44 Navy St, Venice, CA 90291

±7.61% Proforma CAP Rate with 2 vacant units in the iconic Venice Beach! We are thrilled to present an exceptional investment opportunity at the tip of the world renown Venice Beach Boardwalk, in the City of Venice (under Los Angeles RSO). 44 Navy St is a prime 15-unit value-add apartment only steps away from the sand and world-famous Venice Beach! Offering a tremendous locations, yet with a quiet residential atmosphere. This is the first time this property offered for sale since 1977. This rare investment offering probably one of the best valued multifamily investment offering in Venice Beach at only $303k/unit and 7.61% Proforma CAP Rate (buyer to verify). The location offers unparalleled and world class area amenities: Venice Beach (Skatepark, Muscle Beach, Fishing-Pier, etc.), Venice Boardwalk, South Beach Park, restaurants (Venice Ale, The Waterfront Venice, etc.), and retail stores. It has a perfect Bike Score of 100, and Walk Score of 90. Surrounded by high-end properties, the area boasts a fantastic demographic of ±$163,669 average household income within a mile radius! The property is a 3 story apartment that was built in 1910 (not historical – buyer to verify). It has a large building size of 6,300 SF and situated on a ±2,896 SF R3 zoned lot. It has 15 units (NO Onsite Manager is required!) with suitable unit mix for the area: five (5) x 1bed+1bath, and ten (10) x Studio units. Each unit has functional layout that is suitable for beach living. Some units have private balconies, and several units have ocen views. Each unit has laminate wood floor, gas wall heater, full sized kitchen, and combination between bathtub or shower stall. Most of the units have not been upgraded. Because of the unit mix, it encourages higher turnover which is ideal for this location quality. Each unit is individually metered for electricity. The electrical panels for each unit have been updated. The roof was recently tuned by roofing company, and the exterior paint were recently touched up. The building is fully sprinklered, complete with fire alarm system and fire door. It has additional fire escape staircases in the back. Each unit is separately metered for electricity, gas and water are master metered.