in Los Angeles. The property has an
astounding 56% rental upside. Whether you are long term or a
value-add investor, The Venice Properties are the perfect assets to
help achieve your investment goals. The Venice Properties feature 14 units and a large foot...12.48 GRM and 5.06% cap in Prime Mar Vista! 11465-11473 Venice Blvd is an amazing opportunity to own two side
by side courtyard 7 unit buildings at $339/Sq. Ft. You will not find a better price per door or a better unit mix in the
most coveted market in Los Angeles. The property has an
astounding 56% rental upside. Whether you are long term or a
value-add investor, The Venice Properties are the perfect assets to
help achieve your investment goals. The Venice Properties feature 14 units and a large foot print of
12,090 rentable square feet. Each building is identical to the other
with a combined unit mix of (10) 2-Bed/1-Bath,and (4) 1-Bed/1-
Bath Units. Just steps from Downtown Culver City, this investment
is in one of the most sought-after neighborhoods on the Westside. Priced at $4,100,000 the property offer a very low $292k per unit
and $339 Sq Ft. The property is currently operating at 12.48 GRM
with 56% in Rental Upside! This well maintained asset comes with a brand new roof across
both structures and the soft story retrofit completed, minimizing
any CapEx for the new buyer. The Venice Properties are sandwiched between new tech
companies such as Google, Meta, Snapchat, Hulu, Sony, HBO and
Apple GRM and Cap Rate income assume Manager's Unit to be vacant
and rented at Market Rate
- Listed by Aaron Jacobson • DRE #02100737 • Brokerage DRE #01972083 • Lyon Stahl Investment Real Estate, Inc. • 310-729-1559
- Listed by Cameron Samimi • DRE #02035763 • Brokerage DRE #01972083 • Lyon Stahl Investment Real Estate, Inc.
Property Details for 11473 Venice Blvd.
Property Details for 11473 Venice Blvd.
| Status | Closed |
|---|---|
| MLS # | SB24027071 |
| Days on Market | 103 |
| Taxes | - |
| HOA Fees | - |
| Condo/Co-op Fees | - |
| Compass Type | Multi Family |
| MLS Type | Residential Income |
| Year Built | 1956 |
| County | Los Angeles County |
Building Information for 11473 Venice Blvd.
Property Information for 11473 Venice Blvd.
- Gross Income: $328,635
- Gross Scheduled Income: $328,635
- Vacancy Allowance Rate: 3
- Gross Operating Income: $318,776
- Net Operating Income: $207,443
- Gross Multiplier: 12.71
- Cap Rate: 4.89
- Financing: Cash
- Operating Expense: $111,333
- Operating Expense Percent: 34.00%
- New Taxes Expense: $49,610
- Gardener Expense: $1,440
- Fuel Expense: $0
- Electric Expense: $13,200
- Insurance Expense: $9,068
- Maintenance Expense: $9,100
- Professional Management Expense: $13,145
- Trash Expense: $6,360
- Water Sewer Expense: $10,600
- Total Expenses: $111,333
- Tax Tract Number: 19428
- Tax Census Tract: 2719.01
- CFD/Mello-Roos Fee: $1,197
- Tax Lot: 23
- Community Features: Biking, Dog Park, Golf, Park, Sidewalks, Urban
- Laundry: Yes
- Laundry Features: Common Area, Community
- Entry Location: Front
- Pool Features: None
- Pool Description: None
- Pool: N/K
- Lot Features: 0-1 Unit/Acre
- Number Of Units: 14
- Land Lease: No
- Land Lease Type: Fee
- Water: Public
- Sewer: Public Sewer
- Water Source: Public
- Garage Spaces: 9
- Parking Garage Spaces: 9
- Carport Spaces: 0
- Unit Type Units Total: 4
- Unit Type Beds Total: 1
- Unit Type Baths Total: 1
- Unit Type Actual Rent: $1,398
- Unit Type Total Rent: $5,592
- Unit Type Pro Forma: 2395
- Unit Type Type: 1
- Unit Type Units Total: 10
- Unit Type Beds Total: 2
- Unit Type Baths Total: 1
- Unit Type Actual Rent: $2,105
- Unit Type Total Rent: $21,048
- Unit Type Pro Forma: 3195
- Unit Type Type: 2
- Rent Controlled: Yes
- Number Of Buildings: 2
- Number Of Separate Electric Meters: 16
- Number Of Separate Gas Meters: 16
- Number Of Separate Water Meters: 2
Property History for 11473 Venice Blvd.
| Date | Event & Source | Price | Appreciation |
|---|
| Date | Event & Source | Price |
|---|
For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Public Records for 11473 Venice Blvd.
Schools near 11473 Venice Blvd.
Rating | School | Type | Grades | Distance |
|---|---|---|---|---|
| Public - | K to 5 | |||
| Public - | 6 to 8 | |||
| Public - | 9 to 12 | |||
| Public - | 6 to 12 |
Rating | School | Distance |
|---|---|---|
Grand View Boulevard Elementary School PublicK to 5 | ||
Daniel Webster Middle School Public6 to 8 | ||
Venice Senior High School Public9 to 12 | ||
James J. Mcbride Special Education Center Public6 to 12 |
School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.
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Listing Courtesy of Lyon Stahl Investment Real Estate, Inc., Aaron Jacobson, DRE #02100737; Lyon Stahl Investment Real Estate, Inc., Cameron Samimi, DRE #02035763
Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.