559 Sunset Avenue, Venice, CA 90291

About this property

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).

Listing description from the February 2023 sale, as reported to CRMLS.

Sale history

$5,825,000

Sold February 2023 · listed $6,250,000, on market November 2022 · MLS #22215457 · Source: CRMLS

Listing Agent: Andres Diaz · Listing Office: Keller Williams Downtown LA · Contact: 213-797-7000 · Bought with: Scott Chaplan · Del Rey Urban Brokerage

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