19 Wavecrest Ave, Venice, CA 90291
10 Unit Apartment Building | $5,500,000 ($550,000/Unit) | 5.58% Cap Rate | Venice, CA 90291
For Sale
Active
- Date Added:
- September 16, 2024
- Days on Market:
- 7 days
Asking Price $5,500,000
- Property Type
-
Multifamily
- Square Feet
- 7,281 SF
Listing Contacts
Cameron Samimi
Verified Profile
- Property Info
Property Overview
19 Wavecrest Ave Apartments is a 10-unit apartment community located 130+ feet from the Venice Boardwalk and beach. Residents enjoy the benefits of living in the heart of venice as he property is in close proximity to Abbot Kinney, Santa Monica Pier, and much more. 19 Wavecrest Ave offers (7) one-bedroom apartments each measuring approximately 650 square feet, (2) two bedroom/one bath apartments each measuring approximately 815 square feet, and (1) two bedroom-two bath Penthouse unit measuring approximately 1,100 square feet. The penthouse unit features a jacuzzi, rooftop deck, and has views of the Pacific Ocean and entire city of Los Angeles. Potential to have (5) units delivered vacant at the close of escrow, with the penthouse unit having potential to be leased back at market rate. Units feature ocean views, Spanish tiling, and private patios. There is laundry on site.
Property Details
- Class
- C
- Year Built
- 1912
- Stories
- 4
- Lot Size (sq. ft)
- 2,614 SF
- Units
- 10
Highlights
- Amazing Venice Location-Steps to the Boardwalk
- Impressive Unit Mix-7 One Bedrooms and 3 Two's
- Vacancy-Potential to Deliver as Many as 5 Vacancies at the Close
- Impressive Upgrades-Several Units with Impressive Renovations
- Priced to Sell at a 5.58% Cap Rate & 11.91 GRM on Current Income
Nearby Properties
Similar Properties
FAQ
- How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?
- Please email our support team at [email protected] and they will add the team member.
- How do I access a private listing?
- Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
- How can I contact the broker
- We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
- What is the difference between Tier 1 & Tier 2 in the Due Diligence Vault?
- Documents that are placed in a Tier-1 Due Diligence vault require the execution of a Confidentiality Agreement (“CA”) for access. Documents and folders placed in the Tier-2 vault are intended to have an added layer of security and require the execution of a CA in addition to required Broker approval for access.
- How do I unsubscribe from emails?
- At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].