657 San Juan Ave, Venice
3 +1 Units
657 San Juan Ave, Venice, CA 90291, USA
Current Cap Rate
Market Cap Rate
LOCATION, LOCATION, LOCATION! Lyon Stahl Investment Real Estate is pleased to present 657 San Juan Ave in Venice. Located just up the street from Abbot Kinney Blvd and less than a mile from the beach, this charming triplex is tucked away in a quiet residential neighborhood, perfect for an owner-user and investor alike. The property consists of (2) 1-Bed/1-Bath Units that are currently VACANT, (1) Studio Unit, and a converted 3-car garage with ¼ Bath, currently operating as a creative studio/workshop, historically leased for up to $2,200/month. There are two loquat trees on the property that produce abundant fruit, a purple jacaranda tree in the front yard, and a large palm tree in the back yard that receives maintenance every other year.
The back unit was fully renovated in 2001 and the front unit fully remodeled in 2006. Middle unit has undergone minor upgrades, including a brand-new refrigerator and fixtures. The roof was replaced and upgraded to metal within the last 10 years, and the garage roof has been patched. The windows were all updated to double-pane vinyl, the back exterior was painted around 2004, the middle unit in 2015, & the front unit exteriors were painted in the last year. The gates were all painted in the last year & the shared fence on the east side is brand new. Most of the plumbing has been updated in the last decade, combination of Copper and PVC. The water heaters have been upgraded to Tankless.
The back unit has a large private yard with a brand-new privacy gate. There is additional outdoor space in front of the garage with a sliding gate that locks. There is a laundry shed on-site with space for a W/D with water hook-up & power. Gas & electric are metered separately. Tenants pay their own gas & electric. Landlord pays water & garage/exterior electric. There is a fourth electric meter for the garage that is not currently in use, ideal for a potential garage conversion/ADU build. Do not miss this opportunity to acquire a unique income property in the highly sought-after Venice market, steps from the infamous Abbot Kinney Blvd.