559 Sunset Ave, Venice, CA 90291

$6,400,000
CLOSED
ACTIVE
$6,400,000
CLOSED
ACTIVE

Property Highlights

Year Built:
1964
Units:
14
Price / Unit:
$457,143
Price / SqFt:
$600.88
Property Type:
Multifamily
Building SqFt:
10,651
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Property Details

Property Overview

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559 Sunset Ave is a 14-unit multifamily investment opportunity located in the heart of Venice, CA, just minutes from the beach. Built in 1964, this 10,651 SF property sits on an 11,278 SF lot and is zoned RD1.5-1, offering both current income and long-term development potential. The unit mix includes (2) one-bed, one-bath units, (11) two-bed, one-bath units, and (3) RTI-ready ADUs. The property offers 17 parking spaces and is subject to Los Angeles rent control.

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With a current cap rate of 3.84% and a pro forma cap rate of 8.49%, this property presents a strong value-add opportunity through lease-ups and ADU activation. Located in one of LA’s most desirable rental markets, it is ideal for investors seeking growth in income and long-term appreciation.

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Key Property Details

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  • Location: 559 Sunset Ave, Venice, CA 90291
  • ‍Lot Size: 11,278 SF
  • ‍Building Size: 10,651 SFUnits: 14 existing units + 3 ADUs (RTI)
  • ‍Year Built: 1964
  • ‍Zoning: RD1.5-1
  • ‍Rent Control: Yes (LARSO)
  • ‍Parking: 17 spaces
  • ‍Unit Mix:
    • (2) One-bed, one-bath
    • (11) Two-bed, one-bath
    • (3) ADUs (2x 500 SF, 1x 500 SF 2-bed)

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Investment Highlights

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  • ADU Upside: (3) RTI ADUs ready to be activated for additional income
  • Below-Market Rents: Significant rental upside—average rent currently $1,991 vs. market average $3,594
  • Pro Forma Cap Rate of 8.49%: With modest improvements and full lease-up, NOI more than doubles
  • Venice Location: Highly desirable rental market with strong demand and limited supply
  • Strong Unit Mix: Predominantly large 2-bedroom units, ideal for long-term tenants
  • Off-Street Parking: 17 spaces, rare in this beachside location

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    Neighborhood and Accessibility

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    Located in Venice Beach, one of LA’s most vibrant and walkable neighborhoods, 559 Sunset Ave provides tenants with access to top-tier lifestyle amenities, employment hubs, and beachside recreation. The area commands premium rents due to its proximity to Abbot Kinney, Rose Ave, and Silicon Beach tech employers.

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    Market Trends and Financial Potential

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  • Current Income: $33,842/month ($406K annually)
  • Pro Forma Income: $61,100/month ($733K annually)
  • Projected NOI: $543,112 (Pro Forma)
  • Projected Cash-on-Cash: 9.52% (Pro Forma)
  • Financing Available: Bank loan up to ~$2.8M; DCR of 1.20; interest rate ~6.0%

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    For more information and to schedule a viewing, please contact:

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    Taylor Avakian

    Founder, The Group CRE

    First Vice President, Lyon Stahl

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