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2508 Naples Ave, Venice, CA 90291
$4,033,333
2508 Naples Ave, Venice, CA 90291View this property at 2508 Naples Ave, Venice, CA 90291
2508 Naples AveVeniceCA90291
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Property Description
Only $233K per door for prime Venice! We are pleased to present for sale a generational multi-family portfolio on the famed Westside of world-renowned Los Angeles. The 58 apartment units are spread across two properties that have been owned by the same family for six decades. The properties may be purchased individually or collectively. The smaller of the assets comprises 18 units in a single U-shaped structure at 2508 Naples Avenue in Venice, CA. The property was built in 1949 and is located in the commercial heart of Venice within the economic powerhouse of Silicon Beach. Situated southwest of the intersection of Lincoln and Venice Boulevards nestled among multimillion dollar single-family homes, 2508 Naples is at the crossroads connecting the famous beachside community to its Westside neighbors. Naples exudes charm from the inviting courtyard and old-world second-floor catwalk to the well-laid out interior floorplans. There is on-site parking for 11 cars with a newly refurbished laundromat directly next door along Venice Boulevard. The property has a newer roof as well as new electrical subpanels and main breakers. The neighborhood of Venice is a perennial favorite among both locals and out-of-town transplants. From an investment standpoint, the portfolio offers significant opportunity. Current rents at Naples average $2.73 per square foot while prevailing market rents for renovated units are in the range of $4.47 per square foot. This means a comprehensive rehabilitation and renovation plan would yield the savvy investor enormous income gains.
Full Property Details
Full Property Details for 2508 Naples Ave
General
- Sold For: $4,033,333
- Status: Closed
- Type: Multi-Family
- MLS ID: 23-317053
- Added to Site: 244 day(s) ago
Rooms
Bathrooms
- Total Bathrooms: 18
Bedrooms
- Total Bedrooms: 18
Additional Information
- Other Features: None
Parking
- Garage Description: Other
Location
- Area: Venice
- County: Los Angeles
- Cross Streets: Naples at Harding
- Driving Directions: Naples at Harding
Heating & Cooling
- Cooling Type: Wall/Window
- Heating Type: Wall
Structural Information
- # Buildings: 1
- Stories/Levels: 2
- Square Feet: 9,268
- Sq. Ft. Source: Vendor Enhanced
- Year Built: 1949
- Year Built Source: Vendor Enhanced
Unit Information
- Units in Complex: 18
- Unit Type: 2106
Unit 1
- Total Bathrooms: 1
- Bedrooms: 1
Additional Structures
- Other Structures: None
Lot Features
- Lot Size (Acres): 0.2664
- Lot Size: 11606
- Lot Size Source: Vendor Enhanced
- Zoning: LAC2
Financial Considerations
- Price Per Sq. Ft.: $453.17
- Assessment Year: 1949
Disclosures and Reports
- Disclosures/Reports: As Is
- APN: 4237-017-003
Listed and Sold by Remax Commercial & Investment Realty, Robert Renshaw
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Schools
Schools serving 2508 Naples Ave
School District:Los Angeles Unified School District
Rating | Name | Grades | Distance |
---|---|---|---|
810 Coeur D Alene Ave, Venice, CA 90291 | K-5 | 0.2 mi | |
2224 Walgrove Ave, Los Angeles, CA 90066 | 6-8 | 0.6 mi | |
13000 Venice Blvd, Los Angeles, CA 90066 | 9-12 | 0.6 mi |
Disclaimer: School ratings provided by
GreatSchools. Ratings are on a scale of 1-10.
Learn more about GreatSchools ratings.
School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.
Price & Sales History for 2508 Naples Ave
Date
Details
Price
Change
Source
12/08/2023
Sold
$4,033,333
-3.97%
MLS
10/01/2023
Listed
$4,200,000
—
MLS
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
2508 Naples Ave, Venice, CA 90291 (MLS# 23-317053) is a Multi-Family property that was sold at $4,033,333 on December 08, 2023. Want to learn more about 2508 Naples Ave? Do you have questions about finding other Multi-Family real estate for sale in Venice? You can browse all Venice real estate or contact a Coldwell Banker agent to request more information.