• Broker Jonathan Taksa 4246728220

NOW PRICED TO SELL: 15 units on Abbot Kinney! 2700 Abbot Kinney Blvd 15 Unit Apartment Building $5,650,000 ($376,667/Unit) Venice, CA 90291

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INVESTMENT HIGHLIGHTS

  • NOW PRICED TO SELL - Premier Venice location on Prestigious Abbot Kinney Blvd.
  • Courtyard building with custom planters and seating
  • New roof and all new windows installed in 2019
  • Incredible unit mix with lots of rental upside
  • Approx. $446,000 spent on apartment renovations and approx. $597,000 spent on common area renovations
  • Walk to high-end dining, beach and nightlife

EXECUTIVE SUMMARY

NOW PRICED TO SELL - JUST REDUCED! Taksa Investment Group, part of RE/MAX Commercial & Investment Realty, is pleased to offer for sale an incredible multifamily asset at 2700 Abbot Kinney Blvd. in the heart of LA’s famed beach city of Venice. Originally built in 1959, the building boasts an incredibly rare unit mix consisting of 1 and 2 bedroom units. Each of these units are spacious and have a terrific floor plan. The property is situated on a large corner lot; thus, all units offer an abundance of natural light. There is HUGE rental upside, as current rents hover around $2.92/SF. Additionally, there is parking for all units as well as an on-site laundry facility. All units look out to a serene and beautifully landscaped courtyard, and residents enjoy being walking distance to the Venice Boardwalk and the beach. This is a fantastic trophy asset in an undeniably attractive location that will surely pay long-term dividends to a savvy investor. A walker’s paradise, this rare offering presents an astute investor with the unique opportunity to capitalize on higher market rents and to acquire a premier turnkey asset in one of the best rental locations in all of Los Angeles.

FINANCIAL SUMMARY (PRO FORMA - 2024)

ANNUAL ANNUAL PER SF
Gross Rental Income $384,486 $34.39
Other Income $3,096 $0.28
Vacancy Loss $11,535 $1.03
Effective Gross Income $376,047 $33.64
Taxes - -
Operating Expenses - -
Total Expenses $133,011 $11.90
Net Operating Income $243,036 $21.74

FINANCIAL SUMMARY (PRO FORMA - 2024)

Gross Rental Income
Annual $384,486
Annual Per SF $34.39
Other Income
Annual $3,096
Annual Per SF $0.28
Vacancy Loss
Annual $11,535
Annual Per SF $1.03
Effective Gross Income
Annual $376,047
Annual Per SF $33.64
Taxes
Annual -
Annual Per SF -
Operating Expenses
Annual -
Annual Per SF -
Total Expenses
Annual $133,011
Annual Per SF $11.90
Net Operating Income
Annual $243,036
Annual Per SF $21.74

PROPERTY FACTS

Price $5,650,000 Building Class C
Price Per Unit $376,667 Lot Size 0.32 AC
Sale Type Investment Building Size 11,180 SF
Gross Rent Multiplier 14.58 Average Occupancy 87%
No. Units 15 No. Stories 2
Property Type Multifamily Year Built 1959
Property Subtype Apartment Parking Ratio 1.34/1,000 SF
Apartment Style Low-Rise
Zoning LAR1 - One-Family Residential
Price $5,650,000
Price Per Unit $376,667
Sale Type Investment
Gross Rent Multiplier 14.58
No. Units 15
Property Type Multifamily
Property Subtype Apartment
Apartment Style Low-Rise
Building Class C
Lot Size 0.32 AC
Building Size 11,180 SF
Average Occupancy 87%
No. Stories 2
Year Built 1959
Parking Ratio 1.34/1,000 SF
Zoning LAR1 - One-Family Residential

AMENITIES

UNIT AMENITIES

  • Air Conditioning
  • Disposal
  • Heating
  • Kitchen
  • Hardwood Floors
  • Refrigerator
  • Oven
  • Tub/Shower
  • Freezer

SITE AMENITIES

  • 24 Hour Access
  • Laundry Facilities
  • Property Manager on Site
  • Maintenance on site

UNIT MIX INFORMATION

DESCRIPTION NO. UNITS AVG. RENT/MO SF
1+1 6 $1,854 600 - 650
2+1 9 $2,264 800
Walk Score®
Walker's Paradise (92)
Bike Score®
Biker's Paradise (92)

MAP

ADDITIONAL PHOTOS

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  • Listing ID: 32705670

  • Date on Market: 8/6/2024

  • Last Updated: 4/17/2025

  • Address: 2700 Abbot Kinney Blvd, Venice, CA 90291