$3,650,000
2176 Venice Boulevard, Los Angeles 90006
10
Beds
11
Baths
9,311
Square feet
10,015
Lot Size
17
# Of Units
Listing Agent
Armin Soleimani - Global Platinum Properties, Inc.17-unit value-add opportunity priced at only 214k/door with a remarkable Current Cap Rate of 6.25% and 11.4 GRM and an incredible upside potential to 10.48% Cap Rate and 7.61 GRM on proforma. The property consists of 14 units plus 3 brand-new attached ADUs currently under construction. Additionally, 5 of the 14 units have been already fully remodeled with permits and boast new modern cabinets, flooring, lighting, new bathrooms, and significant exterior improvements. Each unit is individually metered for gas and electricity while tenants cover garbage fees - saving you money on utilities from day one. The large 10,015 SF lot comes complete with gated parking spaces that can accommodate up to multiple cars and requires no soft-story retrofitting. Plus, there are Nearly RTI plans to add 2 additional detached ADUs (2bed/2bath & 3bed/3bath) over the carport to improve the numbers to only 192k/unit, 324/SF, 8.2% Cap Rate, and 9 GRM on current with upside to 12% Cap Rate and 6.6 GRM on proforma after building the detached ADUs. And let's not forget about its unbeatable location near popular neighborhood attractions like Alibi Coffee Co., Starbucks, Koreatown, DTLA, Culver City, and public transportation options all while being in close proximity to major freeways ensuring smooth travel times within Los Angeles city limits. Don't wait another moment to grab this rare opportunity before it slips away!
Facts & Features
| MLS® # | 24364967 |
|---|---|
| Price | $3,650,000 |
| Bedrooms | 10 |
| Bathrooms | 11.00 |
| Square Footage | 9,311 |
| Lot Size | 10,015 |
| Year Built | 1963 |
| Type | Residential Income |
| Style | Traditional |
| Status | Active |
| # Of Units | 17 |
Community Information
| Address | 2176 Venice Boulevard |
|---|---|
| Area | C16 - Mid Los Angeles |
| City | Los Angeles |
| County | Los Angeles |
| Zip Code | 90006 |
Amenities
| Parking | Covered, Gated, Uncovered |
|---|---|
| Garages | Covered, Gated, Uncovered |
| Is Waterfront | No |
| Has Pool | No |
Interior
| Heating | Wall Furnace |
|---|---|
| Has Basement | No |
| Fireplace | No |
| # of Stories | 2 |
| Stories | Two |
Additional Information
| Date Listed | March 4th, 2024 |
|---|---|
| Days on Market | 59 |
| Zoning | LAC1 |
| Foreclosure | No |
| Short Sale | No |
| RE / Bank Owned | No |
Listing Details
| Agent | Armin Soleimani |
|---|---|
| Office | Global Platinum Properties, Inc. |