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Venice Bungalow Compound by Abbot Kinney Blvd 315 Vernon Ave

6 Unit Block of Flats £4,229,820 (£704,970/Unit) 4.60% Net Initial Yield Venice, CA 90291

Investment Highlights

  • Craftsman bungalow compound, featuring 6 units on a 12,008 SF resort-like lot, blocks from Abbot Kinney & 0.5 miles from Venice Beach
  • Each bungalow was masterfully restored to showcase classic Craftsman bungalow architecture while adding a fun eclectic design twist
  • Interiors were upgraded with hardwood floors, stainless-steel appliances, wall A/C and heating units, and an in-unit washer and dryer
  • 12,008 SF expansive resort-style lot with communal outdoor areas, manicured gardens, lush foliage, firepits, and tall mature trees
  • Classic Hollywood Golden era accents include deep green colored cabinets, brass hardware, subway tiles in the kitchen and bathroom, and bay windows.
  • Villas of Venice is a part of the Golden Era Collection, four impeccably restored multifamily complexes in prime Los Angeles locations

Executive Summary

***3rd Price Reduction - $750,000 from originially listed price *** The Villas of Venice are an eclectic collection of 6 Craftsman bungalows built in 1906 & 1922 that were masterfully restored to their original charm. Set on an idyllic resort-like lot, the Villas of Venice create a private hideaway yet located steps from Venice Beach and Abbot Kinney Blvd. Each bungalow was masterfully restored to showcase classic Craftsman bungalow architecture while adding a fun eclectic design twist. Classic Hollywood Golden era accents including deep green colored cabinets, brass hardware, and a Hollywood Regency style chandelier add a true retro glamour factor to one of the restored kitchens. The extensive use of subway tiles in kitchens and baths creates a retro vibe for today. Breakfast nooks and window seats make these the perfect casual beach bungalows. Each bright and spacious unit features hardwood floors, exposed beams, and ornate detailing in the kitchen and bathroom. Unit interiors include stainless steel appliances, central A/C, and heat, and in-unit washer and dryer. Shared outdoor living space creates community here. The Villas of Venice is part of the Golden Era Collection, four impeccably restored multifamily complexes in prime Los Angeles locations. Please contact Kenny Stevens and Alyson Richards for more information.

Financial Summary (Actual - 2023) Click Here to Access

Annual Annual Per SF
Gross Rental Income $99,999 $9.99
Other Income $99,999 $9.99
Vacancy Loss $99,999 $9.99
Effective Gross Income $99,999 $9.99
Taxes $99,999 $9.99
Operating Expenses $99,999 $9.99
Total Expenses $99,999 $9.99
Net Operating Income $99,999 $9.99

Financial Summary (Actual - 2023) Click Here to Access

Gross Rental Income
Annual $99,999
Annual Per SF $9.99
Other Income
Annual $99,999
Annual Per SF $9.99
Vacancy Loss
Annual $99,999
Annual Per SF $9.99
Effective Gross Income
Annual $99,999
Annual Per SF $9.99
Taxes
Annual $99,999
Annual Per SF $9.99
Operating Expenses
Annual $99,999
Annual Per SF $9.99
Total Expenses
Annual $99,999
Annual Per SF $9.99
Net Operating Income
Annual $99,999
Annual Per SF $9.99

Property Facts

Price £4,229,820
Price Per Unit £704,970
Sale Type Investment
Net Initial Yield 4.60%
Gross Rent Multiplier 14.44
No. Units 6
Property Type Residential
Property Subtype Apartment
Apartment Style Low Rise
Building Class C
Lot Size 0.28 AC
Building Size 4,826 SF
Average Occupancy 100%
Number of Floors 2
Year Built/Renovated 1922/2018
Parking Ratio 1.66/1,000 SF

Unit Amenities

  • Air Conditioning
  • Washer/Dryer
  • Security System
  • Tile Floors
  • Wooden Floors
  • Stainless Steel Appliances
  • Porch

Site Amenities

  • Courtyard
  • Security System
  • Zen Garden

Unit Mix Information

Description No. Units Avg. Rent.Mo SF
3+2 1 £4,399 -
2+2 1 £4,480 -
2+1 2 £4,191 -
1+1.5 1 £3,499 -
1+1 1 £2,973 -
Walk Score ®
Walker's Paradise (94)
Bike Score ®
Biker's Paradise (100)
What is a Walk Score®, Transit Score® & Bike Score®?
Walk Score® measures the walkability of any address.
Transit Score® measures access to public transit.
Bike Score® measures bikeability of a location.
What is a Walk Score®
, Transit Score® & Bike Score?
Walk Score® measures the walkability
of any address. Transit Score®
measures access to public transit. Bike Score®
measures bikeability of a location.®

zoning

Zoning Code LARD1.5 (Multi-Family)
LARD1.5 (Multi-Family)
  • Listing ID: 30939598

  • Date on Market: 12/02/2024

  • Last Updated:

  • Address: 315 Vernon Ave, Venice, CA 90291

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