Est. cap rate

2.8%

Assumed rent, all units

$13,050/mo

Units

3

Price per unit

$931,667

Est. annual NOI

$78,300

Expense assumption

50%

Estimates only, based on HUD Fair Market Rents (a conservative 40th percentile floor) and a standard 50% operating expense assumption. Not a guarantee of income or value. Ask Alex for a pro forma using comparable rent data.

Run your own numbers

Adjust the assumptions to see cash flow and cash on cash return.

Illustration only, using a 30 year loan and your assumptions above. Not a loan offer, financial advice, or a guarantee. Confirm financing and actual rents independently.

Property details

Type

Triplex

Bedrooms

6

Bathrooms

6

Building size

3,412 sqft

Lot size

4,692 sqft

Year built

1966

Stories

2

Garage spaces

1

Heating

See Remarks

Cooling

See Remarks

Pool

None

View

Neighborhood,Peek-A-Boo

Status

Active

Days on market

54

MLS #

245110133

About this property

Welcome Aboard! The Iconic Boat House of the Marina Peninsula is one of the most recognizable buildings on the sand side of Marina del Rey, just steps from the beach, the Venice Canals, and Abbott Kinney. This triplex lives like a fourplex. Unit 1 anchors the first floor with 2 beds, 2 baths, and approximately 1,063 square feet opening to a large wraparound patio and the building's signature boat deck. Unit 2 is a recently remodeled 1 bed, 1 bath of approximately 750 square feet. Unit 3 offers a spacious 2 bed, 2 bath layout with in-unit laundry across approximately 995 square feet and its own one-car garage. The fourth unit, an unpermitted studio of approximately 388 square feet with a kitchenette, private bath, and its own balcony, is delivered vacant. Ample parking, a storage room, and separately metered electricity and water round out the building. Plans are in process with the city to legalize the fourth unit under AB 2533, convert the garage and storage into an attached two-bedroom ADU, and add a detached two-story ADU with its own rooftop deck, creating a path to six total units in one of LA's most supply-constrained coastal pockets. A new owner inherits months of Coastal-zone entitlement progress instead of starting from scratch. The timing is bigger than the building: Venice Beach will serve as an official 2028 Olympic venue, hosting the triathlon along with the marathon and road cycling starts, minutes from this address. Rent roll, plans, and permit status available upon request.

Location

3906 Pacific Avenue

Marina del Rey, Los Angeles, CA, 90292