18 Sunset Ave, Los Angeles, CA, 90291

For Sale

Listed by Brian Ging from Realty Network

Source: San Diego MLS #SR26162423

18 Sunset Ave, Los Angeles, CA, 90291

$2,495,000

3600 sq. ft.

MultiFam

•

30+ days on the market

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About this property

18 Sunset Ave is a rare six-unit, ocean-view apartment building on one of Venice Beach's most coveted residential blocks. It's boardwalk-adjacent and just steps from the sand. Every one of its six units enjoys beautiful ocean views, an amenity effectively impossible to replicate in Venice's supply-constrained coastal core. Built in 1973 and diversified across two studios, two one-bedrooms, and two two-bedroom/two-bath residences. The one- and two-bedroom homes feature gas fireplaces, and the property is 100% occupied by a stable, long-tenured resident base, averaging nearly fifteen years in residence, including two residents of more than two decades. All six units are subject to the City of Los Angeles Rent Stabilization Ordinance. Its mandatory soft-story seismic retrofit is complete, with a City of Los Angeles LADBS Certificate of Compliance issued in 2018. On-site garage parking with 9 spots (a genuine rarity this close to the ocean) adds tenant appeal. Utility responsibility is split: Units 2, 3, 5 and 6 are separately metered and tenant-paid for both gas and electricity, while the owner pays water and sewer for the entire building, common-area electricity, and the gas and electricity serving Units 1, 4 and the laundry. In-place scheduled rent is $190,045 annually, delivering reliable income today with meaningful embedded upside as units turn to market over time. Set in the heart of the Silicon Beach corridor, the property is minutes from major technology and media employers, Santa Monica's Third Street Promenade, and Marina del Rey, with Abbot Kinney Boulevard, the Venice Canals, and the Ocean Front Walk all a short stroll away. Venice remains one of Southern California's most persistently undersupplied coastal rental markets. Walk Score 94, Bike Score 100. At the offered price the building prices at $547 per square foot, below every income comparable in the offering memorandum, and a buyer is reassessed downward from the current assessed value of $3,789,350, an estimated $15,369 per year in property-tax savings. Square footage and figures are approximate and from sources deemed reliable, owner-paid water, sewer and electricity are estimated from LADWP's recorded usage, LADWP catch-up charges are partly disputed and to be addressed by seller, buyer to verify all information. The adjacent parcel (APN 4286-028-001) is privately owned with a pending City Planning application (DIR-2026-2032), no representation as to future views.

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