Ten 3-Story Townhouses Steps from Venice Canals w/ Assumable Chase Loan

Sold: $4,750,000

Property Highlights

10 townhome style units adjacent to the Venice Canals - constructed in 1975
Closed at $475,000 per unit, $338.68 PPSF, 6.02% Cap Rate, 11.02 GRM
All units are expansive, 3-story townhouses with 2-bedrooms & 2-bathrooms across 1,400 SF
Buyer paid all commissions & closing costs and assumed the existing Chase loan at 4.67% fixed through 2029
Recent upgrades included: a new water heater in 2024, balconies resealed in 2023, new exterior paint in 2022, termite tented in 2021, soft-story retrofit completed in 2017, EQ valves installed, copper plumbing, and the roof replaced in 2016
All units include private balconies and rooftop decks with sweeping views of the Pacific Ocean and the LA skyline
Two tandem parking spaces per unit; 20 covered spaces in total
Property has on-site laundry facilities and storage rooms located in the garage
Well suited for a future condo or TIC conversion

The Deal Story

The Glaser Group is proud to announce the successful closing of 2201 Ocean Avenue in Venice, CA—a generational 10-unit multifamily asset just four blocks from the beach and steps from the iconic Venice Canals.

This wasn’t just another listing—it was a legacy. The Seller, who inherited the property, had owned it for years. Over the last three, The Glaser Group stayed closely connected, offering market insight, strategic advice, and guidance through changing conditions. When it came time to sell, she turned to us to lead the process with experience, precision, and professionalism.

The Buyer, represented by Cameron Samimi of Lyon Stahl, is a seasoned multifamily operator who saw a rare opportunity to reposition an irreplaceable coastal asset. With plans to upgrade the building and explore a future condo or TIC conversion, they assumed the Seller’s Chase loan and covered all broker commissions, escrow, and title fees—showing just how strong demand still is for well-located, value-add deals.

Offered for the first time in nearly 20 years, the building is made up of ten massive 3-story townhome units averaging over 1,400 square feet. Each unit features 2 bedrooms, 2 bathrooms, 20+ foot vaulted ceilings with exposed wood beams, private balconies, and rooftop decks with panoramic views of the Pacific Ocean and L.A. skyline. Add in 20 gated parking spaces, 11 rentable storage rooms, copper plumbing, and earthquake shutoff valves, and you have a rare combination of scale, location, and long-term upside.

The investment story was clear: over 70% upside in rents, assumable 4.67% fixed-rate debt through 2029, and a blue-chip location in one of L.A.’s most desirable submarkets.

The property had also been well maintained, with recent capital improvements including a new water heater (2024), resealed balconies (2023), exterior paint (2022), termite tenting (2021), a soft-story retrofit (2017), and full roof replacement (2016).

If you’re considering a sale or purchase of a similar asset, contact The Glaser Group at (310) 230-5157. We’ll help you navigate the deal with strategy, skill, and results.