Property Details

Price $9,750,000

Year Built 1964

# of Units 15

Price P/ Unit $650,000

Sq. ft. 11,958 SF

Price p/ Sq. ft. $815

Current Cap Rate 3.42%

Proforma Cap Rate 5.22%

Lot Size 11,528 SF

Zoning LAR4

About the Property

354 4th Avenue is a modern and tastefully renovated 15-unit courtyard complex located a short walk from Venice Beach and Abbot Kinney. Residing 1 block south of Rose Ave. and 2 blocks east of Main St, this investment property’s strategic location offers the quintessential SoCal lifestyle, located near an array of highly-acclaimed entertainment/dining options and convenient access to employment hubs throughout Silicon Beach. In addition to an attractive location in a premier beachside rental market, this value-add property offers approx. 33% rental upside based on renovated units in the building. Please note, 10 of the 15 units have been tastefully renovated to include quartz countertops, an LED lighting package, copper plumbing, new wiring and panels, and a black window package.

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