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23 19th Ave 6 Unit Apartment Building $2,777,160 CAD ($462,860 CAD/Unit) 6.12% Cap Rate Venice, CA 90291
Investment Highlights
- Located steps to the sand on a Walk Street
- Copper plumbing, updated electrical panel and earthquake retrofitted
- 6.12 CAP RATE
- Close Venice Boardwalk, Santa Monica Pier and Muscle Beach
Executive Summary
Charming 6 - unit investment property in the heart of Venice on a "Walk-Street", just steps to the sand. The property features 2 -Singles, 2 Junior 1 bd + 1ba with a sun porch, 1 - 1bd+1ba and 1 - 2bd+1ba units. Long term owner (over 50 years) with below market rents. The building has copper plumbing. Two of the units (units 2 & 4) have been completely remodeled. Two other units (units 3 & 5) have been partially remodeled including hardwood floors. Master metered for electricity. Individually metered for gas. The electrical panel has been replaced. However, the seller pays the gas for the tenants. The are 4 parking spots. The owner collects $150/mo. for parking from units 1, 3 and 6. The building was earthquake retrofitted in 1994. You can't beat the location, close to the Venice Boardwalk, Santa Monica Pier and Muscle Beach.
Financial Summary (Actual - 2025) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$234,033
|
$84.64
|
| Other Income |
$7,517
|
$2.72
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$241,550
|
$87.36
|
| Taxes |
$33,326
|
$12.05
|
| Operating Expenses |
$38,148
|
$13.80
|
| Total Expenses |
$71,474
|
$25.85
|
| Net Operating Income |
$170,076
|
$61.51
|
Financial Summary (Actual - 2025)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $234,033 |
| Annual Per SF | $84.64 |
| Other Income (CAD) | |
|---|---|
| Annual | $7,517 |
| Annual Per SF | $2.72 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $241,550 |
| Annual Per SF | $87.36 |
| Taxes (CAD) | |
|---|---|
| Annual | $33,326 |
| Annual Per SF | $12.05 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $38,148 |
| Annual Per SF | $13.80 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $71,474 |
| Annual Per SF | $25.85 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $170,076 |
| Annual Per SF | $61.51 |
Property Facts
| Price | $2,777,160 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $462,860 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.06 AC |
| Cap Rate | 6.12% | Building Size | 2,765 SF |
| Gross Rent Multiplier | 11.49 | Average Occupancy | 100% |
| No. Units | 6 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1908 |
| Property Subtype | Apartment | Parking Ratio | 1.45/1,000 SF |
| Zoning | LAR3 | ||
| Price | $2,777,160 CAD |
| Price Per Unit | $462,860 CAD |
| Sale Type | Investment |
| Cap Rate | 6.12% |
| Gross Rent Multiplier | 11.49 |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.06 AC |
| Building Size | 2,765 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1908 |
| Parking Ratio | 1.45/1,000 SF |
| Zoning | LAR3 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 4 | $2,638 CAD | 350 |
| 1+1 | 1 | $2,968 CAD | 450 |
| 2+1 | 1 | $5,034 CAD | 700 |
1 1
Very walkable
80/100
Moderately drivable
60/100
Good public transit
70/100
Exceptionally bikeable
90/100
Property Taxes
| Parcel Number | 4226-011-013 | Total Assessment | $380,361 CAD |
| Land Assessment | $253,702 CAD | Annual Taxes | $33,326 CAD ($12.05 CAD/SF) |
| Improvements Assessment | $126,659 CAD | Tax Year | 2025 |
Property Taxes
Parcel Number
4226-011-013
Land Assessment
$253,702 CAD
Improvements Assessment
$126,659 CAD
Total Assessment
$380,361 CAD
Annual Taxes
$33,326 CAD ($12.05 CAD/SF)
Tax Year
2025
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