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$6,995,000

Beds
24
sq ft
11,180

2700 Abbot Kinney Blvd, Venice, CA 90291

2700 Abbot Kinney Blvd

Venice, CA 90291

  • 138 days on market
    • Price drop $855,000↓
Huge price reduction! We are pleased to offer for sale an incredible multifamily asset at 2700 Abbot Kinney Blvd. in the heart of LA's famed beach city of Venice. Originally built in 1959, the building boasts an incredibly rare unit mix consisting of 1 and 2 bedroom units. Each of these units are spacious and have a terrific floor plan. The property is situated on a large corner lot; thus, all units offer an abundance of natural light. There is HUGE rental upside, as current rents hover around $2.93/SF. Additionally, there is parking for all units as well as an on-site laundry facility. All units look out to a serene and beautifully landscaped courtyard, and residents enjoy being walking distance to the Venice Boardwalk and the beach. This is a fantastic trophy asset in an undeniably attractive location that will surely pay long-term dividends to a savvy investor. A walker's paradise, this rare offering presents an astute investor with the unique opportunity to capitalize on higher market rents and to acquire a premier turnkey asset in one of the best rental locations in all of Los Angeles.

Details

Property type

Est. home value

$6,415,379

Lot size

0.3231 acres

Price per sq ft

$626

Year built

1959

HOA

No

Price History

12/04/2024
CLAW

CLAW #24424311

Price change
$6,995,000
-10.89%
08/06/2024
CLAW

CLAW #24424311

Listed
$7,850,000
04/02/2024
CLAW

CLAW #23292245

Removed
$7,850,000

Schools & Community

Neighborhood: 

Venice

Elementary school: 

Unknown

Middle school: 

Unknown

High school: 

Unknown

Seller’s Loan History

Before you make an offer, understand who you are negotiating with so you can tailor your negotiation strategy to their situation.

Lender

Jpmorgan Chase Bank Na

Loan start date

September 2018

Original loan amount

$2,950,000

Est. remaining balance

Not provided

Interest rate

3.87%

Loan type

Commercial

Seller

2700 Abbot Kinney Blvd Llc

Source: Public records data

If you're the owner, you can request to remove loan details. Email listingsupport@tomo.com

How insights can help you

Interest rate

If the seller has a low interest rate, they may be tempted to rent the property out if they can't get the price they have in mind.

Motivation

If the seller already got a job in a different city, they may feel pressure to sell quickly to free up cash for a new home.

Equity

If the seller stands to receive a large amount of cash when they sell the property, they might be willing to negotiate on the offer price.

Interested in learning more?

Status: Active

Tomo last checked: 12/22/2024 at 8:00 AM

Listing updated: 12/04/2024 at 2:45 PM

Listed by: Jonathan Taksa, Remax Commercial and Investment Realty Phone #: (213) 817-1000

MLS: CLAW #24424311

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