2176 South Venice Boulevard

2176 South Venice Boulevard

Los Angeles, CA 90006

$3,650,000
Price
10
Beds
17
Baths
9,311 Sq. Ft.
$392 / Sq. Ft.
9,311
Sq. Ft.
$392
per Sq. Ft.
a living room with stainless steel appliances kitchen island granite countertop a couch and a dining table with garden view
a living room with furniture and wooden floor
a bedroom with a bed and a couch
a bathroom with a sink a toilet and shower
a view of a street with cars
a view of a house with a patio
a car parked in front of a building
a view of a large building
a view of a chair and a fence
a view of a living room with a bed
a view of a house with wooden floor and furniture
a living room with furniture and a flat screen tv
a dining room with furniture and window
a kitchen with a sink a stove and cabinets
a bathroom with a sink and a mirror
a view of a building from a balcony
a car parked in garage
a view of a car parked in garage
a view of balcony with furniture

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!
  1. Listed by Armin Soleimani • DRE #01846872 • Brokerage DRE #02062910 • Global Platinum Properties, Inc.
  2. Listed by Julio Ruiz • DRE #01911261 • Brokerage DRE #02062910 • Global Platinum Properties, Inc.

Property Details for 2176 South Venice Boulevard

Architectural Style
Traditional
Parking Spaces Total
0
Total Units
17.0
Lot Size Source
Owner
Living Area
9311
New Construction
No
Building Area Total
9311
Stories Total
2

Location

Listing Courtesy of Global Platinum Properties, Inc., Armin Soleimani, DRE #01846872; Global Platinum Properties, Inc., Julio Ruiz, DRE #01911261
Add your commute
LISTING UPDATED: 03/12/2024 08:29 AM

Property Details for 2176 South Venice Boulevard

StatusActive
MLS #24364967
Days on Market56
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1963
Lot Size0.23 AC / 10,015 SF
CountyLos Angeles County

Location

Listing Courtesy of Global Platinum Properties, Inc., Armin Soleimani, DRE #01846872; Global Platinum Properties, Inc., Julio Ruiz, DRE #01911261
Add your commute

Building Information for 2176 South Venice Boulevard

Stories2Residences-Year Built1963Building Size-Lot Size0.23 AC / 10,015 SF

Payment Calculator

$19,920 per month

30 year fixed, 7.25% Interest

Principal and Interest

$19,920

Property Taxes

—

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 2176 South Venice Boulevard

Income / Expense / Tax Details
Income Details
  • Gross Income: $318,705
  • Gross Operating Income: $309,143
  • Net Operating Income: $227,972
  • Gross Multiplier: 11.45
  • Cap Rate: 6.25
Expense Details
  • Total Expenses: $81,171
Community / Development
Community / Development
  • Assessments YN: No
Property / Structure Info
Interior Features
  • Heating: Wall Furnace
Land/Lot Info
  • Levels: Two
Parking Info
  • Parking: Yes
  • Parking Features: Gated, Uncovered, Covered
Unit Information
Unit 1
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Actual Rent: $2,407
  • Unit Type Total Rent: $1,089
  • Unit Type Pro Forma: 2407
  • Unit Type Type: 1
Unit 2
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Actual Rent: $2,407
  • Unit Type Total Rent: $2,250
  • Unit Type Pro Forma: 2407
  • Unit Type Type: 10
Unit 3
  • Unit Type Units Total: 3
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Actual Rent: $2,407
  • Unit Type Total Rent: $1,029
  • Unit Type Pro Forma: 2407
  • Unit Type Type: 2
Unit 4
  • Unit Type Units Total: 3
  • Unit Type Beds Total: 0
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Actual Rent: $1,995
  • Unit Type Total Rent: $0
  • Unit Type Pro Forma: 1995
  • Unit Type Type: 3
Unit 5
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 0
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Actual Rent: $1,595
  • Unit Type Total Rent: $0
  • Unit Type Pro Forma: 1595
  • Unit Type Type: 4
Unit 6
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Actual Rent: $2,407
  • Unit Type Total Rent: $1,253
  • Unit Type Pro Forma: 2407
  • Unit Type Type: 5
Unit 7
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Actual Rent: $2,407
  • Unit Type Total Rent: $1,093
  • Unit Type Pro Forma: 2407
  • Unit Type Type: 6
Unit 8
  • Unit Type Units Total: 3
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Actual Rent: $2,407
  • Unit Type Total Rent: $2,345
  • Unit Type Pro Forma: 2407
  • Unit Type Type: 7
Unit 9
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Actual Rent: $2,407
  • Unit Type Total Rent: $1,092
  • Unit Type Pro Forma: 2407
  • Unit Type Type: 8
Unit 10
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 3
  • Unit Type Baths Total: 2
  • Unit Type Furnished: Unfurnished
  • Unit Type Actual Rent: $3,915
  • Unit Type Total Rent: $1,089
  • Unit Type Pro Forma: 3915
  • Unit Type Type: 9
Unit Information
  • Number Of Buildings: 1

Property History for 2176 South Venice Boulevard

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

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
Twenty-Fourth Street Elementary School
Public - K to 4
Carson-Gore Academy Of Enviornmental Studies
Public - K to 5
Crown Preparatory Academy
Charter - 5 to 8
Pio Pico Middle School
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.

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More information about 2176 South Venice Boulevard, Los Angeles, CA 90006

2176 South Venice Boulevard is a multi-family home for sale in Los Angeles, CA 90006. This property was listed for sale on March 4, 2024 by Global Platinum Properties, Inc., it's currently listed at $3,650,000. This listing's school district is Los Angeles Unified School District. Nearby schools include Twenty-Fourth Street Elementary School, Carson-Gore Academy Of Enviornmental Studies and Crown Preparatory Academy. 2176 South Venice Boulevard is a 10-bed, 17-bath, 9,311 sqft multi-family home built in 1963.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Global Platinum Properties, Inc., Armin Soleimani, DRE #01846872; Global Platinum Properties, Inc., Julio Ruiz, DRE #01911261

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.