At last, a chance to own a Luxury 5 Unit complex in the renowned Venice Canals. Have you ever wanted a vacation home, but didn't want to brunt the expense while you were away? Now is your chance to occupy a unit while you have supplemental income to pay your mortgage and variable expenses! Are you just an investor looking for a multi-family property without all the maintenance and construction headache, or a 1031 buyer who doesn't want to contribute more capital after purchase? This is your chance! The property was completely rehabilitated in 2010, including new foundation, plumbing, roof, electrical, water heaters, doors/windows and more. The Front Facing unit is a 3 story 4bedx4.5bath with a private elevator, 3 car garage, stunning views of the Venice Canals and a lush private garden with large decks on every level. The remaining 4 units comprise of two 3bed/3bath units and Two 1bed/1.5bth units, each unit is equipped with central HVAC, in unit washer and dryers, fireplaces, custom cabinets, travertine counters and large pantries. The property is being sold at an in place 4.39% Cap rate and 16.41GRM with plenty of upside in rents.
- Price:
- $6,595,000
- Bedrooms:
- 12
- Square Footage:
- 7,068
- Acreage:
- 0.14
- Year Built:
- 1927
- Listing ID #:
- 23247735
- Street Address:
- 3000 Grand Canal
- City:
- Venice
- State:
- California
- Postal Code:
- 90291
- County:
- Los Angeles
- Community:
- Venice
- Listing Status:
- Active
- Listing Type:
- Residential Income
- Approximate Total Liveable Area:
- 7068
- Building Condition:
- Updated/Remodeled
- Building Security:
- Carbon Monoxide Detector(s), Firewall(s)
- Construction Description:
- Frame
- Fireplace:
- Yes
- Fireplace:
- Family Room, Living Room
- Flooring:
- Wood
- Foundation:
- Combination
- Interior Features:
- Ceiling Fan(s), Recessed Lighting
- Number Of Floors In Unit:
- Multi/Split
- Number Of Units:
- 5
- Patio Description:
- Open, Patio
- Stories:
- 3
- Total # Of Buildings:
- 1
- Total Building Square Footage:
- 7068
- View:
- Canal, Hills
- Windows:
- Custom Covering(s), Double Pane Windows, Plantation Shutters
- Year Built:
- 1927
- Net Operating Income:
- 289836
- Conforms To Zoning:
- Larw1
- Lot Size:
- 5988
- Lot Square Footage:
- 5988
- Days On Market:
- 81
- On Market Date:
- 2023-03-08
- Originating Mls:
- Crmls
- Tenant Pays:
- Electricity, Gas
- Garage Parking Spaces:
- 3
- Has Attached Garage:
- Yes
- Has Garage:
- Yes
- Parking Description:
- Door-Multi, Driveway, Garage
- Parking Spaces:
- 11
- Uncovered Parking Spaces:
- 8
- Appliances:
- Convection Oven, Dishwasher, Gas Cooktop, Disposal, Microwave, Range, Refrigerator, Dryer, Washer
- Cooling System:
- Central Air
- Has Central Air Conditioning:
- Yes
- Heating:
- Central
- Waterfront Description:
- Canal Front
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The amounts for the Tax, Insurance, and HOA are estimates and not actual amounts.
Your Payment
$1,400/mo
Source: CINC
- Listing Agent Adam Kanizo with LND Realty
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