NOW PRICED TO SELL: 15 units on Abbot Kinney! | 2700 Abbot Kinney Blvd
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NOW PRICED TO SELL: 15 units on Abbot Kinney! 2700 Abbot Kinney Blvd
15 Unit Block of Flats £4,357,901 (£290,527/Unit) Venice, CA 90291
INVESTMENT HIGHLIGHTS
- NOW PRICED TO SELL - Premier Venice location on Prestigious Abbot Kinney Blvd.
- Courtyard building with custom planters and seating
- New roof and all new windows installed in 2019
- Incredible unit mix with lots of rental upside
- Approx. $446,000 spent on apartment renovations and approx. $597,000 spent on common area renovations
- Walk to high-end dining, beach and nightlife
EXECUTIVE SUMMARY
NOW PRICED TO SELL - JUST REDUCED! Taksa Investment Group, part of RE/MAX Commercial & Investment Realty, is pleased to offer for sale an incredible multifamily asset at 2700 Abbot Kinney Blvd. in the heart of LA’s famed beach city of Venice. Originally built in 1959, the building boasts an incredibly rare unit mix consisting of 1 and 2 bedroom units. Each of these units are spacious and have a terrific floor plan. The property is situated on a large corner lot; thus, all units offer an abundance of natural light. There is HUGE rental upside, as current rents hover around $2.92/SF. Additionally, there is parking for all units as well as an on-site laundry facility. All units look out to a serene and beautifully landscaped courtyard, and residents enjoy being walking distance to the Venice Boardwalk and the beach. This is a fantastic trophy asset in an undeniably attractive location that will surely pay long-term dividends to a savvy investor. A walker’s paradise, this rare offering presents an astute investor with the unique opportunity to capitalize on higher market rents and to acquire a premier turnkey asset in one of the best rental locations in all of Los Angeles.
FINANCIAL SUMMARY (PRO FORMA - 2024) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
£296,558
|
£26.53
|
| Other Income |
£2,388
|
£0.21
|
| Vacancy Loss |
£8,897
|
£0.80
|
| Effective Gross Income |
£290,049
|
£25.94
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
£102,593
|
£9.18
|
| Net Operating Income |
£187,456
|
£16.77
|
FINANCIAL SUMMARY (PRO FORMA - 2024)
| Gross Rental Income | |
|---|---|
| Annual | £296,558 |
| Annual Per SF | £26.53 |
| Other Income | |
|---|---|
| Annual | £2,388 |
| Annual Per SF | £0.21 |
| Vacancy Loss | |
|---|---|
| Annual | £8,897 |
| Annual Per SF | £0.80 |
| Effective Gross Income | |
|---|---|
| Annual | £290,049 |
| Annual Per SF | £25.94 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | £102,593 |
| Annual Per SF | £9.18 |
| Net Operating Income | |
|---|---|
| Annual | £187,456 |
| Annual Per SF | £16.77 |
PROPERTY FACTS
| Price | £4,357,901 | Building Class | C |
| Price Per Unit | £290,527 | Lot Size | 0.32 AC |
| Sale Type | Investment | Building Size | 11,180 SF |
| Gross Rent Multiplier | 14.58 | Average Occupancy | 87% |
| No. Units | 15 | Number of Floors | 2 |
| Property Type | Multifamily | Year Built | 1959 |
| Property Subtype | Apartment | Parking Ratio | 1.34/1,000 SF |
| Apartment Style | Low-Rise |
| Price | £4,357,901 |
| Price Per Unit | £290,527 |
| Sale Type | Investment |
| Gross Rent Multiplier | 14.58 |
| No. Units | 15 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.32 AC |
| Building Size | 11,180 SF |
| Average Occupancy | 87% |
| Number of Floors | 2 |
| Year Built | 1959 |
| Parking Ratio | 1.34/1,000 SF |
UNIT AMENITIES
- Air Conditioning
- Disposal
- Heating
- Kitchen
- Wooden Floors
- Refrigerator
- Oven
- Tub/Shower
- Freezer
SITE AMENITIES
- 24 Hour Access
- Laundry Facilities
- Property Manager on Site
- Maintenance on site
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | Avg. Rent.Mo | SF |
|---|---|---|---|
| 1+1 | 6 | £1,430 | 600 - 650 |
| 2+1 | 9 | £1,746 | 800 |
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Walk Score®
Walker's Paradise (92)
Bike Score®
Biker's Paradise (92)
ZONING
| Zoning Code | LAR1 (One-Family Residential) |
| LAR1 (One-Family Residential) |
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NOW PRICED TO SELL: 15 units on Abbot Kinney! | 2700 Abbot Kinney Blvd
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