2700 Abbot Kinney Boulevard

Venice, CA 90291

$6,995,000
Price
24
Beds
15
Baths
11,180 Sq. Ft.
$626 / Sq. Ft.
11,180
Sq. Ft.
$626
per Sq. Ft.

Description

Huge price reduction! We are pleased to offer for sale an incredible multifamily asset at 2700 Abbot Kinney Blvd. in the heart of LA's famed beach city of Venice. Originally built in 1959, the building boasts an incredibly rare unit mix consisting of 1 and 2 bedroom units. Each of these units are spacious and have a terrific floor plan. The property is situated on a large corner lot; thus, all units offer an abundance of natural light. There is HUGE rental upside, as current rents hover around $2.93/SF....Huge price reduction! We are pleased to offer for sale an incredible multifamily asset at 2700 Abbot Kinney Blvd. in the heart of LA's famed beach city of Venice. Originally built in 1959, the building boasts an incredibly rare unit mix consisting of 1 and 2 bedroom units. Each of these units are spacious and have a terrific floor plan. The property is situated on a large corner lot; thus, all units offer an abundance of natural light. There is HUGE rental upside, as current rents hover around $2.93/SF. Additionally, there is parking for all units as well as an on-site laundry facility. All units look out to a serene and beautifully landscaped courtyard, and residents enjoy being walking distance to the Venice Boardwalk and the beach. This is a fantastic trophy asset in an undeniably attractive location that will surely pay long-term dividends to a savvy investor. A walker's paradise, this rare offering presents an astute investor with the unique opportunity to capitalize on higher market rents and to acquire a premier turnkey asset in one of the best rental locations in all of Los Angeles.
  1. Listed by Jonathan Taksa • DRE #01366169 • Brokerage DRE #01164364 • Remax Commercial and Investment Realty

Property Details for 2700 Abbot Kinney Boulevard

Zoning
LAR3
Parcel Number
4237021005
Total Units
15.0
Living Area
11180
Source Living Area
Vendor Enhanced
Area
Venice (C11)
Vacancy Rate
3%
Lot Size Area
14073
LISTING UPDATED: 12/04/2024 02:22 PM

Property Details for 2700 Abbot Kinney Boulevard

StatusActive
MLS #24-424311
Days on Market138
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1959
Lot Size0.32 AC / 14,073 SF
CountyLos Angeles County

Building Information for 2700 Abbot Kinney Boulevard

Stories2Residences-Year Built1959Building Size-Lot Size0.32 AC / 14,073 SF

Property Information for 2700 Abbot Kinney Boulevard

Community / Development
Community / Development
  • Number Of Units: 15
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Vendor Enhanced
  • Number Of Stories: 2
  • Number Of Buildings: 1
  • Type Of Units: 2s,1s
Contract Info
Contract Info
  • Disclosures: As Is
  • Listing Type: Exclusive Agency
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Scheduled
  • Gross Operating Income: $381,168
  • Net Operating Income: $221,041.00
  • Gross Income: $378,072
  • Gross Rent Multiplier: $18.35
  • Total Annual Expense: 148784
Land / Lot Info
Land / Lot Info
  • Additional Parcel Number: No
  • Lot Acreage: 0.3231
  • Lot Size Square Feet: 14073
Parking Details
Parking Details
  • Parking Garage: Assigned
  • Total Parking: 15
  • Parking Features: Assigned
Interior Features
Interior Features
  • Levels: One
  • Cooling: Wall/Window Unit(s)
  • Cooling Type: Wall/Window
  • Heating: Wall Furnace
  • Heating Type: Wall
  • Equipment: None
Exterior Features
Exterior Features
  • New Construction: No
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 08-06-2024
  • Rent Control: 100
Unit Details
Unit 1 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $2,185.00
  • Unit Actual Rent: $19,662.00
  • Unit Projected Rent: $30,555.00
  • Like Units: 9
Unit 2 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,974.00
  • Unit Actual Rent: $11,844.00
  • Unit Projected Rent: $16,170.00
  • Like Units: 6
Unit Details
  • Unit Type Type: 2106, 2107
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $1,840,605.00
  • Assessed Improvement Percent: 29.2
  • Assessed Land Value: $4,462,075.00
  • Assessed Land Percent: 70.8
  • Assessed Total Value: $6,302,680.00

Property History for 2700 Abbot Kinney Boulevard

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

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

Public Records for 2700 Abbot Kinney Boulevard

Taxable ValueLand$4,551,316Additions$1,880,667Total$6,431,983
Tax Record2024$78,873 ($6,573 / month)
Home Facts
Total Finished SqFt11,180 SqFtAbove Grade Finished SqFt11,180 SqFtLot Size14,069 SqFtStyleMulti-Family Res (5+ Units)Year Built1959ZoningLAR3CountyLOS ANGELESAPN4237-021-005

Schools near 2700 Abbot Kinney Boulevard

This home is within Los Angeles Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - 6 to 8
Public - 9 to 12
Charter - 9 to 12
Rating
School
Distance
Coeur D'Alene Avenue Elementary School
PublicK to 5

Venice Senior High School
Public9 to 12

Animo Venice Charter High School
Charter9 to 12

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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2700 Abbot Kinney Boulevard is a multi-family home for sale in Venice, CA 90291. This property was listed for sale on August 6, 2024 by Remax Commercial and Investment Realty, it's currently listed at $6,995,000. It has been on the market for a total of 138 days and was last sold on July 13, 2016. This listing's school district is Los Angeles Unified School District. Nearby schools include Coeur D'Alene Avenue Elementary School, Mark Twain Middle School and World Languages Magnet and Venice Senior High School. 2700 Abbot Kinney Boulevard is a 24-bed, 15-bath, 11,180 sqft multi-family home built in 1959.

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 Remax Commercial and Investment Realty, Jonathan Taksa, DRE #01366169

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.