Property Detail

Description

Investor Opportunity – Prime Development & Value-Add Asset Exceptional investment opportunity to reposition and maximize the land value of a 9,292 sq. ft. lot featuring a standalone retail building with frontage on Venice Boulevard. This high-visibility corner property benefits from strong street exposure and convenient access, located in a high-traffic area with excellent long-term growth potential. The property is zoned LAC1 and was originally configured as eight (8) retail units with eight (8) bathrooms. It is currently operated as five (5) units, offering a value-add opportunity to reconfigure back to the original eight-unit layout. All five units are fully occupied with a mix of lease terms. The property includes addresses 2030, 2032, 2034, 2038, and 2042. The current gross annual income is $ 78,600.00. Operating expenses are minimal, with annual expenses approximately $ 11,908.00. Each unit is separately metered for electricity, with tenants responsible for their own power usage.