A 5 Unit Apartment Community in Venice | 614 6th Ave
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A 5 Unit Apartment Community in Venice 614 6th Ave
5 Unit Apartment Building $4,245,323 CAD ($849,065 CAD/Unit) 5.38% Cap Rate Venice, CA 90291
Investment Highlights
- Operating at a Current 5.38% Cap Rate with Additional Upside, This Would be the Highest Cap Rate for a Multi-Family Transaction in Venice in 2024
- The Government-Required Seismic Retrofit Work Has Been Completed by Current Ownership, Saving a New Investor Time and Capital
- Select Units have Stainless Steel Kitchen Appliances, In Unit Washers/Dryers, New Paint, Upgraded Kitchens & More
- Long Term Ownership, Family Owned and Operated and Has Not Been on Market in Over 20 Years
- A Sought-After Venice Pocket, Minutes From Rose Avenue, Abbott Kinney & Venice Boulevard. Easy Access to Restaurants, Bars, Gyms & Entertainment
- 100% Two & Three-Bedroom Units, with Large Common Area Outdoor Space
Executive Summary
DO NOT WALK THE PROPERTY OR DISRUPT TENANTS. CONTACT LISTING TEAM FOR DETAILS.
The SR Group of Marcus & Millichap, as the exclusive listing agent, is pleased to offer for sale a 5-unit apartment community located at 614 6th Avenue in Venice, California.
The subject property is located south of Rose Avenue and North of Venice Boulevard, within minutes of vibrant restaurants, cafes, bars, yoga studios, grocery stores, gyms, and entertainment options.
Situated on a 5,667 square foot parcel, the property is made up of one two-bedroom unit and four three-bedroom units. Interiors feature in-unit washer/dryers in all units except Unit 5, and four of the units have gated on-site parking. There is potential to add a fifth parking space by modifying the gate post - buyer to verify.
614 6th Avenue offers investors the opportunity to acquire a stabilized property in a prime Venice location. The neighborhood’s proximity to some of Los Angeles’s best bars and restaurants will support continued rent growth for a new investor who is looking for stable returns and long-term growth potential.
The SR Group of Marcus & Millichap, as the exclusive listing agent, is pleased to offer for sale a 5-unit apartment community located at 614 6th Avenue in Venice, California.
The subject property is located south of Rose Avenue and North of Venice Boulevard, within minutes of vibrant restaurants, cafes, bars, yoga studios, grocery stores, gyms, and entertainment options.
Situated on a 5,667 square foot parcel, the property is made up of one two-bedroom unit and four three-bedroom units. Interiors feature in-unit washer/dryers in all units except Unit 5, and four of the units have gated on-site parking. There is potential to add a fifth parking space by modifying the gate post - buyer to verify.
614 6th Avenue offers investors the opportunity to acquire a stabilized property in a prime Venice location. The neighborhood’s proximity to some of Los Angeles’s best bars and restaurants will support continued rent growth for a new investor who is looking for stable returns and long-term growth potential.
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Property Facts
| Price | $4,245,323 CAD | Apartment Style | Low Rise |
| Price Per Unit | $849,065 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.13 AC |
| Cap Rate | 5.38% | Building Size | 5,608 SF |
| Gross Rent Multiplier | 12.26 | Average Occupancy | 100% |
| No. Units | 5 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1964 |
| Property Subtype | Apartment | Parking Ratio | 0.71/1,000 SF |
| Price | $4,245,323 CAD |
| Price Per Unit | $849,065 CAD |
| Sale Type | Investment |
| Cap Rate | 5.38% |
| Gross Rent Multiplier | 12.26 |
| No. Units | 5 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.13 AC |
| Building Size | 5,608 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1964 |
| Parking Ratio | 0.71/1,000 SF |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 1 | - | - |
| 3+2 | 4 | - | - |
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Walk Score ®
Walker's Paradise (93)
Bike Score ®
Biker's Paradise (95)
PROPERTY TAXES
| Parcel Number | 4240-013-004 | Improvements Assessment | $416,270 CAD |
| Land Assessment | $703,503 CAD | Total Assessment | $1,119,772 CAD |
PROPERTY TAXES
Parcel Number
4240-013-004
Land Assessment
$703,503 CAD
Improvements Assessment
$416,270 CAD
Total Assessment
$1,119,772 CAD
zoning
| Zoning Code | LARD1 5 |
| LARD1 5 |
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Josh Zimmerman -
Marcus & Millichap
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A 5 Unit Apartment Community in Venice | 614 6th Ave
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