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$6,100,000
Est. payment /mo
26 Beds
14 Baths
10,651 SqFt
UPDATED:
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 10,651 sqft
Price per Sqft $572
MLS Listing ID 25619381
Bedrooms 26
HOA Y/N No
Year Built 1964
Lot Size 0.259 Acres
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
Area C11 - Venice
Zoning LARD1.5
Interior
Fireplace No
Appliance Dryer, Washer
Exterior
Parking Features Carport
Total Parking Spaces 17
Building
Entry Level Multi/Split
Level or Stories Multi/Split
New Construction No
Others
Senior Community No
Tax ID 4240010035
Special Listing Condition Standard
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Listed by Taylor Avakian Lyon Stahl Investment Real Estate, Inc.
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