Venice, CA 90291 605 Indiana Avenue
$3,699,000
34 more
Presented By: Karsten Demers with Coldwell Banker Realty;
Home Details
This exceptional property presents a remarkable opportunity for investors seeking high rental yields or owner-users wishing to live in one unit while generating income from the others. Each unit has undergone a significant remodel in 2014, featuring beautiful distressed hardwood floors, farmhouse closet doors, custom cabinetry, and modern kitchens and bathrooms equipped with Caesarstone countertops and stainless steel appliances. The property boasts enhanced privacy with new landscaping, a secure electric gate, and dedicated parking for each unit. Unit 605 is the front Bungalow which is a spacious 3 bed, 2 bath home with a loft in one bedroom, cathedral ceilings in the living room, and a private front yard ideal for Venice Beach's indoor-outdoor lifestyle. Comes with 2 dedicated parking spaces & private laundry area. Unit 607 is a 2 bed, 2 bath layout featuring a private covered outdoor deck and its own entrance, along with designated parking & in unit stacked laundry .Unit 609 is the upper 2 bed, 2 bath space offers stunning roofline views and includes a dedicated parking space and separate pedestrian gate access w/ in unit laundry. Thanks to its prime location, just a short walk or bike ride from Abbot Kinney Blvd, Rose Ave, Lincoln Blvd, and the beach, these units consistently attract high market rents shortly after listing. Additionally, the duplex portion of the property is not subject to the Rent Stabilization Ordinance (RSO) as this was completed in 2014 per LADBS. Unit 607 may be delivered vacant at close of escrow. Don't miss this rare opportunity to invest in a highly desirable Venice property! Contact the listing agent for more details.
Presented By: Karsten Demers with Coldwell Banker Realty;
Interior Features for 605 Indiana Avenue
Bedrooms
Total Bedrooms7
Bathrooms
1/4 Baths0
3/4 Baths0
Half Baths
Total Baths6
Other Interior Features
Air Conditioning Y/NYes
Basement (Y/N)No
Fireplace Y/NNo
Heating Y/NYes
Total Stories2
General for 605 Indiana Avenue
Additional Parcels Y/NNo
AppliancesDishwasher, Disposal, Microwave, Refrigerator, VentedExhaustFan, Dryer, Washer
Architectural StyleBungalow
Attached Garage No
Buyer FinancingCash
Cap Rate3.5
Carport Y/NNo
CityVenice
CoolingCentralAir
CountyLos Angeles
DirectionsIndiana Ave between 6th & 7th ave
DisclosuresCoastalZone, RentControl, SellerDisclosure
Electric On Property Y/NNo
Full Baths
Garage Y/NNo
Gross Income192600.0
HOANo
HeatingCentral
Home Warranty Y/NNo
Interior FeaturesCeilingFans
Land Lease Y/NNo
Lease Considered Y/NNo
Lease Renewal Y/NNo
LevelsTwo
Lot Size Square Feet5019.0
Lot Size UnitsSquareFeet
MLS AreaC11 - Venice
MobileHomeRemainsYNNo
Net Operating Income130754.08
New ConstructionNo
NumberOfUnitsTotal3
PossessionCloseOfEscrow
Private PoolNo
Property TypeResidentialIncome
Rent Control Y/NYes
Senior Community Y/NNo
Special Listing ConditionsStandard
Standard StatusActive
StatusActive
Stories2
Tenant PaysCableTv, Electricity, Gas, Insurance, Other
Waterfront Y/NNo
Year Built1921
ZoningLARD1.5
Exterior for 605 Indiana Avenue
Building Area Total2638.0
Crops Included Y/NNo
Horse Y/NNo
Irrigation Water Rights Y/NNo
Lot Dimensions60x84
Lot Size Acres0.1152
Lot Size Area5019.0
Number of Buildings2
Open Parking Y/NNo
Parking FeaturesAssigned, Concrete, Driveway, Gated, Private, OneSpace, OnStreet
SpaNo
Total Parking5.0
Additional Details
Price History
Stephen Pliaconis
Pliaconis Realty Group REALTOR® DRE 02015480