559 Sunset Ave Venice, CA 90291
Prime coastal multifamily property with value-add potential in Venice.
Lot size:
0.26 AcresProperty Features for 559 Sunset Ave
General Information
- Lot size
- 0.26 Acres
Building Details
- Year built
- 1964
Source:
Elliman
Listing Agency: Lyon Stahl Investment Real Estate, Inc.
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
Overview
Venice Multifamily Asset with Upside
Located at 559 Sunset Ave in Venice, CA 90291, this multifamily asset features fourteen units. Five units will be delivered vacant at closing, offering immediate cash flow and rent growth potential. The property is positioned on an 11,278 SF RD1.5-zoned double lot, providing long-term upside through RTI plans for three ADUs and the ability to enhance value with strategic renovation and modernization. Current rents are below market, with pro forma projections showing income growth as units are upgraded and stabilized, driven by Venice's rental demand and limited supply. The property is minutes from Abbot Kinney, Lincoln Blvd, the beach, and major Silicon Beach employment hubs, with walkable access to neighborhood dining, shopping, and recreation. This property offers an opportunity in one of Los Angeles' desirable coastal submarkets.
Location Intelligence
Current Use by Public Records
Apartment buildings
Location Insight
- Map
- Local Demand
- City
- Venice
- County
- Los Angeles
- State
- California
- Longitude
- -118.47088
- Latitude
- 33.99749
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FAQs
What type of property is this?
Apartment building - Prime coastal multifamily property with value-add potential in Venice.
Where is this apartment building located?
The property is located at 559 Sunset Ave Venice, CA.
What is the asking price?
The asking price for this property is $6,100,000.
What are key features of this property?
This property features: - Five units delivered vacant, offering immediate cash flow and rent growth.; - Expansive 11,278 SF RD1.5-zoned double lot with RTI plans for three ADUs.; - Prime location minutes from Abbot Kinney, Lincoln Blvd, the beach, and Silicon Beach employment hubs.