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2918 Pacific Ave

Venice, CA 90291
  • $2,299,000
  • STATUS: Active
  • ON SITE: 11 Days
  • MLS #: 21-106567
UPDATED: 69 min ago
$2,299,000
  • 4
    BEDS
  • 0.06
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 1,460
    SQFT
  • $1,575
    $/SQFT
Neighborhood:
Type:
Multi-Family
Built:
1924
County:
Area:

School Ratings & Info

Description

Located adjacent to the world-famous Venice Canals and just one block from the sand and Venice Beach, these charming park-like parcels are ripe for development or to add additional ADU structures for increased rental income. This 2,829 sq ft parcel is comprised of two singles plus one 2 bed/1 bathCurrent rental income is $9,600 / mo. Cap Rate 5.0%This property along with the adjoining property located at 2918 Pacific creates two separate parcels totaling 6,558 sq ft of land with approximately 2,618 sq ft of buildings comprised of two 2 bed/1 bath units on one lot and two singles plus a 2 bed 1 bath on the other lot. Both properties run street to street to afford access from both Pacific Ave as well as Strongs Dr. Located a few feet from public transportation the property could take advantage of SB 10 which allows for greater density than previously zoned. The properties may possibly be available individually but it is the seller's intention to sell both units.

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Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-12-01T09:42:21.007. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
www.haciendagroupinc.com/homes/123427257
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2918 Pacific Ave Venice, CA 90291

  • Price: $2,299,000
  • Status: Active
  • On Site: 11 Days
  • Updated: 69 min ago
  • MLS #: 21-106567
4
Beds
0
Baths
0
½ Baths
0.06
Acres
1,460
SQFT
$1,575
$/SQFT
1924
Built
Neighborhood:
Venice
County:
Los Angeles
Area:
Venice
Property Description
Located adjacent to the world-famous Venice Canals and just one block from the sand and Venice Beach, these charming park-like parcels are ripe for development or to add additional ADU structures for increased rental income. This 2,829 sq ft parcel is comprised of two singles plus one 2 bed/1 bathCurrent rental income is $9,600 / mo. Cap Rate 5.0%This property along with the adjoining property located at 2918 Pacific creates two separate parcels totaling 6,558 sq ft of land with approximately 2,618 sq ft of buildings comprised of two 2 bed/1 bath units on one lot and two singles plus a 2 bed 1 bath on the other lot. Both properties run street to street to afford access from both Pacific Ave as well as Strongs Dr. Located a few feet from public transportation the property could take advantage of SB 10 which allows for greater density than previously zoned. The properties may possibly be available individually but it is the seller's intention to sell both units.
Exterior Features

Cross Streets Washington Lot Description Alley PavedFenced Yard Lot Location Alley Access Lot Size Area 2829 Other Structures None Parking Garage Parking Space Style Bungalow Total Parking 5

Interior Features

Baths Total 2.00 Cooling None Equipment None Heating Floor Furnace Laundry Community Laundry Equipment Own

Property Features

ADACompliance No Assessed Total Value 812207 Gross Income 115200 Gross Operating Income 115200 Like Units1 1 Like Units2 1 Like Units3 1 Net Operating Income 114000.00 Number Of Buildings 1 Number Of Units 2 Owner Pays Gardener Sale Type Standard Security Features Gated Source Living Area Vendor Enhanced Source Lot Size Area Vendor Enhanced Tenant Pays Cable TvElectricityGas Total Annual Expense 1200 Type Of Units Rental Water Heaters YN Yes Year Built Source Vendor Enhanced Zoning Lard1.5

Listing provided courtesy of Michael Earley DRE#00877967 of Douglas Elliman Of California, Inc..


Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-12-01T09:42:21.007. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
 
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Hacienda Agency Inc
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