2418 Pacific Ave
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2418 Pacific Ave
4 Unit Apartment Building Offered at $3,094,474 CAD at a 4.68% Cap Rate in Venice, CA 90291
INVESTMENT HIGHLIGHTS
- Can be sold with an identical 4-plex next door at 2420 Pacific Ave.
- Studio Unit Will be Delivered Vacant.
- The Property is Low Maintenance With Select Units Renovated, Copper Plumbing, and a Relatively New Roof.
- Located off Venice Canal Walk Streets, with Venice Beach Just Seconds Away.
- The Building Features 6 Carport Parking Spaces and a Patio/Deck for 3/4 of the units, Making it easy to Find Tenants and Achieve Premium Rents.
- Ideal for an Owner-Occupant Seeking to Offset Their Mortgage with Rental Income or an Investor Looking to Utilize Residential Financing with 75% LTV.
EXECUTIVE SUMMARY
For the first time in nearly five decades, 2418 Pacific
Ave is now on the market. The sellers own an identical
4-plex next door at 2420 Pacific and are open to offers
on both properties, either together or separately.
These exceptional A-Class Venice assets are on the
walk streets of the Venice Canals and are mere
seconds from the beach. This offering presents an
outstanding opportunity for an investor or owneroccupant
to acquire a trophy asset in a highly
desirable area of Venice Beach. The building boasts
strong in-place rents and is being offered at a 4.68%
cap rate and 15.21 GRM. With parking and outdoor
space available for 3 out of 4 units, a buyer will have
ease when renting, minimizing vacancy loss.
Each property is a 2,802 square feet 4-unit building on
a 2,755-square foot lot. They feature on 3bed/2bath
unit with a patio and 2 parking spaces, one
2bed/1bath unit with a large back deck and 2 parking
spaces, and 2 studio units with one parking space
each and a patio. Reach out for more information
regarding 2420 Pacific Ave.
Ave is now on the market. The sellers own an identical
4-plex next door at 2420 Pacific and are open to offers
on both properties, either together or separately.
These exceptional A-Class Venice assets are on the
walk streets of the Venice Canals and are mere
seconds from the beach. This offering presents an
outstanding opportunity for an investor or owneroccupant
to acquire a trophy asset in a highly
desirable area of Venice Beach. The building boasts
strong in-place rents and is being offered at a 4.68%
cap rate and 15.21 GRM. With parking and outdoor
space available for 3 out of 4 units, a buyer will have
ease when renting, minimizing vacancy loss.
Each property is a 2,802 square feet 4-unit building on
a 2,755-square foot lot. They feature on 3bed/2bath
unit with a patio and 2 parking spaces, one
2bed/1bath unit with a large back deck and 2 parking
spaces, and 2 studio units with one parking space
each and a patio. Reach out for more information
regarding 2420 Pacific Ave.
FINANCIAL SUMMARY (ACTUAL - 2023) |
ANNUAL (CAD) | ANNUAL PER SF (CAD) |
|---|---|---|
| Gross Rental Income |
$203,510
|
$72.50
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$6,105
|
$2.18
|
| Effective Gross Income |
$197,404
|
$70.33
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$52,702
|
$18.78
|
| Net Operating Income |
$144,702
|
$51.55
|
FINANCIAL SUMMARY (ACTUAL - 2023)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $203,510 |
| Annual Per SF | $72.50 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $6,105 |
| Annual Per SF | $2.18 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $197,404 |
| Annual Per SF | $70.33 |
| Taxes (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses (CAD) | |
|---|---|
| Annual | $52,702 |
| Annual Per SF | $18.78 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $144,702 |
| Annual Per SF | $51.55 |
PROPERTY FACTS
| Price | $3,094,474 CAD | No. Units | 4 |
| Price Per Unit | $773,618 CAD | Property Type | Multifamily |
| Sale Type | Investment | Building Size | 2,807 SF |
| Cap Rate | 4.68% | No. Stories | 2 |
| Gross Rent Multiplier | 15.21 | Year Built | 1965 |
| Price | $3,094,474 CAD |
| Price Per Unit | $773,618 CAD |
| Sale Type | Investment |
| Cap Rate | 4.68% |
| Gross Rent Multiplier | 15.21 |
| No. Units | 4 |
| Property Type | Multifamily |
| Building Size | 2,807 SF |
| No. Stories | 2 |
| Year Built | 1965 |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 3+2 | 1 | $5,566 CAD | - |
| 2+1 | 1 | $6,189 CAD | - |
| Studios | 2 | $3,594 CAD | - |
1 of 1
Walk Score®
Walker's Paradise (90)
Bike Score®
Biker's Paradise (98)
PROPERTY TAXES
| Parcel Number | 4227-004-038 | Improvements Assessment | $408,887 CAD (2024) |
| Land Assessment | $418,246 CAD (2024) | Total Assessment | $827,133 CAD (2024) |
PROPERTY TAXES
Parcel Number
4227-004-038
Land Assessment
$418,246 CAD (2024)
Improvements Assessment
$408,887 CAD (2024)
Total Assessment
$827,133 CAD (2024)
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