Deal numbers

A cap rate estimate is not available for this property yet. Ask Alex for a pro forma using comparable rent data.

Property details

Type

Apartment

Bedrooms

4

Building size

4,734 sqft

Lot size

7,999 sqft

Year built

1949

Stories

2

Garage spaces

2

Pool

None

Status

Active

Days on market

13

MLS #

247970497

About this property

Location, Location, Location: The Machado Apartments is a four-unit multifamily property in prime Venice, California. The two-story, walk-up building offers an excellent unit mix of one one-bedroom apartment and three two-bedroom apartment homes. The residences average approximately more than +1,180 square feet, providing spacious floor plans. Select units have French doors, fireplaces, outdoor yards, expansive deck and in-unit laundry. The property features a gated entrance and sits on 2 separate parcels encompassing approximately 8,000-square-foot lot. This is an exceptional investment opportunity with approximately 66 Percent upside in current rents, as well as compelling potential for future redevelopment. Great for a 1031 Exchange and or Owner User. Located within five minutes of world-famous destinations including Abbot Kinney Boulevard, Rose Avenue, Main Street, and Venice Beach, the property is well positioned in one of Los Angeles’ most desirable rental markets. Held by the same owner for more than 40 years, the Machado Apartments represents a rare opportunity to acquire a unique, well-located Venice asset with significant value-add potential. Properties with these unit sizes seldom come to market.

Location

716 Machado Drive

Venice, Los Angeles, CA, 90291