3000 Grand Canal, Venice, CA 90291
Active
$6,595,000
6%
5 Units
12 Beds
14 Baths
7,068 Area(sq.ft.)
Lot: 5,990 Lot Size(sq.ft.)
| Type | # of Units | Bedroom | Bath | Furnished | Rent | Actual Rent | Projected Rent |
|---|---|---|---|---|---|---|---|
| Unit 1 | 1 | 4 | 4.50 | No | $ 24,000 | $ 20,000 | $ 20,000 |
| Unit 2 | 1 | 1 | 1.50 | No | $ 5,000 | $ 5,000 | $ 5,000 |
| Unit 3 | 1 | 1 | 1.50 | No | $ 5,500 | $ 5,500 | $ 5,500 |
| Unit 4 | 1 | 3 | 3 | No | $ 5,000 | $ 5,000 | $ 5,000 |
| Unit 5 | 1 | 3 | 3 | No | $ 9,000 | $ 8,000 | $ 8,000 |
| 5 | 12 | 15 | $ 48,500 | $ 43,500 | $ 43,500 |
| MLS #: | 25524663 |
| Days On Market: | 239 |
| Listing Date: | April 11, 2025 |
| County: | Los Angeles |
| Property Type: | Residential Income |
| Price per ft2: | $ 933 |
| Price per unit: | $ 1,319,000 |
| Year Built: | 2010 |
Property Details
A rare opportunity to own a trophy 5-unit luxury property on the iconic Venice Canals, just 2 blocks to the beach & steps to vibrant Washington Blvd. Rebuilt from the ground up in 2010, this exceptional offering combines the elegance of newer construction with the timeless appeal of one of So Cal's most celebrated neighborhoods. With panoramic views stretching from the Venice Canals to the Santa Monica Mountains and Marina del Rey, this income-producing property is perfect for an owner-user, long-term investor, or 1031 exchange buyer seeking a low-maintenance, high-quality asset in a world-class location built on a 6000 sq foot double corner lot. The crown jewel is the front-facing 3-story, 4-bed, 4.5 bath luxury residence with a private elevator, 3-car garage, and expansive decks on every level, ideal for entertaining or quiet enjoyment. The chef's kitchen features custom cabinetry, travertine countertops, stainless steel appliances, and a walk-in pantry. French doors open to a lush, grassy canal-front yard, perfect for barbecues and gatherings. Inside, the open concept living & dining rooms flow beautifully, complete with a fireplace and powder room on the main level. The upper floors offer dual master suites with luxurious bathrooms, seating areas, fireplaces, and private balconies overlooking the canals. The additional four units are equally well-appointed and include two 3-bed, 3-bath 2 story townhouse units and two 1-bed, 1.5-bath one level units. These units feel more like condos than regular apartments. Each unit offers central HVAC, fireplaces, washer/dryers, travertine finishes, large pantries, and high-end appliances. All units were built with quality in mind, including new plumbing, electrical, HVAC, and a 40-year guaranteed roof. This is not your average apartment building, the sellers used high quality finishes throughout including custom made decorative iron railings and top-quality windows and doors. Whether you're looking to live in one of the most desirable areas of L.A. or capitalize on strong rental income long-term or short-term, this premier property offers unmatched flexibility and prestige. With over 25 restaurants, bars, and cafes within a short walk and quick access to Abbot Kinney, Marina del Rey, the Venice Boardwalk, and the 28-mile beach bike path, this is coastal living and investing at its finest. The property is currently overseen by a highly experienced on-site property manager who resides in Unit 4. She maintains the entire building and handles the coordination of short-term rentals, ensuring smooth operations and consistent income. Units #2 and #5 are occupied by long-term tenants, while the main front home operates as a luxury short-term rental, typically leased for one to four months at a time. The main house is currently leased through summer 2025 at $24,000 per month, yielding a monthly net income of approximately $20,000 to the seller after management fees. Unit #5, also operated as a short-term rental, earns $9,000 per month with a net to owner of $8,000 monthly after fees. The property manager is open to remaining with the new owner, offering a seamless and turnkey management solution. Given the high demand for upscale short-term (31+ days) rentals in Venice and neighboring Marina del Rey, the property is well-positioned for strong rental income and long-term appreciation. Both short term and long-term tenants love this beach location and the walkability of the area. The property is meticulously maintained by the owner who built the property in 2010. The seller, now retiring and relocating to the East Coast, leaves behind a fully stabilized property with no current vacancies. Purchase price includes all furnishings in both short term rentals. 10 car parking, 3 car garage for main unit plus 7 open spaces off the alley. Seller will carry $1M at a favorable interest rate.Interested in this Listing?
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Income Details
| Rent Control: | Yes |
| Vacancy Rate: | 15558% |
| Gross Operating Income: | $ 504,012 |
| Total Annual Expense: | $ 146,681 |
| Net Operating Income: | $ 357,332 |
| Gross Annual Income: | $ 522,000 |
| Cap Rate: | 5.42% |
| Gross Rent Multiplier: | 12.69 |
| Actual Gross Rent: | $ 522,000 |
Structure
| Type of Units: | Luxury |
| Buildings: | 1 |
| Levels: | Multi/Split |
| Style: | Contemporary Mediterranean |
| Sewer: | In Connected and Paid |
| View Description: | Canal, Mountains |
Land & Parking
| Zoning: | LARW1 |
| Parking Garage: | Attached |
| Total Parking: | 10 |
Interior
| Cooking Appliances: | Cooktop - Gas, Built-Ins, Oven-Gas |
| AC/Cooling: | Central |
| Equipment: | Built-Ins, Garbage Disposal, Elevator, Dryer, Dishwasher, Gas Dryer Hookup, Hood Fan, Vented Exhaust Fan, Washer |
| Heating: | Central |
| Fireplace Rooms: | Family Room |
| Interior Features: | Elevator |
| Kitchen Features: | Gourmet Kitchen, Granite Counters |
| Laundry: | In Unit |
| Laundry Equipment: | Own |
Exterior
| Exterior Construction: | Stucco |
| Pool: | No |
| Roof: | Composition, Flat, Shingle |
| Spa: | No |
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