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2602 Pacific Ave 4 Unit Apartment Building $3,765,375 CAD ($941,344 CAD/Unit) 3.49% Cap Rate Venice, CA 90291
Investment Highlights
- Walking distance to Venice Beach and the Pacific Ocean.
- Six on-site parking spaces provide valuable off-street parking accommodations.
- Renovated units feature updated finishes and modern appliances.
Executive Summary
Amazing opportunity for both investors and owner-users! Nestled just moments from the beach - this unique investment property combines SoCal coastal charm with its prime location, and potential to add even more value. 2 of the units (2 bedroom + studio ) have recently been tastefully remodeled with top of the line materials and appliances. Both of these units are currently rented out for short term rentals , but also could be a great possibility to become an owner user unit in the future. New roof, appliances and water heater. Newly upgraded plumbing throughout. 6 carport parking spaces. Laundry room. Superior Venice location, adjacent to the canals . Close proximity to Abbot Kinney, Rose Avenue , acclaimed restaurants, boutique shopping, as well as the area's thriving creative and tech communities. The possibilities here are abundant. With strong underlying land value, a coveted Westside location, and enduring buyer demand, this property represents not only a wonderful place to live, but also a smart investment with significant future potential. **Broker/agents do not guarantee the accuracy of square footage, lot size, or other information concerning the condition or features of property provided by the seller or obtained from public records.**
Property Facts
| Price | $3,765,375 CAD | Building Class | B |
| Price Per Unit | $941,344 CAD | Lot Size | 0.06 AC |
| Sale Type | Investment | Building Size | 3,344 SF |
| Cap Rate | 3.49% | Average Occupancy | 50% |
| No. Units | 4 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1971 |
| Property Subtype | Apartment | Parking Ratio | 1.79/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | RD1.5-1-O - RD1.5-1-O zoning allows multifamily residential use in Venice, offering potential renovation or redevelopment opportunities subject to City approvals. | ||
| Price | $3,765,375 CAD |
| Price Per Unit | $941,344 CAD |
| Sale Type | Investment |
| Cap Rate | 3.49% |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 0.06 AC |
| Building Size | 3,344 SF |
| Average Occupancy | 50% |
| No. Stories | 2 |
| Year Built | 1971 |
| Parking Ratio | 1.79/1,000 SF |
| Zoning | RD1.5-1-O - RD1.5-1-O zoning allows multifamily residential use in Venice, offering potential renovation or redevelopment opportunities subject to City approvals. |
Amenities
Site Amenities
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+2 | 2 | - | - |
| Studios | 2 | - | - |
1 1
Moderately walkable
60/100
Moderately drivable
70/100
Good public transit
60/100
Exceptionally bikeable
90/100
Property Taxes
| Parcel Numbers | Improvements Assessment | $657,286 CAD | |
| Land Assessment | $519,034 CAD | Total Assessment | $1,176,320 CAD |
Property Taxes
Parcel Numbers
Land Assessment
$519,034 CAD
Improvements Assessment
$657,286 CAD
Total Assessment
$1,176,320 CAD
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2602 Pacific Ave
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