
Venice, California 90291
Analysis of 1034 Pleasantview, Venice, California 90291 is currently available with a list price of $1,900,000. The property maintains a Good Condition Rating (78/100), reflecting solid structural condition with well-maintained systems. The property presents an attractive opportunity for buyers seeking a move-in ready home. Located in a high-demand neighborhood within the Venice Unified School District, this asset is categorized as a low-risk, high-reward acquisition suitable for both Buy-and-Hold Investors and Owner-Occupants willing to undertake light renovation work.
Property is move-in ready.
While built in 1987 (37 years old), the property is well-maintained with significant recent capital improvements including a new roof (2022), Hardie Board siding, and dual-pane windows. These updates to major systems and the building envelope, combined with the 'well-maintained' description, place it in the Good category despite its chronological age.
Built in 1987, the property is exempt from the restrictive Los Angeles City Rent Stabilization Ordinance (RSO), allowing for greater flexibility in rent increases under statewide AB 1482.
The property features three large 3-bedroom, 2-bathroom units in the heart of Venice, a rare and high-demand configuration that commands premium rents near Abbot Kinney and the beach.
Significant upgrades including a new roof (2022), Hardie Board exterior siding, and dual-pane windows enhance the building's curb appeal while reducing immediate deferred maintenance costs.
The wide spread between the current 4.76% CAP rate and the 8.22% Pro Forma suggests that current rents are substantially below market value, requiring active management or tenant turnover to realize full potential.
With a large building footprint and six parking spaces occupying most of the 4,634 square foot lot, there is minimal private or communal outdoor space for tenants.
Situated in the heart of Venice, 1034 Pleasantview Ave presents the opportunity to acquire a well-maintained three-unit multifamily property in one of Los Angeles' most desirable coastal neighborhoods. Built in 1987, the property consists of three spacious 3-bedroom, 2-bathroom units totaling 3,720 square feet on a 4,634 square foot lot. The property's larger floor plans and newer construction provide a highly desirable housing option in a market where demand for quality rental housing remains strong. Offered at a 4.76% Current CAP Rate and 14.59 Current GRM, the property presents investors with the opportunity to acquire a well-located 1980s-constructed asset that is not subject to Los Angeles City Rent Control (only AB 1482 Statewide Rent Control). The property offers strong long-term income growth potential, achieving a projected 8.22% Pro Forma CAP Rate and 9.60 Pro Forma GRM. Recent capital improvements further enhance the property's appeal, including Hardie Board exterior siding, dual-pane windows, and a new roof installed in 2022. Additional amenities include in-unit laundry in all three units and gated carport parking with six total parking spaces. Built in 1987, the property offers a newer construction profile than much of the surrounding multifamily inventory, contributing to its long-term appeal and operational efficiency. Conveniently located just moments from Abbot Kinney Boulevard, Rose Avenue, Venice Beach, and major Westside employment centers, this offering presents an attractive opportunity to acquire a well-positioned multifamily investment in one of Southern California's most sought-after rental markets.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 0.0 | 8.0 |
| Baths | 0.0 | 4.0 |
| Square foot | 3,720 | 2,552 |
| Lot Size | 4,634 | 4,061 |
| Price | $1.90M | $1.74M |
| Price per sq ft | $511 | $750 |
| Built year | 1987 | 1942 |
| HOA | $0 | $0 |
| Days on market | 49 | 243 |
Jul 22, 2026
$1,900,000
Initial Listing
Nov 8, 1995
$240,000
Public Record