29 Navy St, Los Angeles, CA 90291

Madison Partners is pleased to offer investors the exceptional opportunity to acquire the 100% fee-simple interest in 29 Navy Street, a premium 25-unit multifamily property located in the world-renowned Venice Beach area of Los Angeles, California (the “Property”). Built in 1924 and completely renovated in 2015 / 2018 to cutting-edge specifications, the Property is situated on 0.13 acres in a central, highly-walkable location just steps from Venice Beach and the area’s multitude of amenities and attractions. The Property features an ideal unit mix comprised of sixteen studio units, six 1-bedroom units, and three 2-bedroom units, with below-market average in-place rents, allowing for substantial future upside scenarios in the continued low vacancy environment. Nearly $2 million has been invested into Property improvements since 2015 to create a unique and highly-desirable unit physical program featuring high-character Venice Beach charm with exposed brick interiors, wide-plank flooring, stainless steel appliances, and premium fixtures and finishes throughout. Moreover, the property features a penthouse unit with an ocean view rooftop patio, an extremely rare and coveted amenity in this prime beachside location, allowing for attainment of premium rents.