808 Venice Blvd.Offered at $2,595,000

JESPER INGLISCalRE# 01259756jesper@1jesper.com(310) 863-3034

$2,400,000

Coldwell Banker Commercial NRT

1608 Montana Ave. Santa Monica, CA 90403

Existing Silicon Beach Cash Cow + Future Development Opportunity

Prime development opportunity in the heart of Silicon Beach on burgeoning Venice Blvd. Potential to build approximately 6,400 square feet (see schematic for (4) 3 bedroom, 3 bath townhomes approximately 1,700 square feet each). Property currently generates $112,200 in annual revenue or can be delivered vacant. Existing tenants pay all utilities, landlord responsible for property taxes and gardener. 96’ feet of frontage on Venice Blvd just East of Abbot Kinney and alley access.

808 Venice Blvd.Prime Development Opportunity

$2,400,000

The property information herein is derived from various sources that may include, but not be limited to, county records and the Multiple Listing Service, and it may include approximations. Although the information is believed to be accurate, it is not warranted and you should not rely upon it without personal verification. Real estate agents affiliated with Coldwell Banker Residential Brokerage are independent contractor agents and are not employees of the Company. ©2018 Coldwell Banker Residential Brokerage. All Rights Reserved. Coldwell Banker Residential Brokerage fully supports the principles of the Fair Housing Act and the Equal Opportunity Act. Owned by a subsidiary of NRT LLC. Coldwell Banker, the Coldwell Banker Logo, Coldwell Banker Global Luxury and the Coldwell Banker Global Luxury logo service marks are registered or pending registrations owned by Coldwell Banker Real Estate LLC.

Property Overview

Address: 808 Venice Boulevard, Venice, CA 90291Building Size: 2,526 square feetLot Size: 5,630 square feetYear Built: 1939Zoning: LAR3Property Description: Recently remodeled and fully leased duplex in premier Venice neighborhood. Spacious, bright units offer remodeled, modern kitchens and baths as well as individual washer/dryer and rear yards. Tenants pay all utilities; landlord’s only responsibilities are property tax and gardener. Good owner/user, income producing investment property or development opportunity (see attached feasibility study featuring one potential development scenario). Incredible location in the heart of Silicon Beach just blocks from the world famous Venice beach and only blocks to Snapchat and Abbot Kinney.

Current Configuration and Rents (Actual): 806 Venice: 2 Bedroom, 1 Bath rented for $3,350/month. 808 Venice: 4 Bedroom, 2 Bath rented for $6000/month.

808 Venice Blvd.Prime Development Opportunity

$2,400,000

The property information herein is derived from various sources that may include, but not be limited to, county records and the Multiple Listing Service, and it may include approximations. Although the information is believed to be accurate, it is not warranted and you should not rely upon it without personal verification. Real estate agents affiliated with Coldwell Banker Residential Brokerage are independent contractor agents and are not employees of the Company. ©2018 Coldwell Banker Residential Brokerage. All Rights Reserved. Coldwell Banker Residential Brokerage fully supports the principles of the Fair Housing Act and the Equal Opportunity Act. Owned by a subsidiary of NRT LLC. Coldwell Banker, the Coldwell Banker Logo, Coldwell Banker Global Luxury and the Coldwell Banker Global Luxury logo service marks are registered or pending registrations owned by Coldwell Banker Real Estate LLC.

Projected Development Cost/Revenue

Basement Plan

Architectural Schematic

Land: $2,595,000Construction: $1,600,000 (6,400 buildable square feet x $250 PSF above ground)Basement: $500,000 ($100 PSF including excavation, shoring, waterproofing, drainage)Soft Costs: $200,000 (architect, engineering, permitting)TOTAL: $4,895,000

REVENUE: 4 townhomes at sale price ~$1,800,000 each = $7,200,000 $7,200,000 - 5% ($360,000) in sales costs = $6,800,000 in proceeds - $4,895,000 = $1,905,000 profit

808 Venice Blvd.Prime Development Opportunity

$2,400,000

Ground Floor Plan

Architectural Schematic

The property information herein is derived from various sources that may include, but not be limited to, county records and the Multiple Listing Service, and it may include approximations. Although the information is believed to be accurate, it is not warranted and you should not rely upon it without personal verification. Real estate agents affiliated with Coldwell Banker Residential Brokerage are independent contractor agents and are not employees of the Company. ©2018 Coldwell Banker Residential Brokerage. All Rights Reserved. Coldwell Banker Residential Brokerage fully supports the principles of the Fair Housing Act and the Equal Opportunity Act. Owned by a subsidiary of NRT LLC. Coldwell Banker, the Coldwell Banker Logo, Coldwell Banker Global Luxury and the Coldwell Banker Global Luxury logo service marks are registered or pending registrations owned by Coldwell Banker Real Estate LLC.

808 Venice Blvd.Prime Development Opportunity

$2,400,000

Second Floor Plan

Architectural Schematic

The property information herein is derived from various sources that may include, but not be limited to, county records and the Multiple Listing Service, and it may include approximations. Although the information is believed to be accurate, it is not warranted and you should not rely upon it without personal verification. Real estate agents affiliated with Coldwell Banker Residential Brokerage are independent contractor agents and are not employees of the Company. ©2018 Coldwell Banker Residential Brokerage. All Rights Reserved. Coldwell Banker Residential Brokerage fully supports the principles of the Fair Housing Act and the Equal Opportunity Act. Owned by a subsidiary of NRT LLC. Coldwell Banker, the Coldwell Banker Logo, Coldwell Banker Global Luxury and the Coldwell Banker Global Luxury logo service marks are registered or pending registrations owned by Coldwell Banker Real Estate LLC.

808 Venice Blvd.Prime Development Opportunity

$2,400,000

Third Floor Plan

Architectural Schematic

The property information herein is derived from various sources that may include, but not be limited to, county records and the Multiple Listing Service, and it may include approximations. Although the information is believed to be accurate, it is not warranted and you should not rely upon it without personal verification. Real estate agents affiliated with Coldwell Banker Residential Brokerage are independent contractor agents and are not employees of the Company. ©2018 Coldwell Banker Residential Brokerage. All Rights Reserved. Coldwell Banker Residential Brokerage fully supports the principles of the Fair Housing Act and the Equal Opportunity Act. Owned by a subsidiary of NRT LLC. Coldwell Banker, the Coldwell Banker Logo, Coldwell Banker Global Luxury and the Coldwell Banker Global Luxury logo service marks are registered or pending registrations owned by Coldwell Banker Real Estate LLC.

808 Venice Blvd.Prime Development Opportunity

$2,400,000

Parcel Map

The property information herein is derived from various sources that may include, but not be limited to, county records and the Multiple Listing Service, and it may include approximations. Although the information is believed to be accurate, it is not warranted and you should not rely upon it without personal verification. Real estate agents affiliated with Coldwell Banker Residential Brokerage are independent contractor agents and are not employees of the Company. ©2018 Coldwell Banker Residential Brokerage. All Rights Reserved. Coldwell Banker Residential Brokerage fully supports the principles of the Fair Housing Act and the Equal Opportunity Act. Owned by a subsidiary of NRT LLC. Coldwell Banker, the Coldwell Banker Logo, Coldwell Banker Global Luxury and the Coldwell Banker Global Luxury logo service marks are registered or pending registrations owned by Coldwell Banker Real Estate LLC.

808 Venice Blvd.