Under Contract

214 Market St

Venice CA, 90291

$1,750,000


$682.53 per sqft

Under Contract

4 Baths

2,564 sqft

Multi-family

Built in 1910

Amazing opportunity to acquire a turnkey high-vacancy bread-and-butter Venice Beach fourplex on a corner street-to-alley lot less than 1/4 mile from the sand. Located in a vibrant and robust rental market fully immersed in one of the highest concentrations of tech and creative residents of Silicon Beach, this location is poised to command consistent and growing cash flows for the foreseeable future and beyond. Perfect for an investor looking to park money in an insulated trophy location, the property itself houses four spacious one-bedroom units that have consistently produced market rents (and that enjoy turnover just often enough to stay on pace with submarket rent growth), and bolster the bottom line with additional parking income to boot. Adjacent to a swathe of luxury residential homes and just a hop-skip away from Abbot Kinney (literally crowned "the coolest block in America" in GQ's Style Bible), this building also presents an opportunity for an owner-occupant to subsidize mortgage payments with rents while waxing inspiration in the buzzing cultural mecca that is Venice. Just a stone's throw to Rose Corridor and Main Street, just blocks to the sand, and billed as both a Walker's and Biker's Paradise, positively everything is within reach. Less than a mile from Marina del Rey, just two miles from Santa Monica, this building also enjoys easy access to the rest of the Westside Los Angeles via nearby Highway 1, 10 and 405 freeways, and access to the rest of the world via nearby LAX Airport. Located in a Tier 3 TOC Zone, the location may provide certain incentives for a developer looking to build something with a bigger footprint.

24-405009

MLS ID

June 18, 2024

Listed

July 13, 2024

Updated

Map

214 Market St
Venice CA, 90291

Interior Features

Total Stories

2


Total Bathrooms

4


Appliances

Range/Oven, Refrigerator


Fireplace

No


Fireplace Description

None


Cooling

Yes


Cooling Description

Window Unit(s)


Heating

Yes


Heating Description

Wall Gas

Exterior/Building Features

Lot Size

0.05 Acres


Lot Features

Alley Paved, Front Yard, Street Paved, Street Lighting, Single Lot, Sidewalks


Architectual Style

Craftsman


Roof

Shingle

Other Property Details

Area Name

Venice


Days on Market

22


Garage

No


Parking

Side By Side


Parking Total

2


View

No


County

Los Angeles


Water Source

Public


Pool

No


Pool Features

None


Zoning

LARD1.5

Listing History

Date

Event

Price

7/11/2024

Under Contract

Listed by Vivian Chaing with Property Concierge
Listing Contact: 310-463-5181 

Based on information from The MLSTM / Combined LA/Westside Multiple Listing Service, Inc. IDX information is provided exclusively for consumers' personal, non-commercial use, it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All information is deemed reliable but not guaranteed and should be independently reviewed and verified. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. All properties are subject to prior sale, change or withdrawal, and may or may not be listed by the office/agent presenting the information. Neither listing broker(s) nor True Story Realty shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. 

©2024 Combined L.A./Westside MLS. All rights reserved.

Data last updated 7/13/2024

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