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2422 Venice Blvd, Los Angeles, CA 90019
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2422 Venice Blvd Los Angeles, CA 90019

$2,000,000
  • 0 Beds
  • 1 Baths
  • 4,716 Sq.Ft.
For Sale
$2,000,000 Get Pre-Qualified
Map preview of 2422 Venice Blvd, Los Angeles, CA 90019

Property Overview: 2422 Venice Blvd Los Angeles, CA has -- bedrooms, 1 bathrooms, 4,716 living square feet and 6,008 square feet lot size. Call an Ardent Real Estate Group agent to verify current availability of this home or with any questions you may have.

Agent Remarks: 2422 Venice Blvd is a 14 unit apartment building located in the Mid-City Submarket of Los Angeles. Located west of Western Ave, in between Gramercy and St Andrews. Built in 1913, the property consists of (13) SRO units and (1) Bachelor unit. Delivered with 9 vacant units. The property includes 4 recently renovated shared bathrooms totaling 7 toilets and 5 showers, on-site gated parking for 5 cars in the rear, on-site laundry, a recently renovated shared kitchen space, and a new roof. The subject property sits on a 6,006 sf lot zoned LAR3. The investment is offered at a very attractive cap rate and GRM with significant upside in rents. This property covers for a $1,400,000 loan at an 8.5% IO rate for 24 months. This along with the significant amenities for an SRO property make this an attractive opportunity for an investor.

Listed by William James | BRE #01734419 | Lyon Stahl Investment Real Estate, Inc.
Co-listed by Peter James | BRE #01748556 | Lyon Stahl Investment Real Estate, Inc.
Last checked: 11 minutes ago | Last updated: June 25th, 2024 | Source CRMLS | DOM: 96
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Home details

Lot Sq. Ft
6,008
HOA Dues
$0/mo
Year built
1913
Garage
--
Property Type:
Multi Family
Status
Active
MLS#
24404755
City
Los Angeles
County
Los Angeles
Time on Site
103 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 14
  • Total # of Buildings: 1
Unit Breakdown 1
  • # of Units: 13
  • # of Beds: 0
  • # of Baths: 0
  • Furnishing: Unfurnished
  • Actual Rent: $1,250
  • Total Rent: $14,645
  • Pro Forma/Market Rent: $16,250
Unit Breakdown 2
  • # of Units: 1
  • # of Beds: 0
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,500
  • Total Rent: $1,500
  • Pro Forma/Market Rent: $1,500
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 6.19%
  • Gross Rent Multiplier: 10.32
  • Gross Scheduled Income: --
  • Net Operating Income: $123,893
  • Gross Operating Income: $194,738
Annual Expense Breakdown
  • Total Operating Expense: --

Open Houses for 2422 Venice Blvd

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Property Details for 2422 Venice Blvd

Interior Features
Cooling Information
  • Has Cooling
  • Wall/Window Unit(s)
Heating Information
  • Has Heating
  • Wall Furnace
Laundry Information
  • Has Laundry
  • Washer Included, Dryer Included, Community
Kitchen Information
  • Has Appliances
  • Dishwasher, Disposal, Refrigerator
Interior Features
  • Levels: Multi/Split
  • Security Features: Automatic Gate, Carbon Monoxide Detector(s), Smoke Detector(s), Gated Community, Window Bars
Exterior Features
Exterior Information
  • Roof: Composition, Shingle
  • No Spa
  • Spa Features: None
Exterior Features
  • No Pool
  • Pool Features: None
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Parking Spaces: 5
  • Has Parking
  • Parking Features: Carport
Property Information
  • Has View
  • View: City Lights
  • Total # of Units: 14
  • Parcel Number: 5073015001
  • Architectural Style: Mid Century Modern
  • Entry Level: 1
  • Property Condition: Updated/Remodeled
Homeowners Association, Utilities, Taxes / Assessments
Homeowners Association
  • Is Not Part of Association
Utilities Information
  • Sewer: Other
Assessment Information
  • No Assessments
Location / Neighborhood
Location Information
  • Directions: Exit North on Arlington. Turn East on Venice Blvd.
View more facts & features

Local Los Angeles Agent

Sale History for 2422 Venice Blvd

Last sold for $1,850,000 on July 18th, 2019

  • June, 2024

  • Jun 17, 2024

    Date

    Active

    CRMLS: 24404755

    $2,000,000

    Price

  • March, 2024

  • Mar 7, 2024

    Date

    Canceled

    CRMLS: 23324553

    $1,000

    Price

  • Oct 23, 2023

    Date

    Active

    CRMLS: 23324553

    $1,200

    Price

  • Listing provided courtesy of CRMLS

    Room rent with shared kitchen. like a long term motel. All utilities are paid by the landlord. Convenient transportation and all living facilities within walking disrance.

