616 SunsetVenice, CA 90291

Description

Situated in a prime Venice location north of Abbot Kinney Blvd, 616 Sunset Ave presents a well-positioned 4-unit multifamily opportunity with additional development upside in one of Los Angeles’ most sought-after coastal submarkets. The property features classic Spanish-style architecture and consists of (4) 2-bedroom / 1-bath units totaling approximately 3,224 square feet on a 4,802 square foot lot. The units have undergone extensive renovations under current ownership, including new 100-amp electrical panels in each unit, recessed lighting, new outlets and switches, new flooring, new drywall and paint throughout, and updated smoke detectors. Kitchens have been upgraded with new countertops, cabinetry, dishwashers, refrigerators, stoves, and vent hoods, while bathrooms feature new showers, tile, and vanities. Each unit is equipped with in-unit stackable washer and dryer systems, significantly enhancing tenant appeal. Second-story units include private balconies with west-facing windows providing strong natural light and ocean breezes, and a shared outdoor patio area further enhances livability. In addition to the stabilized in-place income, ownership has commissioned plans for a detached two-story duplex ADU (Buyer to Verify Feasibility & Permitting) totaling approximately 965 square feet, designed as (2) 1-bedroom / 1-bath units above a new carport structure. The proposed improvement would increase the total unit count from four to six units and expand total living area to approximately 4,356 square feet, creating meaningful long-term income growth potential. The property includes on-site parking for seven vehicles, a new trash enclosure, and a new roof installed in 2022. Currently offering a 4.86% cap rate, 616 Sunset Ave combines comprehensive capital improvements, strong in-place returns, and clear value-add potential in one of Venice’s most desirable neighborhoods.

Property Information

Property type

Residential

Sub-type

Quadruplex

Structure type

Quadruplex

Year built

1960

Stories

2

Living area

3,224 Sq Ft

Lot size

0.11 acres

Days on market

223

MLS^® Listing#

SB26039732

Property Features

Appliances

Dryer · Washer/Dryer Stacked

Cooling

Central Air

Fireplace

None

Pool

None

Laundry

Washer Hookup

Sewer

Public Sewer

Water source

Public

Schools

High

Venice

Financial Details

HOA

None

Parcel number

4240013007

Directions

On The Corner of Sunset Ave and Sunset Ct