ASSUMABLE CHASE LOAN $3.05M @ 4.67% UNTIL 10/2029... 2201 Ocean Avenue is a phenomenal 10-unit multifamily investment opportunity located in an ultra prime location of Venice Beach. Built in 1975, the property is comprised of ten expansive two-bedroom townhouse units, averaging over 1,400 square feet each. Each two-bedroom / two-bathroom… Read More unit spans three stories, including a ground-floor primary bedroom & bathroom, second-floor living room & kitchen with 20+ foot vaulted ceilings, and third-floor lofted bedroom & bathroom. Each townhouse unit also comes with a balcony and a private rooftop deck with sweeping views of the Pacific Ocean, the Venice Canals and the Los Angeles skyline. The units have seen various upgrades including upgraded kitchens and bathrooms in select units, and a combination of hardwood floors & carpeting throughout. The 14,025 square foot property sits on a 7,969 square foot corner lot zoned LARD1.5. 2201 Ocean Ave is being offered with extremely attractive assumable financing, with a $3.05M loan available with Chase fixed at 4.67% interest until October 2029. Each unit at 2201 Ocean Ave comes with two tandem, gated tuck-under parking spaces (20 total), and the property also features a community laundry room (machines owned by Seller). Additionally, there are 11 large storage rooms which are rented out for additional income. The property has seen significant recent capital improvements including a new hot water heater in 2024, the resealing of all balconies in 2023, new exterior paint in 2022, a full termite tenting in 2021, soft-story retrofitting in 2017, and a full roof replacement in 2016. The building also features full copper water lines per the previous Seller (Buyer to verify), and all gas meters have the required earthquake gas shutoff valves installed already. 2201 Ocean Ave offers a huge amount of upside to potential buyers with current rents averaging just $3,460 per month. For comparison, similarly sized & renovated 2-bedroom units in the area are asking $6,000+ per month, with over 70% upside on the current rents. The large townhouse floor plans with private balconies, ample parking and rooftop decks also lend themselves well to a potential condo or TIC conversion strategy for savvy investors. Steps away from the famous Venice Canals and just a few blocks from both the beach and Abbot Kinney Blvd, 2201 Ocean Ave is situated on an ultra prime corner of Venice Beach. Tenants can easily walk to various high-end shops, restaurants, bars & grocery stores including Erewhon, Gjelina, Great White, Ggiata, Intelligentsia Coffee, Lululemon, Gran Blanco and more. With its prime location, large multi-level floor plans, private outdoor space and incredible assumable financing terms, 2201 Ocean Ave is a truly generational investment opportunity in Venice Beach, CA. Read Less
Courtesy of Lyon Stahl Investment Real Estate, Inc. 310-425-9838
Listing Snapshot
Days Online
42
Last Updated
Property Type
Other
Beds
20
Square Ft.
14,025
Lot Size
0.18 Acres
Year Built
1975
MLS Number
25535073
30 Days Snapshot Of 90291
$2.67M
-9%
(avg) sold price
22
+37%
homes sold
72
+14%
(avg) days on market
Snapshot
Area Map
Additional Details
Appliances & Equipment
None
Building
14,025 sq ft, Built in 1975, Levels: Three Or More, Attached
Cooling
None
Disclosures
None
Exterior Features
Deck(s), Porch - Front, Roof Top Deck, Balcony
Fireplaces
None
Floors
Hardwood, Carpet
Garage
Covered Parking, Tandem
Water Features
Water: Public
Heating
Wall
Laundry
Community
Lot
LotAcreage: 0.183, LotSizeArea: 7,971, Alley Paved, Front Yard, Canal, Corner Lot
Miscellaneous
None
Parking
CoveredParking: 20, TotalParking: 20
Pool
PoolYN: False, None
Property
NumberOfUnits: 10, ViewDescription: Canal, Ocean, City, City Lights, ViewYN: 1, Zoning: LARD1.5
Roof
Flat
Spa
Has spa, None
Utilities
Central Water Heater, Gas
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