  • March, 2024

  • Mar 7, 2024

    Date

    Canceled

    CRMLS: 23335491

    $2,200,000

    Price

  • Nov 29, 2023

    Date

    Active

    CRMLS: 23335491

    $2,200,000

    Price

  • Listing provided courtesy of CRMLS

    Apartment with 15 guest units, shared kitchen, 5 bathrooms in the units & 4 community bathrooms. Inside has been completely remodeled. Good to use as a long-term guest house.

  • November, 2023

  • Nov 16, 2023

    Date

    Canceled

    CRMLS: 23256909

    $2,400,000

    Price

  • Apr 3, 2023

    Date

    Active

    CRMLS: 23256909

    $2,250,000

    Price

  • Listing provided courtesy of CRMLS

    14 units with 1 huge office space. 3 of the units are occupied and 11 units are vacant. The property has been renovated and updated. Good for Airbnb, short term rentals, homeless shelter program, and boarding house opportunity.

  • April, 2023

  • Apr 7, 2023

    Date

    Canceled

    CRMLS: 23250469

    $2,190,000

    Price

  • Mar 14, 2023

    Date

    Active

    CRMLS: 23250469

    $2,190,000

    Price

  • Listing provided courtesy of CRMLS

  • March, 2023

  • Mar 1, 2023

    Date

    Canceled

    CRMLS: 23232633

    $2,300,000

    Price

  • Jan 14, 2023

    Date

    Active

    CRMLS: 23232633

    $2,300,000

    Price

  • Listing provided courtesy of CRMLS

    7 % CAP with 11 GRM for income property in Mid City. The Property is located in one of the most rental desire location. 14 Unit with 1 Manager's office Single Room Occupancy Housing in the Mid-City area near K-town and Downtown. The entire property has been immaculately renovated and updated. Perfect for HIP(Homeless Incentive Program), Shelter, Boarding house, Airbnb short term rental, etc. Own an income generating property at a prime location. Restaurants, Shopping, Groceries; all nearby. Don't miss this wonderful opportunity! We will deliver the entire property vacant at the Close Of Escrow. CAP/GRM is available upon request.

  • November, 2022

  • Nov 1, 2022

    Date

    Expired

    CRMLS: 22154287

    $2,200,000

    Price

  • May 6, 2022

    Date

    Active

    CRMLS: 22154287

    $2,200,000

    Price

  • Listing provided courtesy of CRMLS

    An apartment with 15 guest units. a shared kitchen, 5 units have private bathrooms and the rest of the units use common baths on each floor. 6 units are occupied and 9 units are vacant. All units have been fully renovated and updated. Good for HIP(Homeless Incentive Program), Shelter, Boarding house, Airbnb short term rental, etc. Located close to Koreatown, all the interesting and convinient facilities of LA are nearby. Don't miss this wonderful opportunity!

  • March, 2022

  • Mar 3, 2022

    Date

    Canceled

    CRMLS: 22119937

    $2,250,000

    Price

  • Jan 24, 2022

    Date

    Active

    CRMLS: 22119937

    $2,250,000

    Price

  • Listing provided courtesy of CRMLS

    14 Unit with 1 Manager's office Single Room Occupancy Housing in the Mid-City area near K-town. 6 of the units are occupied and 9 units are delivered vacant. The entire property has been immaculately renovated and updated. Good for HIP(Homeless Incentive Program), Shelter, Boarding house, Airbnb short term rental, etc. Own an income generating property at a prime location. Restaurants, Shopping, Groceries; all nearby. Don't miss this wonderful opportunity! We WILL deliver the entire property vacant at the Close Of Escrow.

  • July, 2021

  • Jul 1, 2021

    Date

    Expired

    CRMLS: 21684856

    $900

    Price

  • May 17, 2021

    Date

    Withdrawn

    CRMLS: 21684856

    $900

    Price

  • Feb 3, 2021

    Date

    Price Change

    CRMLS: 21684856

    $900

    Price

  • Jan 26, 2021

    Date

    Active

    CRMLS: 21684856

    $800

    Price

  • Listing provided courtesy of CRMLS

    Room rent with shared kitchen. like a long term motel. All utilities are paid by the landlord. Convenient transportation and all living facilities within walking disrance.

