20 17TH Avenue

    Venice, CA 90291
    • $2,500,000
    • STATUS: Active
    • ON SITE: 82 days
    • ID#: 20540868
    UPDATED: 18 min ago
    $2,500,000
    • 0
      BEDS
    • 0.06
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1964
    County:
    Area:

    School Ratings & Info

    Description

    We are pleased to present 20 17th Avenue, a four-unit value add opportunity located in the heart of Venice Beach. The property, which will be delivered 50% vacant at close of escrow, consists of one Studio measuring approximately 425 square feet, one (1) one bedroom/one bathroom unit measuring approximately 500 square feet, one (1) two bedroom/one bathroom measuring approximately 750 square feet, and one (1) two bedroom/two bathroom measuring approximately 800 square feet (unit sizes are estimated, buyer to verify). Additionally, the current ownership has upgraded some of the major building systems including copper plumbing and an upgraded water boiler. 20 17th Avenue features three secured parking spots in the rear of the property. The property has been under the same ownership for over 30 years and is well maintained, but primed for investors to immediately capture the opportunity to re-position the property due to the asset being delivered 50% vacant.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2020-03-29T17:26:51.847. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or The Houston Team | Compass CA DRE#01991628. Licensed in the State of California, USA.

    www.northsdrealty.com/homes/102076118

    20 17TH Avenue Venice, CA 90291

    • Price: $2,500,000
    • Status: Active
    • Updated: 18 min ago
    • ID#: 20540868
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.06
    Acres
    1964
    Built
    Neighborhood:
    C11 - Venice
    County:
    Los Angeles
    Area:
    C11 - Venice
    Property Description
    We are pleased to present 20 17th Avenue, a four-unit value add opportunity located in the heart of Venice Beach. The property, which will be delivered 50% vacant at close of escrow, consists of one Studio measuring approximately 425 square feet, one (1) one bedroom/one bathroom unit measuring approximately 500 square feet, one (1) two bedroom/one bathroom measuring approximately 750 square feet, and one (1) two bedroom/two bathroom measuring approximately 800 square feet (unit sizes are estimated, buyer to verify). Additionally, the current ownership has upgraded some of the major building systems including copper plumbing and an upgraded water boiler. 20 17th Avenue features three secured parking spots in the rear of the property. The property has been under the same ownership for over 30 years and is well maintained, but primed for investors to immediately capture the opportunity to re-position the property due to the asset being delivered 50% vacant.
    Exterior Features

    Lot Size Source Assessor Lot Size Units Square Feet Parking Features Parking Space Parking YN Yes

    Property Features

    Gross Income 158196.00 Gross Multiplier 15.80 Gross Operating Income 159396.00 Net Operating Income 114177.00 Senior Community YN No Special Listing Conditions Standard Zoning Lard1.5

    Listing provided courtesy of Sean Rosenzweig of Marcus & Millichap


    Based on information from California Regional Multiple Listing Service, Inc. as of 2020-03-29T17:26:51.847. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or The Houston Team | Compass CA DRE#01991628. Licensed in the State of California, USA.

     
    The Houston Team | Compass CA DRE#01991628
    2100 Costa Del Mar
    Carlsbad CA, 92009