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728 Vernon Avenue

Venice, CA 90291
  • $2,899,000
  • STATUS: Active Under Contract
  • ON SITE: 62 Days
  • ID#: SR24075666
Under Contract
$2,899,000
  • 0
    BEDS
  • 0.11
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
Built:
1952
County:
Area:

School Ratings & Info

Listing Agent(s): Salar Farshchi Tabrizi of Equity Union (818-989-2000) and Demetra Kalivas-Rees of Equity Union(818-989-2000)


Description

VACANT REMODELED 4PLEX WEST OF LINCOLN with RTI Permits to build a new single family house- Conveniently located in Venice Beach California, one of the highest-demand rental markets in the country. The front unit is a 2 bedroom & 1 bathroom single family residence with RTI permits to build a bigger house on it. Additionally, there are 3 fully remodeled, 1 bedroom, 1 bathroom units in the back. All 3 back units have been fully remodeled; New plumbing, new electrical, new HVAC, new doors & windows, new smooth stucco, new flooring, new appliances, separate laundry for each unit etc. This fully gated income property is once in a lifetime investment opportunity that provides its owner with many options. Back units being fully remodeled, having both front & back alley access with dedicated garage space in the back for all 3 back units make this property a truly unique investment opportunity. You can enjoy the rental cashflow from back units while building your dream house in the front at the same time. Alternatively, you can rent all 4 units for top dollar. All 4 units have their own laundry. This is an extremely rare opportunity for an investor to acquire a 100% vacant building with RD1.5 Zoning. Moments from Abbot Kinney, beach, Rose, and everything else Venice has to offer. ALL UNITS WILL BE DELIVERED VACANT WITH RTI PERMITS TO BUILD A NEW SINGLE FAMILY HOUSE ON THE FRONT UNIT AT CLOSE OF ESCROW!

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Based on information from California Regional Multiple Listing Service, Inc. as of 2024-06-22T00:30:40.207. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Mainstreet Realtors®. Licensed in the State of California, USA.
www.mainstreetgroup.com/homes/149545290
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728 Vernon Avenue Venice, CA 90291

  • Price: $2,899,000
  • Status: Active Under Contract
  • On Site: 62 Days
  • ID#: SR24075666
0
Beds
0
Baths
0
½ Baths
0.11
Acres
1952
Built
Neighborhood:
C11 - Venice
County:
Los Angeles
Area:
C11 - Venice
Property Description
VACANT REMODELED 4PLEX WEST OF LINCOLN with RTI Permits to build a new single family house- Conveniently located in Venice Beach California, one of the highest-demand rental markets in the country. The front unit is a 2 bedroom & 1 bathroom single family residence with RTI permits to build a bigger house on it. Additionally, there are 3 fully remodeled, 1 bedroom, 1 bathroom units in the back. All 3 back units have been fully remodeled; New plumbing, new electrical, new HVAC, new doors & windows, new smooth stucco, new flooring, new appliances, separate laundry for each unit etc. This fully gated income property is once in a lifetime investment opportunity that provides its owner with many options. Back units being fully remodeled, having both front & back alley access with dedicated garage space in the back for all 3 back units make this property a truly unique investment opportunity. You can enjoy the rental cashflow from back units while building your dream house in the front at the same time. Alternatively, you can rent all 4 units for top dollar. All 4 units have their own laundry. This is an extremely rare opportunity for an investor to acquire a 100% vacant building with RD1.5 Zoning. Moments from Abbot Kinney, beach, Rose, and everything else Venice has to offer. ALL UNITS WILL BE DELIVERED VACANT WITH RTI PERMITS TO BUILD A NEW SINGLE FAMILY HOUSE ON THE FRONT UNIT AT CLOSE OF ESCROW!
Exterior Features

Architectural Style Other Carport Spaces 0 Construction Materials Drywall Entry Level 0 Entry Location Street Fencing PrivacyWood Foundation Details Slab Lot Features Rectangular Lot Number Of Separate Electric Meters 1 Open Parking Spaces 0 Parking Total 3 Pool Features None Pool Private YN No Property Attached YN No Road Frontage Type City Street Road Surface Type Paved Roof AsphaltShingle Spa Features None Spa YN No View None View YN No

Interior Features

Accessibility Features None Appliances DishwasherGas RangeMicrowaveRefrigeratorRange HoodWater HeaterDryerWasher Common Walls No Common Walls Cooling Central AirWall/Window Unit(s) Cooling YN Yes Fireplace Features None Fireplace YN No Flooring Vinyl Heating Central Heating YN Yes Interior Features FurnishedQuartz CountersRecessed Lighting Window Features Double Pane Windows

Property Features

Additional Parcels YN No Association Fee 0 Association YN No Common Interest None Community Features CurbsSidewalksUrban Contingency DO NOT go direct. DO NOT disturb tenants. Call listing agentSal Tabrizi @ (310) 554-8555 to schedule a showing and for access. Electric Standard Electric Expense 0 Fuel Expense 0 Garage YN Yes Gross Income 149575 Gross Scheduled Income 174000 Insurance Expense 0 Land Lease YN No Levels Two Listing Agreement Exclusive Right To Sell Listing Service Full Service Listing Terms CashCash to New LoanConventional Net Operating Income 141000 New Construction YN No Number Of Separate Gas Meters 1 Number Of Separate Water Meters 1 Operating Expense 0 Property Condition Updated/Remodeled Property Sub Type Quadruplex Rent Control YN Yes Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Trash Expense 0 Utilities Electricity ConnectedSewer ConnectedWater Connected Water Sewer Expense 0 Water Source Public Zoning LARD1.5



Based on information from California Regional Multiple Listing Service, Inc. as of 2024-06-22T00:30:40.207. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Mainstreet Realtors®. Licensed in the State of California, USA.
 
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Mainstreet Realtors®
10300 Fourth St. Ste 100
Rancho Cucamonga CA, 91730
Listing Agent(s): Salar Farshchi Tabrizi of Equity Union (818-989-2000) and Demetra Kalivas-Rees of Equity Union(818-989-2000)