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$ 6,100,000
Est. payment /mo
Active
559 Sunset Avenue Venice (los Angeles), CA 90291
10,651 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 10,651 sqft
Price per Sqft $572
MLS Listing ID CL25619381
HOA Y/N No
Year Built 1964
Lot Size 0.259 Acres
Acres 0.26
Property Sub-Type Other
Property Description
559 Sunset Ave, Venice, CA 90291 is a prime coastal multifamily asset featuring fourteen units, including five units delivered vacant at close, offering immediate cash flow and substantial rent growth potential. Positioned on an expansive 11,278 SF RD1.5-zoned double lot, the property provides long-term upside through RTI plans for three ADUs and the ability to further enhance value with strategic renovation and modernization. Current rents are well below market, with pro forma projections showing meaningful income growth as units are upgraded and stabilized, driven by Venice's premium rental demand and limited supply. The property is just minutes from Abbot Kinney, Lincoln Blvd, the beach, and major Silicon Beach employment hubs, with walkable access to neighborhood dining, shopping, and recreation. With strong tenant demand, exceptional fundamentals, and multiple value-add pathways, 559 Sunset Ave offers an outstanding opportunity in one of Los Angeles' most desirable coastal submarkets.
Location
State CA
County Los Angeles
Zoning LARD
Interior
Fireplace No
Appliance Dryer
Laundry Dryer, Washer
Building
New Construction No
Others
Tax ID 4240010035
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Listed by Taylor Avakian • Lyon Stahl Investment Real Estate, Inc.