559 Sunset Ave, Venice, CA 90291 - Photo 1

1/1

$5,825,000

Sold
Closed
Multi-Family
26 Total Beds

1/1

Property Description

559 Sunset Avenue is a 14-unit apartment located in the high barrier to entry neighborhood of Venice. The property is situated on a double lot (11,270 SF) and consists of two (2) one-bedroom units and twelve (12) two-bedroom units. In addition, the property is walking distance to the dining and entertainment options on Rose Avenue & 6th Avenue. The opportunity presents a new investor the ability to renovate units immediately and capture close to 63% upside in rents. Tenants are within 1 1/2 blocks to Whole Foods and a short walk to Abbot Kinney. Lastly, 559 Sunset is offered at a sub-16 GRM and provides ample parking for tenants (17 spaces).

Full Property Details

Full Property Details for 559 Sunset Ave

General

Sold For: $5,825,000
Status: Closed
Type: Multi-Family
Source: CLAW
MLS ID: 22-215457
Added to Site: 1, 169 day(s) ago

Rooms

Bathrooms

Total Bathrooms: 14

Bedrooms

Total Bedrooms: 26

Additional Information

Other Features: None

Parking

Garage Description: Assigned

Location

Area: Venice
County: Los Angeles
Driving Directions: on the corner of Sunset Avenue & 6th Avenue. The neareast major cross streets are 6th/Rose and walking distance to Venice Beach.

Heating & Cooling

Cooling Type: Ceiling Fan
Heating Type: Wall

Structural Information

# Buildings: 1
Stories/Levels: 2
Square Feet: 10,651
Sq. Ft. Source: Vendor Enhanced
Year Built: 1964
Year Built Source: Vendor Enhanced

Unit Information

Units in Complex: 14
Unit Type: 2106, 2107

Unit 1

Total Bathrooms: 1
Bedrooms: 1

Unit 2

Total Bathrooms: 1
Bedrooms: 2

Additional Structures

Other Structures: None

Lot Features

Lot Size (Acres): 0.2587
Lot Size: 11270
Lot Size Source: Vendor Enhanced
Lot Dimensions: 81 x 140
Zoning: LARD1.5

Financial Considerations

Price Per Sq. Ft.: $586.8
Assessment Year: 1964

Disclosures and Reports

Disclosures/Reports: As Is
APN: 4240-010-035

Listed by Keller Williams Downtown LA, Andres Diaz
Sold by Del Rey Urban Brokerage, Scott Chaplan and Del Rey Urban Brokerage, Consuela Kielbowicz

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Listing agent

— 559 Sunset Ave —

Andres Diaz

Keller Williams Downtown LA

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Schools

Schools serving 559 Sunset Ave

School District:Los Angeles Unified School District

Name	Grades	Distance
Westminster Avenue Elementary School 1010 Abbott Kinney Blvd., Los Angeles, CA 90291	K-5	0.4 mi
Mark Twain Middle School and World Languages Magnet 2224 Walgrove Avenue, Los Angeles, CA 90066	6-8	1.5 mi
Venice Senior High School 13000 Venice Boulevard, Los Angeles, CA 90066	9-12	1.5 mi

Disclaimer: School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.

Price & Sales History for 559 Sunset Ave

Date

Details

Price

Change

Source

2/24/2023

Sold

$5,825,000

-6.8%

MLS

11/04/2022

Listed

$6,250,000

—

MLS

Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

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559 Sunset Ave, Venice, CA 90291 (MLS# 22-215457) is a Multi-Family property that was sold at $5,825,000 on February 24, 2023. Want to learn more about 559 Sunset Ave? Do you have questions about finding other Multi-Family real estate for sale in Venice? You can browse all Venice real estate or contact a Coldwell Banker agent to request more information.

559 Sunset Ave Venice, CA 90291