  • May, 2021

  • May 1, 2021

    Date

    Expired

    CRMLS: 20649030

    $2,250,000

    Price

  • Oct 19, 2020

    Date

    Active

    CRMLS: 20649030

    $2,250,000

    Price

  • Listing provided courtesy of CRMLS

    Apartment with 15 guest units, shared kitchen, 5 bathrooms in the units, 6 community bathrooms and one sigle room. 1 Unit has been occupied and the rest of them are vacant currently. Good to use as a long-term guest house. Recently renovated inside new bath and new paint.

  • February, 2020

  • Feb 22, 2020

    Date

    Expired

    CRMLS: 19531752

    $2,290,000

    Price

  • Nov 21, 2019

    Date

    Active

    CRMLS: 19531752

    $2,290,000

    Price

  • Listing provided courtesy of CRMLS

    Approved use of 15 guestrooms and 1 recreation room at Korea Town. Used code is registered as Rooming House and also good for shelter as supportive housing, Dormitory Group Dwelling, Group Servants Quarters, Shelter for Homeless for declared Emergency Crisis. Government Property Common Center (hosts for refugees or place of worship with zoned variance 10 + rooms.). Building Size:4,716 SF(Zimas.org) Lot Size:6,006 SF with 2 stories. The Property had been REAP but Finally, removed all violations. Ready to lease condition with remodeled units and a shared kitchen, 5 bathrooms in the units, 6 community bathrooms. 1 Unit has been occupied and the rest of them are vacant currently. Easy to show.

  • July, 2019

  • Jul 18, 2019

    Date

    Sold (Public Records)

    Public Records

    $1,850,000

    Price

  • November, 2017

  • Nov 17, 2017

    Date

    Sold (Public Records)

    Public Records

    $770,000

    Price

Show More

Tax History for 2422 Venice Blvd

Assessed Value (2020): $1,850,000
Year Land Value Improved Value Assessed Value
2020 $1,300,000 $550,000 $1,850,000

Home Value Compared to the Market

This property vs the competition

2422 Venice Blvd is listed 66.67% higher than the median list price for the city of Los Angeles which has a median list price of $1,200,000. The median price per/sqft for Los Angeles is $771 and this home is listed at $424.09 per/sqft which puts the price per square foot 45% lower than the median price per square foot for the city of Los Angeles.

About 2422 Venice Blvd

Detailed summary of property

2422 Venice Blvd is a multi family located in Los Angeles, CA 90019 and is currently for sale. This multi family property offers -- bedrooms, 1 bathrooms, roughly 4,716 living square feet, and sits on an approximately 6,008 square foot lot. 2422 Venice Blvd was first listed on ArdentRealEstateGroup.com on June 17, 2024. The homeowner is currently asking $2,000,000. The median priced home in Los Angeles is $1,200,000 with a median price per square foot of $771. Based on Ardent Real Estate Group's Los Angeles Market Data, this home is listed 66.67% higher than the median priced home. Local competing homes currently for sale include 1229 S Harvard Blvd, 1056 S Serrano Ave and 1237 4th Ave. While the average home in Los Angeles, CA is selling in 106 days, 2422 Venice Blvd has a days on market of 96 days. There are currently 4139 homes for sale in the Los Angeles real estate market and 2834 of them are single family homes while 1183 of them are condos and 115 are townhomes. For more information on this home for sale at 2422 Venice Blvd Los Angeles, CA 90019 contact Ardent Real Estate Group and we will put you in touch with one of our Los Angeles agents.

Public Facts for 2422 Venice Blvd

Public county record property details
Beds
1
Baths
2
Year built
1913
Sq. Ft.
4,716
Lot Size
6,005
Stories
--
Type
Apartment House (5+ Units)
Pool
No
Spa
No
County
Los Angeles
Lot#
56,57
APN
5073-015-001

The source for these homes facts are from public records.

90019 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$1,399,999
Median List Price/Sq.Ft.
$702
Median Sold Price
$1,277,500
Median Sold Price/Sq.Ft.
$715
Total Inventory
94
Median Sale to List Price %
98.65%
Avg Days on Market
29
Loan Type
Conventional (0%), FHA (0%), VA (0%), Cash (0%), Other (20%)

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1541 S St Andrews Pl, Los Angeles, CA 90019
$2,588,900 Last Sold Price
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Based on information from California Regional Multiple Listing Service, Inc. as of 2019. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.

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