Fix n Flip 4 Unit Cosmetic Rehab in Prime Venice, California Location

218 6th Ave, Venice, CA 90291

$2,350,000 After Repair Value -
$1,875,000 Asking Price -
$100,000 Cost of Repairs =
$375,000 Potential Profit

Property Details

Asking Price $1,875,000

After Repair Value $2,350,000

Costs of Repairs $100,000

Potential Profit $375,000

Living Area 1223 ft2

Property Type 4-Plex

Bedrooms 0

Bathrooms 4

Half Bathrooms N/A

Parking 0

Listed with Agent 0

Property Description

4 plex consisting of 4 studio units, each with a full kitchen, full bath, and patio. Each unit is approximately 308 square feet, and has a total of 1,223 square feet on a 4,223 square foot lot, zoned RD2. The 4th unit is not permitted, however, we have confirmed with Los Angeles City Planning that the unit can be streamlined permitted, and we have the permit process guidelines available upon request.This is a fix n flip opportunity, the projected ROI is 8.28% .

Repairs Needed

Cosmetic repair, replace counter tops in bathrooms and in two of the kitchens, new flooring, reface cabinets in kitchen, possibly add pony wall to divide main room into a sitting area and bedroom. Repairs apply to all 4 units.

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