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705 6th Ave

4 Unit Block of Flats £4,335,555 (£1,083,889/Unit) 5.26% Net Initial Yield Venice, CA 90291

Executive Summary

This rare opportunity in the heart of Venice Beach offers unmatched versatility, privacy, and luxury. Delivered fully vacant, this meticulously designed 4-unit property features a completely rebuilt front house, duplex, and brand-new construction ADU, making it a perfect investment or owner-occupant dream. The property has a turkey corporate rental system that is ready to go for any buyer looking to increase income and minimal turnover. Front House: Newly rebuilt in 2024, a spacious 3-bedroom, 3-bathroom two-story home with modern finishes and an open floor plan. Enjoy ample natural light through several perfectly placed skylights, a large kitchen, luxurious primary suite, private yard and in-unit laundry. Middle Duplex: Two newly remodeled and thoughtfully designed units, each boasting 3 bedrooms and 2 bathrooms. Both units offer comfortable layouts with open floor plans, private outdoor areas, and in-unit laundry. ADU (Accessory Dwelling Unit): Newly constructed in 2024, 2-bedroom, 2-bathroom free standing home with a stunning oversized rooftop deck. The expansive outdoor space includes an outdoor kitchen, ideal for entertaining, and breathtaking views of the city. Every unit has been crafted to provide the utmost privacy with custom-designed fencing and walkways throughout the property. Each residence includes its own large private outdoor space and in-unit laundry, making it a highly desirable living environment for future tenants or guests. Located just steps from Rose Blvd and Abbot Kinney Blvd, you're in the heart of everything Venice Beach has to offer: boutique shopping, top-rated restaurants, and iconic coastal living. This property is truly one-of-a-kind, offering flexibility, privacy, and an unbeatable location! Don't miss out on this unique Venice opportunity.

Attachments

705 6th OM

Financial Summary (Actual - 2023) Click Here to Access

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

Financial Summary (Actual - 2023) Click Here to Access

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

Property Facts

Price £4,335,555
Price Per Unit £1,083,889
Sale Type Investment
Net Initial Yield 5.26%
Sale Conditions High Vacancy Property
Gross Rent Multiplier 13.08
No. Units 4
Property Type Residential
Property Subtype Apartment
Building Class C
Lot Size 0.13 AC
Building Size 4,289 SF
Average Occupancy 100%
Number of Floors 2
Year Built 1924
Parking Ratio 1.17/1,000 SF

Unit Mix Information

Description No. Units Avg. Rent.Mo SF
3+3 1 £7,890 1,441
3+2 2 £6,312 1,044
2+2 1 £7,101 760
Walk Score ®
Walker's Paradise (90)
Bike Score ®
Biker's Paradise (97)
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
LARD1.5
  • Listing ID: 33581767

  • Date on Market: 21/10/2024

  • Last Updated:

  • Address: 705 6th Ave, Venice, CA 90291

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