2616 Abbot Kinney blvd, Venice, CA 90291
Active
$1,949,999
3%
1 Units
2 Beds
2 Baths
1,283 Area(sq.ft.)
Lot: 4,593 Lot Size(sq.ft.)
| Type | # of Units | Bedroom | Bath | Furnished | Rent | Actual Rent | Projected Rent |
|---|---|---|---|---|---|---|---|
| Unit 1 | 1 | 2 | 2 | No | $ 8,500 | $ 8,500 | $ 8,500 |
| 1 | 2 | 2 | $ 8,500 | $ 8,500 | $ 8,500 |
| MLS #: | 25511457 |
| Days On Market: | 319 |
| Listing Date: | March 21, 2025 |
| County: | Los Angeles |
| Property Type: | Residential Income |
| Price per ft2: | $ 1,520 |
| Price per unit: | $ 1,949,999 |
| Year Built: | 1914 |
Property Details
Incredible investment and income producing bungalow with immediate income over 4% on the iconic Abbot Kinney Blvd, where modern luxury meets coastal charm. This 2-bedroom, 2-bathroom gem offers 1,283 sqft of meticulously upgraded living space. Every inch of this home was reimagined in 2023, featuring a brand-new kitchen, completely renovated bathrooms, an additional bathroom, new landscaping, exterior enhancements, updated electrical and plumbing systems, a new HVAC, and a new roof. The inviting interior boasts a stylish decorative fireplace, providing a cozy focal point for the living area. Outside, the property includes not only a backyard but also a 60 ft front yard and three private, coveted parking spaces. Also ideal for future developers, this property includes potential RTI plans for an impressive modern 3-story home. The design build promises 6,470 sqft of luxury living, with 5 bedrooms, 6.5 bathrooms, and an attached 1,200 sqft ADU. The ADU features 1 bedroom, 2 bathrooms, an office, and its own separate address. Situated close to Abbot Kinney's shops and renowned restaurants, this property offers diversity to own, live/work, or develop a multi-family residence in the center of Venice's vibrant lifestyle. Don't miss out on this exceptional property! The property is tenant occupied.Interested in this Listing?
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Income Details
| Gross Operating Income: | $ 102,000 |
| Total Annual Expense: | $ 27,589 |
| Net Operating Income: | $ 74,410 |
| Gross Annual Income: | $ 102,000 |
| Cap Rate: | 3.7% |
| Gross Rent Multiplier: | 19.61 |
Structure
| Type of Units: | 1 |
| Buildings: | 1 |
| Levels: | One |
| Style: | Bungalow |
| Sewer: | In Street |
| View Description: | Walk Street |
Land & Parking
| Zoning: | LAR3 |
| Parking Garage: | Uncovered |
Interior
| Cooking Appliances: | Oven-Gas, Cooktop - Gas |
| AC/Cooling: | Central |
| Equipment: | Dishwasher, Dryer, Freezer, Ice Maker, Garbage Disposal, Water Filter, Washer, Range/Oven, Refrigerator |
| Heating: | Central |
| Fireplace Rooms: | Decorative |
| Interior Features: | Turnkey, Recessed Lighting |
| Laundry: | In Unit |
| Patio Features: | Porch - Front, Patio Open, Concrete Slab |
Exterior
| Pool: | No |
| Spa: | No |
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