315 Rose Ave, Venice, CA 90291

Aug 1

Written By Jake Glaser

4-Plex in Prime Venice | Vacant Renovated Unit, New Roof & Steps from the Beach

Sold: $1,450,000

$362,500/Unit

$392.74/SF

3.83%Cap Rate

16.07 GRM

The Deal Story

Sale Price: $1,450,000

Units: 4

Property Type: Multifamily

Unit Mix: (4) 2BR/1BA

Buyer Type: Investor

Seller Situation: Trust sale; first sale in over 40 years

Result: 6 offers received. Despite difficulties given below-market rents, led the most experienced buyer with a large Venice presence through a 30-day escrow.
Special Features: One Vacant ground-floor unit; Rents ~75% below market; new roof (2024)

Case Study Summary

315 Rose Ave is a fourplex in the heart of the Venice neighborhood of Los Angeles, comprised of four 2BD/1BA units. At the time of sale three of the four units were occupied by long-term tenants, and rents for the occupied units ran approximately 75% below market. One unit was delivered vacant. Glaser Group brought the property to market as a trust sale, and generated six competitive offers within the first two weeks of marketing.

The property had been held by the same family for over 40 years before the subsequent generation decided to sell. The buyers are growing their presence in Venice after acquiring two other properties along Rose Ave by the beach in the past two years. Glaser Group represented the Seller and the Buyer and coordinated escrow through to closing in just 30 days.

Property Highlights

4-plex in prime Venice, Los Angeles; Built in 1954
3,692 SF of living space on a 6,476 SF LARD1.5 lot
(4) 2BD/1BA units across 2 stories, averaging 923 SF
(1) renovated unit delivered vacant, offering an immediate market rent, or perfect for an owner-user
(4) garage parking spaces & (1) uncovered in the rear for tenant use
New roof installed across the entire structure in 2024
Located under a ten minute walk to the sand, along a stretch of Rose Ave spotted with popular cafes, dining, and boutique retail in either direction from the beach up to Lincoln Blvd
Just North of the Main St commercial thoroughfare and half a mile from famous Abbot Kinney Blvd
Held & operated by the same family for 40+ years