2176 South Venice Boulevard
2176 South Venice Boulevard
$3,650,000
16
18
9,311
9,311
$392
Description
17-unit value-add opportunity priced at only 214k/door with a remarkable Current Cap Rate of 6.25% and 11.4 GRM and an incredible upside potential to 10.48% Cap Rate and 7.61 GRM on proforma. The property consists of 14 units plus 3 brand-new attached ADUs currently under construction. Additionally, 5 of the 14 units have been already fully remodeled with permits and boast new modern cabinets, flooring, lighting, new bathrooms, and significant exterior improvements. Each unit is individually metered...17-unit value-add opportunity priced at only 214k/door with a remarkable Current Cap Rate of 6.25% and 11.4 GRM and an incredible upside potential to 10.48% Cap Rate and 7.61 GRM on proforma. The property consists of 14 units plus 3 brand-new attached ADUs currently under construction. Additionally, 5 of the 14 units have been already fully remodeled with permits and boast new modern cabinets, flooring, lighting, new bathrooms, and significant exterior improvements. Each unit is individually metered for gas and electricity while tenants cover garbage fees - saving you money on utilities from day one. The large 10,015 SF lot comes complete with gated parking spaces that can accommodate up to multiple cars and requires no soft-story retrofitting. Plus, there are Nearly RTI plans to add 2 additional detached ADUs (2bed/2bath & 3bed/3bath) over the carport to improve the numbers to only 192k/unit, 324/SF, 8.2% Cap Rate, and 9 GRM on current with upside to 12% Cap Rate and 6.6 GRM on proforma after building the detached ADUs. And let's not forget about its unbeatable location near popular neighborhood attractions like Alibi Coffee Co., Starbucks, Koreatown, DTLA, Culver City, and public transportation options all while being in close proximity to major freeways ensuring smooth travel times within Los Angeles city limits. Don't wait another moment to grab this rare opportunity before it slips away!
- Listed by Armin Soleimani • DRE #01846872 • Brokerage DRE #01911261 • Global Platinum Properties, Inc.
- Listed by Julio Ruiz • DRE #01911261 • Brokerage DRE #01911261 • Global Platinum Properties, Inc.
Property Details for 2176 South Venice Boulevard
Zoning
LAC1
StyleTraditional
Living Area9311
Source Living AreaOwner
AreaMid Los Angeles (C16)
Vacancy Rate4 Units
Lot Size Area10015
Source Lot Size AreaOwner
Location
LISTING UPDATED: 03/12/2024 03:15 PM
Property Details for 2176 South Venice Boulevard
Status | Active |
---|---|
MLS # | 24-364967 |
Days on Market | 56 |
Taxes | - |
HOA Fees | - |
Condo/Co-op Fees | - |
Compass Type | Multi Family |
MLS Type | Residential Income |
Year Built | 1963 |
Lot Size | 0.23 AC / 10,015 SF |
County | Los Angeles County |
Location
Building Information for 2176 South Venice Boulevard
Stories2Residences-Year Built1963Building Size-Lot Size0.23 AC / 10,015 SF
Payment Calculator
$19,920 per month
The Payment Calculator is for illustrative purposes only.
Property Information for 2176 South Venice Boulevard
Property History for 2176 South Venice Boulevard
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.
Schools near 2176 South Venice Boulevard
This home is within Los Angeles Unified School District.
Rating | School | Type | Grades | Distance |
---|---|---|---|---|
Public - | K to 4 | |||
Public - | K to 5 | |||
Charter - | 5 to 8 | |||
Public - | 6 to 8 |
Rating | School | Distance |
---|---|---|
Twenty-Fourth Street Elementary School PublicK to 4 | ||
Carson-Gore Academy Of Enviornmental Studies PublicK to 5 | ||
Crown Preparatory Academy Charter5 to 8 | ||
Pio Pico Middle School Public6 to 8 |
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.
Similar Homes
Sorry, we can't find any similar homes at this time. Please check back later.
Similar Sold Homes
Sorry, we can't find any similar sold homes at this time. Please check back later.