Venice, CA 90291 728 Vernon Avenue

$2,899,000

36 more

Presented By: Salar Farshchi Tabrizi with Equity Union; 919-702-6650

MLS# SR24075666
04/16/2024

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Beds • 5
Baths • 4
SQFT • 2,766
Garage • 3

Home Details

VACANT REMODELED 4PLEX WEST OF LINCOLN with RTI Permits to build a new single family house- Conveniently located in Venice Beach California, one of the highest-demand rental markets in the country. The front unit is a 2 bedroom & 1 bathroom single family residence with RTI permits to build a bigger house on it. Additionally, there are 3 fully remodeled, 1 bedroom, 1 bathroom units in the back. All 3 back units have been fully remodeled; New plumbing, new electrical, new HVAC, new doors & windows, new smooth stucco, new flooring, new appliances, separate laundry for each unit etc. This fully gated income property is once in a lifetime investment opportunity that provides its owner with many options. Back units being fully remodeled, having both front & back alley access with dedicated garage space in the back for all 3 back units make this property a truly unique investment opportunity. You can enjoy the rental cashflow from back units while building your dream house in the front at the same time. Alternatively, you can rent all 4 units for top dollar. All 4 units have their own laundry. This is an extremely rare opportunity for an investor to acquire a 100% vacant building with RD1.5 Zoning. Moments from Abbot Kinney, beach, Rose, and everything else Venice has to offer. ALL UNITS WILL BE DELIVERED VACANT WITH RTI PERMITS TO BUILD A NEW SINGLE FAMILY HOUSE ON THE FRONT UNIT AT CLOSE OF ESCROW!

Presented By: Salar Farshchi Tabrizi with Equity Union; 919-702-6650

Interior Features for 728 Vernon Avenue

Other Interior Features

Air Conditioning Y/NYes

Basement (Y/N)No

Common WallsNoCommonWalls

Electric On Property Y/NNo

Fireplace FeaturesNone

Fireplace Y/NNo

FlooringVinyl

Heating Y/NYes

Street SuffixAvenue

Total Stories2

Window FeaturesDoublePaneWindows

Other Rooms

Entry Level

General for 728 Vernon Avenue

AccessibilityNone

Additional Parcels Y/NNo

AppliancesDishwasher, GasRange, Microwave, Refrigerator, RangeHood, WaterHeater, Dryer, Washer

Architectural StyleOther

Attached Garage No

Building Area UnitsSquareFeet

Carport Spaces0.0

Carport Y/NNo

CityVenice

Community FeaturesCurbs, Sidewalks, Urban

Construction MaterialsDrywall

ContingencyDO NOT go direct. DO NOT disturb tenants. Call listing agent, Sal Tabrizi @ (310) 554-8555 to schedule a showing and for access.

CoolingCentralAir, WallWindowUnits

CountyLos Angeles

Days on Market23

DirectionsTake I-405 S/San Diego Fwy and I-10 W to Olympic Blvd in Santa Monica. Take exit 1B from I-10 W. Take Lincoln Blvd to Vernon Ave.

ElectricStandard

Electric Expense0.0

Entry LocationStreet

Fuel Expense0.0

Garage Spaces3.0

Garage Y/NYes

Gross Income149575.0

HOA0.0

HOA / Comm AssnNo

HeatingCentral

Home Warranty Y/NNo

Insurance Expense0.0

Interior FeaturesFurnished, QuartzCounters, RecessedLighting

Land Lease Y/NNo

Lease Considered Y/NNo

Lease Renewal Y/NNo

LevelsTwo

Listing TermsCash, CashtoNewLoan, Conventional

Lot Size Square Feet4802.0

MLS AreaC11 - Venice

MobileHomeRemainsYNNo

Net Operating Income141000.0

New ConstructionNo

Open Parking Spaces0.0

Operating Expense0.0

Pool FeaturesNone

Private PoolNo

Property Attached Y/NNo

Property ConditionUpdatedRemodeled

Property Sub Type AdditionalQuadruplex

Property SubTypeQuadruplex

Property TypeResidentialIncome

Rent Control Y/NYes

RoofAsphalt, Shingle

Senior Community Y/NNo

SewerPublicSewer

Spa FeaturesNone

Special Listing ConditionsStandard

Standard StatusActiveUnderContract

StatusActiveUnderContract

Stories2

Street NameVernon

Tax Lot7

Total Units4

Trash Expense0.0

UtilitiesElectricityConnected, SewerConnected, WaterConnected

ViewNone

View Y/NNo

Water Sewer Expense0.0

Waterfront Y/NNo

Year Built1952

Year Built SourcePublicRecords

ZoningLARD1.5

Exterior for 728 Vernon Avenue

Building Area Total2766.0

Crops Included Y/NNo

FencingPrivacy, Wood

Foundation DetailsSlab

Horse Y/NNo

Irrigation Water Rights Y/NNo

Lot FeaturesRectangularLot

Lot Size Acres0.1102

Lot Size Area4802.0

Lot Size SourceAssessor

Lot Size UnitsSquareFeet

Number of Buildings2

Number of Separate Electric Meters1

Number of Separate Gas Meters1

Number of Separate Water Meters1

Open Parking Y/NNo

Road Frontage TypeCityStreet

Road Surface TypePaved

SpaNo

Total Parking3.0

Water SourcePublic

Additional Details

Price History

First Team Client Services

Price $2,899,000

MLS#SR24075666

List Date 04/16/2024

Property Type Multi-Family

Phone 714.964.3311

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