Listed by EXP Realty of Greater Los Angeles
$3,500,000
32 N Venice Blvd
Details
Property Type Multifamily
Sub Type Apartment Building, Sober living
Square Footage 2,608
Net Rentable (SqFt) 2,608
Units 4
Beds 7
NOI $200,826
Occupancy 100%
Tenancy Single
Lease Type NNN
Lease Expiration 10/31/2028
Rent Bumps Yes
Lease Options One 3 Year Option to Extend (FMV)
Year Built 1964
Lot Size (SqFt) 2,491
Parking Spaces spaces
Investment Type Stabilized
Multifamily | 4 Units
Marketing description
32 N Venice Blvd presents a rare opportunity to acquire a fully leased 4-unit multifamily asset in the heart of Venice Beach. The property is secured by a long-term master lease to a Sober Living operator, delivering stable, passive income with minimal landlord responsibilities.
With 3% annual rent increases, strong guarantor backing, and a prime coastal location, this asset offers a bond-like investment profile with built-in yield growth.
Investment highlights
- 100% occupied with single tenant (master lease)
- Long-term Stability Lease secured through October 2028
- One 3 Year Option to Extend (FMV)
- 3% annual rent increases
- Tenant responsible for maintenance & operations
- Minimal landlord responsibilities (structure + roof only)
- Security deposit + three personal guarantors
- Total landlord expenses ≈ $35,000/year
- Projected CAP grows to ~6.36%
Listing Contacts
Listed by EXP Realty of Greater Los Angeles
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$200,826.00
$16,735.50/mo
Valuation Metrics
0
DSCR
5.74%
Cap Rate
5.74%
ROI
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