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$3,550,000

20% Min Down
7 Bed
5 Bath
3,408 Sqft
$1,042 / Sqft
Listed 16 weeks ago, Built in 1910
Common Charges
No Data
Property Taxes
No Data
Mortgage
$15,073
Total Monthly Payment
$15,073
Est. Rental Income
$0
Cap Rate
0.00%
Description
Located steps from the sand in Venice Beach, the FAB 5 (20-22 Horizon Ave) presents a unique investment opportunity producing an amazing cash flow and a potential long-term new construction exit strategy of a 4 lot subdivision.  The FAB 5 consists of a 4 unit multi-family building and a Single Family home located on adjacent parcels.  With potential for 80% vacancy and immediate upside, a new owner can operate these assets at approximately a 18.32GRM and a 3.66% CAP rate while pulling permits for a new construction development. Opportunity awaits for the savvy investor seeking a prime Westside investment in the heart of Silicon Beach.  Buyer and Buyer's agents to verify and rely on their own investigations of the zoning, permits, development potential, income, expenses, and all aspects of the properties.

The manager has listed the unit size as 3408 square feet.
Features & Amenities
Assigned
Price History
Date Event Price Source
Recent Inactive Public Records
2019-03-06 Listed $3,350,000 Listing Records
2019-03-04 Status Change Off Market Listing Records
2019-01-26 Status Change Off Market Listing Records
2019-01-12 Price Drop $3,550,000 Listing Records
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