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    19 Wavecrest Ave Los Angeles, CA 90291

    Sponsored
    For Sale
    $5,200,000

    10-Unit Beachfront Value-Add Opportunity

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    394
    Exceptional investment opportunity: a 10-unit Class A apartment building in Los Angeles, CA, located just steps from the Venice Beach Boardwalk. This 7,280 square foot property, built in 1912, boasts a compelling 5.97% cap rate and a pro-forma cap rate of 6.23%. The building comprises one four-story structure featuring seven one-bedroom units (approximately 650 sq ft each), two two-bedroom/one-bathroom units (approximately 815 sq ft each), and a luxurious two-bedroom/two-bathroom penthouse (approximately 1,100 sq ft) with a jacuzzi, rooftop deck, and stunning ocean and city views. The current NOI is $310,392, with a pro-forma NOI of $323,989. Up to five units could be delivered vacant at closing, with potential for a market-rate lease-back on the penthouse. Residents enjoy prime Venice Beach living, with close proximity to Abbot Kinney Boulevard and the Santa Monica Pier. Units feature desirable amenities including ocean views, Spanish tile, private patios, and on-site laundry. The asking price is $5,200,000, representing $520,000 per unit. This property presents a rare chance to acquire a well-located, value-add multifamily asset in a highly desirable coastal market.

    Property Features for 19 Wavecrest Ave

    General Information

    Property type
    Multifamily properties
    Class
    A

    Building Details

    Year Built
    1912
    Buildings
    1
    Stories
    4
    Units
    10

    HighLights

    • $5,200,000 asking price for a value‑add opportunity.
    • 10‑unit apartment building in Los Angeles, CA.
    • 7,280 square feet of net rentable area.
    • 5.97% current cap rate, 6.23% pro‑forma cap rate.
    • $310,392 current NOI, $323,989 pro‑forma NOI.
    • Located steps from the Venice Beach boardwalk.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Food Market Grocery Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Los Angeles
    County
    Los Angeles
    State
    California
    Longitude
    -118.4754392
    Latitude
    33.9900779

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    FAQs

    What type of property is this?
    Multifamily property - 10-Unit Beachfront Value-Add Opportunity
    Where is this multifamily property located?
    The property is located at 19 Wavecrest Ave Los Angeles, CA.
    What is the asking price?
    The asking price for this property is $5,200,000.
    What are key features of this property?
    This property features: $5,200,000 asking price for a value-add opportunity.; 10-unit apartment building in Los Angeles, CA.; 7,280 square feet of net rentable area.
    Request Owner's contact information
    19 Wavecrest Ave Los Angeles, CA 90291
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    Los Angeles, CA 90291
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    19 Wavecrest Ave Los Angeles, CA 90291
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