559 Sunset Ave, Venice, CA 90291

Property Overview

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559 Sunset Ave is a 14-unit multifamily investment opportunity located in Venice, CA, one of Los Angeles’ most desirable coastal rental markets. Built in 1964, the property totals approximately 10,651 square feet on an 11,278 square foot RD1.5-zoned lot and benefits from a desirable unit mix consisting primarily of two-bedroom units. Five units will be delivered vacant at close, allowing a new owner to immediately execute a renovation and lease-up strategy without waiting for tenant turnover. Current rents average approximately $2,489 per month, while market rents are projected at roughly $3,857 per month, providing a clear pathway to increased cash flow through strategic upgrades and repositioning. In addition, the property includes three ADUs currently in plan check, offering a streamlined path to increasing density from 14 to 17 units and unlocking additional long-term income potential.

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Key Property Details

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• Location: 559 Sunset Ave, Venice, CA 90291
• ‍Lot Size: 11,278 SF
• ‍Building Size: 10,651 SF‍
• Units: 14 existing units + 3 ADUs (RTI)
• ‍Year Built: 1964
• ‍Zoning: RD1.5-1
• ‍Rent Control: Yes (LARSO)
• ‍Parking: 17 spaces
• ‍Unit Mix:
  • (2) One-bed, one-bath
  • (11) Two-bed, one-bath
  • (3) ADUs (2x 500 SF, 1x 500 SF 2-bed)

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Investment Highlights

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• Immediate Upside from Five Vacant Units
  Five units will be delivered vacant at close, allowing investors to begin renovations and lease-up immediately without waiting for tenant turnover. This creates a clear path to rapidly increase income in the early stages of ownership.
• Significant Rent Growth Potential
  Current rents average approximately $2,489 per month, while projected market rents average roughly $3,857 per month, representing substantial upside as units are upgraded and stabilized at market levels.
• Strong Stabilized Returns
  The property is offered at $5,200,000 ($371K/unit | $488.22/SF) with a 5.22% current cap rate and a projected 9.87% stabilized cap rate as rents move toward market levels and operational efficiencies are implemented.
• ADU Expansion Opportunity
  Three ADUs are currently in plan check, providing a streamlined path to increasing density from 14 units to 17 units and creating additional long-term income potential in a high-demand rental submarket.
• Desirable Venice Coastal Location
  Venice remains one of Los Angeles’ most supply-constrained coastal markets, supported by strong demographics, premium lifestyle amenities, and proximity to Silicon Beach employment hubs.
• Parking Advantage in a Coastal Market
  The property includes 17 off-street parking spaces, a valuable amenity in a dense beachside neighborhood where parking is often limited.

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Neighborhood and Accessibility

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Located in Venice, one of Los Angeles’ most vibrant and desirable coastal neighborhoods, 559 Sunset Ave offers tenants walkable access to the area’s premier lifestyle amenities including Abbot Kinney Boulevard, Rose Avenue, and Venice Beach. The property benefits from proximity to major Silicon Beach employment hubs such as Google, Snap, and numerous technology and creative companies, supporting strong tenant demand and premium rental pricing. Residents also enjoy convenient access to Lincoln Blvd, Venice Blvd, and the I-10 Freeway, providing connectivity to Santa Monica, Culver City, and the broader Westside employment corridor.

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Market Trends and Financial Potential

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• Current Income: $34,842/month ($418,104 annually)
• Pro Forma Income: $57,000/month ($684,000 annually)
• Projected NOI: $513,340 (Pro Forma)
• Cap Rate: 5.22% current / 9.87% stabilized

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For more information and to schedule a viewing, please contact:

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Taylor Avakian

Founder, The Group CRE

First Vice President, Lyon Stahl