Description
Situated in the heart of Venice, 1034 Pleasantview Ave presents the opportunity to acquire a well-maintained three-unit multifamily property in one of Los Angeles' most desirable coastal neighborhoods. Built in 1987, the property consists of three spacious 3-bedroom, 2-bathroom units totaling 3,720 square feet on a 4,634 square foot lot. The property's larger floor plans and newer construction provide a highly desirable housing option in a market where demand for quality rental housing remains strong. Offered at a 4.76% Current CAP Rate and 14.59 Current GRM, the property presents investors with the opportunity to acquire a well-located 1980s-constructed asset that is not subject to Los Angeles City Rent Control (only AB 1482 Statewide Rent Control). The property offers strong long-term income growth potential, achieving a projected 8.22% Pro Forma CAP Rate and 9.60 Pro Forma GRM. Recent capital improvements further enhance the property's appeal, including Hardie Board exterior siding, dual-pane windows, and a new roof installed in 2022. Additional amenities include in-unit laundry in all three units and gated carport parking with six total parking spaces. Built in 1987, the property offers a newer construction profile than much of the surrounding multifamily inventory, contributing to its long-term appeal and operational efficiency. Conveniently located just moments from Abbot Kinney Boulevard, Rose Avenue, Venice Beach, and major Westside employment centers, this offering presents an attractive opportunity to acquire a well-positioned multifamily investment in one of Southern California's most sought-after rental markets.
Details
| MLS # | SB26159060 |
|---|---|
| Listing Type | For Sale |
| Style | Triplex |
| Sub-Type | Resale |
| Status | Active |
| Year | 1987 |
| Days On Site | 47 |
| Listing Provided By | Lyon Stahl Investment Real Estate, Inc. | Brett Lyon |
Features
| Bed(s) | 9 |
|---|---|
| Bath(s) | 6 Total |
| SQ Feet | 3,720 |
| Story(s) | 2 |
| Units | 3 |
| Acreage | 0.11 |
| Property View | None |
Interior
| Cooling | None |
|---|---|
| Cooling Yes / No | No |
| Fireplace Yes / No | No |
Exterior
| Lot Features | Two To Five Units Acre |
|---|
Parking
| Garage Yes / No | No |
|---|
Utilities
| Sewer | Public Sewer |
|---|
Location
| Community Features | Biking |
|---|
Area Information
| State | CA |
|---|---|
| County | Los Angeles |
| City | Venice |
| Zip Code | 90291 |
| Area | C11 Venice |
| Listing VS Median (in 90291) | |
Price: $1,900,000 low | high Med: $2,472,500 sqft: 3,720 low | high Med: 3,738 $ / sqft: $511 low | high Med: $694 On site: 47 low | high Med: 255 | |
Market Activity 90291
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Learn More About This Property
| State | CA |
|---|---|
| County | Los Angeles |
| City | Venice |
| Zip Code | 90291 |
| Area | C11 Venice |
| Listing VS Median (in 90291) | |
Price: $1,900,000 low | high Med: $2,472,500 sqft: 3,720 low | high Med: 3,738 $ / sqft: $511 low | high Med: $694 On site: 47 low | high Med: 255 | |
 | $1,900,0001034 PleasantviewVenice, CA 90291 |