$6,250,000
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26 Beds
14 Baths
10,651 SqFt
SOLD DATE : 02/24/2023
Key Details
Property Type Single Family Home
Listing Status Sold
Purchase Type For Sale
Square Footage 10,651 sqft
Price per Sqft $546
MLS Listing ID 22215457
Sold Date 02/24/23
Bedrooms 26
HOA Y/N No
Year Built 1964
Lot Size 0.259 Acres
Property Description
559 Sunset Avenue is a 14-unit apartment located in the high barrier to entry neighborhood of Venice. The property is situated on a double lot (11,270 SF) and consists of two (2) one-bedroom units and twelve (12) two-bedroom units. In addition, the property is walking distance to the dining and entertainment options on Rose Avenue & 6th Avenue. The opportunity presents a new investor the ability to renovate units immediately and capture close to 63% upside in rents. Tenants are within 1 1/2 blocks to Whole Foods and a short walk to Abbot Kinney. Lastly, 559 Sunset is offered at a sub-16 GRM and provides ample parking for tenants (17 spaces).
Location
State CA
County Los Angeles
Area C11 - Venice
Zoning LARD1.5
Interior
Interior Features Ceiling Fan(s)
Heating Wall Furnace
Fireplace No
Exterior
Parking Features Assigned
Total Parking Spaces 17
Building
Story 2
New Construction No
Others
Senior Community No
Tax ID 4240010035
Special Listing Condition Standard
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Bought with Scott Chaplan Del Rey Urban Brokerage