Property Details

Price $5,850,000

Year Built 1922

# of Units 6

Price P/ Unit $975,000

Sq. ft. 4,826

Price p/ Sq. ft. $1,212

Current Cap Rate 4.12%

Proforma Cap Rate 4.25%

Lot Size 12,008 SF

Zoning LAR2

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About the Property

The Villas of Venice are an eclectic collection of 6 masterfully Craftsman bungalows built in 1906 & 1922 and completely restored to their original charm. Set on an idyllic resort-like lot, creating a private hideaway yet located steps from Venice Beach and Abbot Kinney Blvd. Each bungalow was masterfully restored to showcase classic Craftsman bungalow architecture while adding a fun eclectic design twist. Classic Hollywood Golden era accents including deep green colored cabinets, brass hardware, and a Hollywood Regency style chandelier add a true retro glamour factor to one of the restored kitchens. The extensive use of subway tiles in kitchens and baths creates a retro vibe for today. Breakfast nooks and window seats make these the perfect casual beach bungalows. Each bright and spacious unit features hardwood floors, exposed beams, and ornate detailing in the kitchen and bathroom. Unit interiors include stainless steel appliances, central A/C, and heat, and in-unit washer and dryer. Shared outdoor living space creates community here.

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