18 Sunset Ave

Venice, CA 90291

$3,899,000

7 UNIT MULTI-FAMILY APARTMENTS

OCEANFRONT VIEWS FROM ALL UNITS

LARGE UNITS - LARGE FRONT YARD

PRIME VENICE LOCATION

LAUNDRY ROOM

LARGE GARAGE SPACES

Property Description

          This property is located in beautiful Venice, CA, and features 7 apartments all looking out to the oceanfront views. When this property was acquired, it was extremely distressed with spider webs, broken windows, leaking plumbing, bad electrical, etc. In fact, this property was so distressed and generating such low income with no vacancies, that the bank almost didn’t fund the owner’s loan, because they were not sure this property was worth buying, as it had many issues. 

          It was managed by a property management company that didn’t change anything for many years. Our team worked really hard to develop this property, to ensure that it’s the nicest looking building on the block. Some buildings take more than others to develop until it’s stabilized, this property took a long time to get into proper shape, as it was falling apart.

Amenities

Development information

          “This property was extremely distressed, with no vacancies (which concerned the bank), unhappy tenants (who abused their rights as the previous owners didn’t manage it properly), and most importantly it had very low income, and looked abandoned and broken from all angles.

          After a detailed and costly development for the owner, this property is stabilized, profitable, with happy tenants, and is currently one of the nicest-looking properties on the block. 

          We are proud of the hard work our team put in, and the results we were able to achieve. This was not an easy project to develop, but we did it, and did it well!”

Property location

old/original gallery

construction gallery

After Development

video gallery

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