2422 Venice Blvd.

Los Angeles, CA 90019

$2,000,000
Price
—
Beds
5
Baths
4,716 Sq. Ft.
$424 / Sq. Ft.
4,716
Sq. Ft.
$424
per Sq. Ft.

Description

2422 Venice Blvd is a 14 unit apartment building located in the Mid-City Submarket of Los Angeles. Located west of Western Ave, in between Gramercy and St Andrews. Built in 1913, the property consists of (13) SRO units and (1) Bachelor unit. Delivered with 9 vacant units. The property includes 4 recently renovated shared bathrooms totaling 7 toilets and 5 showers, on-site gated parking for 5 cars in the rear, on-site laundry, a recently renovated shared kitchen space, and a new roof. The subject...2422 Venice Blvd is a 14 unit apartment building located in the Mid-City Submarket of Los Angeles. Located west of Western Ave, in between Gramercy and St Andrews. Built in 1913, the property consists of (13) SRO units and (1) Bachelor unit. Delivered with 9 vacant units. The property includes 4 recently renovated shared bathrooms totaling 7 toilets and 5 showers, on-site gated parking for 5 cars in the rear, on-site laundry, a recently renovated shared kitchen space, and a new roof. The subject property sits on a 6,006 sf lot zoned LAR3. The investment is offered at a very attractive cap rate and GRM with significant upside in rents. This property covers for a $1,400,000 loan at an 8.5% IO rate for 24 months. This along with the significant amenities for an SRO property make this an attractive opportunity for an investor.
  1. Listed by William James • DRE #01734419 • Brokerage DRE #01399621 • Lyon Stahl Investment Real Estate, Inc.
  2. Listed by Peter James • DRE #01748556 • Brokerage DRE #01399621 • Lyon Stahl Investment Real Estate, Inc.

Property Details for 2422 Venice Blvd.

Water Front
None
Zoning
LAR3
Style
Mid-Century
Cross Streets
Venice Blvd & St. Andrews
Parcel Number
5073015001
Total Units
14.0
Living Area
4716
Source Living Area
Title Company
LISTING UPDATED: 06/25/2024 12:01 AM

Property Details for 2422 Venice Blvd.

StatusActive
MLS #24-404755
Days on Market153
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1913
Lot Size0.14 AC / 6,008 SF
CountyLos Angeles County

Building Information for 2422 Venice Blvd.

Stories2Residences-Year Built1913Building Size-Lot Size0.14 AC / 6,008 SF

Property Information for 2422 Venice Blvd.

Community / Development
Community / Development
  • Number Of Units: 14
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Vendor Enhanced
  • Number Of Stories: 2
  • Number Of Buildings: 1
  • Type Of Units: SRO
  • View: Yes
  • View Description: City
  • View: City Lights
  • Entry Floor Number: 1
  • Security Features: Automatic Gate, Carbon Monoxide Detector(s), Smoke Detector, Gated, Window Bars, Exterior Security Lights
  • Direction Faces: North
  • Property Condition: Updated/Remodeled
  • Water: Public
  • Sewer: In Street
  • Water Heaters: Yes
Contract Info
Contract Info
  • Probate: No
  • Financing: Cash To New Loan
  • Disclosures: None
  • Listing Type: Exclusive Right To Sell
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Scheduled
  • Gross Operating Income: $194,738
  • Net Operating Income: $123,893.00
  • Gross Income: $193,738
  • Cap Rate: 6.19%
  • Gross Rent Multiplier: $10.32
  • Actual Annual Gross Rent: $193,738.00
  • Actual Rent Total: $193,738.00
  • Financial Info as Of: 06/17/2024
  • Vacancy Allow Dollar: $5,842.00
  • Vacancy Allow Percent: 3.00%
  • Owner Pays: Water, Gas, Electricity
  • Total Annual Expense: 65003
Land / Lot Info
Land / Lot Info
  • Land Lease Type: Fee
  • Land Lease: No
  • Additional Parcel Number: No
  • Alley: No
  • Lot Acreage: 0.1379
  • Lot Size Square Feet: 6008
Parking Details
Parking Details
  • Parking Garage: Carport
  • Total Parking: 5
  • Covered Parking: 0
  • Open Other Spaces Total: 5
  • Garage Spaces Total: 0
  • Carport Spaces Total: 5
  • Parking Features: Carport
  • Garage Structures Total: 0.0
Interior Features
Interior Features
  • Levels: Multi/Split
  • Cooling: Wall/Window Unit(s)
  • Cooling Type: Wall/Window
  • Heating: Wall Furnace
  • Heating Type: Wall
  • Equipment: Range/Oven, Refrigerator, Garbage Disposal, Washer, Dryer, Dishwasher
  • Common Walls: Attached
  • Laundry: Community
  • Laundry Equipment: Own
Exterior Features
Exterior Features
  • Pool: No
  • Private Pool: No
  • Pool Description: None
  • Pool Features: None
  • Spa: No
  • Spa: None
  • Tennis: No
  • Tennis Court: None
  • Roof: Composition, Shingle
  • Entry Location: Foyer
  • New Construction: No
  • Construction Materials: Stucco
  • Exterior Construction: Stucco
  • Other Structural Features: Balcony
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 06-17-2024
  • Rent Control: Yes
Unit Details
Unit 1 Information
  • Unit Beds: 0
  • Unit Baths: 0
  • Unit Furnished: No
  • Unit Rent: $1,250.00
  • Unit Actual Rent: $14,645.00
  • Unit Projected Rent: $16,250.00
  • Like Units: 13
Unit 2 Information
  • Unit Beds: 0
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,500.00
  • Unit Actual Rent: $1,500.00
  • Unit Projected Rent: $1,500.00
  • Like Units: 1
Unit Details
  • Unit Type Type: 2106, 2107
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $578,147.00
  • Assessed Improvement Percent: 29.73
  • Assessed Land Value: $1,366,531.00
  • Assessed Land Percent: 70.27
  • Assessed Total Value: $1,944,678.00

Property History for 2422 Venice Blvd.

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 2422 Venice Blvd.

Taxable ValueLand$1,393,861Additions$589,709Total$1,983,570
Tax Record2024$24,590 ($2,049 / month)
Home Facts
Total Finished SqFt4,716 SqFtAbove Grade Finished SqFt4,716 SqFtLot Size6,006 SqFtStyleMulti-Family Res (5+ Units)Year Built1913ZoningLAR3CountyLOS ANGELESAPN5073-015-001

Schools near 2422 Venice Blvd.

This home is within Los Angeles Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 4
Public - K to 5
Charter - 5 to 8
Public - 6 to 8
Rating
School
Distance
Twenty-Fourth Street Elementary School
PublicK to 4

Crown Preparatory Academy
Charter5 to 8

Pio Pico Middle School
Public6 to 8

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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2422 Venice Blvd. is a multi-family home for sale in Los Angeles, CA 90019. This property was listed for sale on June 17, 2024 by Lyon Stahl Investment Real Estate, Inc., it's currently listed at $2,000,000. It has been on the market for a total of 153 days and was last sold on July 15, 2019. This listing's school district is Los Angeles Unified School District. Nearby schools include Twenty-Fourth Street Elementary School, Carson-Gore Academy Of Enviornmental Studies and Crown Preparatory Academy. 2422 Venice Blvd. is a 0-bed, 5-bath, 4,716 sqft multi-family home built in 1913.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Lyon Stahl Investment Real Estate, Inc., William James, DRE #01734419; Lyon Stahl Investment Real Estate, Inc., Peter James, DRE #01748556

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.