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2422 Venice Blvd is a 14 unit apartment building located in the Mid-City Submarket of Los Angeles. Located west of Western Ave, in between Gramercy and St Andrews. Built in 1913, the property consists of (13) SRO units and (1) Bachelor unit. Delivered with 9 vacant units. The property includes 4 recently renovated shared bathrooms totaling 7 toilets and 5 showers, on-site gated parking for 5 cars in the rear, on-site laundry, a recently renovated shared kitchen space, and a new roof. The subject property sits on a 6,006 sf lot zoned LAR3. The investment is offered at a very attractive cap rate and GRM with significant upside in rents. This property covers for a $1,400,000 loan at an 8.5% IO rate for 24 months. This along with the significant amenities for an SRO property make this an attractive opportunity for an investor.
Property Type(s):
Residential Income
| Last Updated | 10/5/2024 | Year Built | 1913 |
|---|---|---|---|
| Community | Mid Los Angeles | County | Los Angeles |
Additional Details
| AIR | Wall/Window Unit(s) |
|---|---|
| AIR CONDITIONING | Yes |
| APPLIANCES | Dishwasher, Disposal, Dryer, Refrigerator, Washer |
| AREA | Mid Los Angeles |
| CONSTRUCTION | Stucco |
| GARAGE | Carport |
| HEAT | Wall Furnace |
| LOT | 6008 sq ft |
| PARKING | Carport |
| POOL DESCRIPTION | None |
| SEWER | Other |
| STORIES | 2 |
| STYLE | Mid-Century Modern |
| VIEW | Yes |
| VIEW DESCRIPTION | City Lights |
| ZONING | LAR3 |
Location
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Listed with Lyon Stahl Investment Real Estate, Inc.
The information being provided by Conejo Simi Moorpark Association of REALTORS® (“CSMAR”) is for the visitor's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. Any information relating to a property referenced on this web site comes from the Internet Data Exchange (“IDX”) program of CSMAR. 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. Any information relating to a property, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. The data contained herein is copyrighted by CSMAR and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.
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