16 Thornton Avenue

    Venice, CA 90291
    • $5,000,000
    • STATUS: Active
    • ON SITE: 19 days
    • ID#: 19507968
    $5,000,000
    • 0
      BEDS
    • 0.08
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 9,546
      SQFT
    • $524
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1913
    County:
    Area:

    School Ratings & Info

    Description

    A once in a lifetime opportunity to own a part of Venice history. Built 1913 and renovated in 2019, This 18-unit apartment building is right off the ocean. On the corner of Speedway and Thornton, many of the units have beautiful ocean views. This building comes with the charm you will only find in a few buildings left in Venice of this age. 7 units will be delivered vacant. The above rents only reflect tenant-occupied units. Huge upside in rents!

    Monthly Payment Calculator



    Based on information from California Regional Multiple Listing Service, Inc. as of 2019-10-22T00:33:43.89. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Allison James Estates and Homes. Licensed in the State of California, USA.
    www.teamforss.com/homes/99547739

    16 Thornton Avenue Venice, CA 90291

    • Price: $5,000,000
    • Status: Active
    • ID#: 19507968
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.08
    Acres
    9,546
    SQFT
    $524
    $/SQFT
    1913
    Built
    Neighborhood:
    C11 - Venice
    County:
    Los Angeles
    Area:
    C11 - Venice
    Property Description
    A once in a lifetime opportunity to own a part of Venice history. Built 1913 and renovated in 2019, This 18-unit apartment building is right off the ocean. On the corner of Speedway and Thornton, many of the units have beautiful ocean views. This building comes with the charm you will only find in a few buildings left in Venice of this age. 7 units will be delivered vacant. The above rents only reflect tenant-occupied units. Huge upside in rents!
    Exterior Features

    Lot Size Units Square Feet Roof Composition

    Interior Features

    Cooling None Cooling YN No Laundry Features None

    Property Features

    Cap Rate 0.09 Gross Multiplier 31.30 Gross Operating Income 159744.00 Improvements Amount 660182 Land Value 799800 Laundry YN No Net Operating Income 46118.00 Property Condition Fixer Special Listing Conditions Standard Total Expenses 113626.00 Zoning Lard1.5

    Listing provided courtesy of Michael Springer of Compass


    Based on information from California Regional Multiple Listing Service, Inc. as of 2019-10-22T00:33:43.89. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Allison James Estates and Homes. Licensed in the State of California, USA.
     
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