614 6th Ave - Apartments FOR SALE


Venice, CA 90291
$2,950,000 USD
213-943-1897
614 6th Ave, Venice, CA for Sale
$2,950,000 USD
Apartments - FOR SALE
1/30
null | 5.74% Cap Rate

614 6th Ave
Venice, CA 90291


HIGHLIGHTS

  • A Brand-New Roof (2025) and Upgraded Electrical Panels (2025) Provide an Excellent Physical Plant for New Ownership.
  • Select Units have Stainless Steel Kitchen Appliances, In Unit Washers/Dryers, New Paint, Upgraded Kitchens & Finishes
  • Operating at a Current 5.74% Cap Rate with Additional Upside, This Would be the Highest Cap Rate for a Multi-Family Transaction in Venice in 2024
  • Long Term Ownership, Family Owned and Operated and Has Not Been on Market in Over 20 Years
  • The Government-Required Seismic Retrofit Work Has Been Completed, Saving a New Investor Substantial Capital and Time.
  • Located in a Sought-After Pocket of Venice, Minutes from Rose Avenue, Abbot Kinney, and Venice Boulevard, with Easy Access to Restaurants, Bars, Gyms

OVERVIEW

PLEASE DO NOT WALK THE PROPERTY OR DISRUPT TENANTS. CONTACT LISTING TEAM FOR DETAILS. The SR Group of Marcus & Millichap, as the exclusive listing agent, is pleased to offer for sale a 5-unit apartment community located at 614 6th Avenue in Venice, California. The subject property is located south of Rose Avenue and North of Venice Boulevard, within minutes of vibrant restaurants, cafes, bars, yoga studios, grocery stores, gyms, and entertainment options. Situated on a 5,667 square foot parcel, the property is made up of one two-bedroom unit and four three-bedroom units. Interiors feature in-unit washer/dryers in all units except Unit 5, and four of the units have gated on-site parking. There is potential to add a fifth parking space by modifying the gate post - buyer to verify. 614 6th Avenue offers investors the opportunity to acquire a stabilized property in a prime Venice location. The neighborhood’s proximity to some of Los Angeles’s best bars and restaurants will support continued rent growth for a new investor who is looking for stable returns and long-term growth potential.

FOR SALE DETAILS

PRICE

$2,950,000 USD

PRICE/SF

$526 USD /SF

# OF UNITS

5

PRICE/UNIT

$590,000

CAP RATE

5.74%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

5 Unit in Venice | 5.74% Cap Rate & 11.67 GRM

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1964

PARKING SPACES

4

LAND DETAILS

LAND ACRES

0.13 AC

LAND SF

5,667 SF

ZONING

LARD1 5

APN/PARCEL ID

4240-013-004

ASK ABOUT THIS PROPERTY

Sean RosenzweigMarcus & MillichapMore Info
213-943-1897

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Sean RosenzweigMarcus & MillichapMore Info
213-943-1897

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.