1304 Pacific Ave, Los Angeles, CA 90291

Property Description

1304 Pacific Avenue represents a rare opportunity to acquire a largely untouched, 7-unit value-add multifamily property in one of the most desirable beachfront pockets of Venice, California. Situated on an approximately 8,400-square-foot parcel just one block from the sand, the property offers new ownership a true blank canvas to execute a comprehensive interior and exterior renovation program and reposition the asset for the modern Westside renter. in 1926, the two-story building totals approximately 3,802 gross square feet and features a well-balanced unit mix of one studio, four one-bedroom units, and two two-bedroom, one-bathroom units. Construction consists of a concrete foundation, wood framing, stucco exterior, and a flat roof, with individual wall-unit HVAC and copper plumbing throughout (buyer to verify). On-site laundry is available via one washer and one dryer, though the property does not offer dedicated parking. With limited prior renovations, the building remains largely original, providing investors with the opportunity to deliver a differentiated, cohesively renovated product into a submarket defined by a limited supply of updated rental housing. In-place rents currently reflect approximately 17% to 20% loss-to-lease, translating to significant embedded upside even before accounting for the additional premiums achievable through a well-executed renovation program. Current occupancy stands at roughly 86%, with one vacant studio unit offering an immediate opportunity to push rents to market on turnover. Beyond its value-add fundamentals, the property benefits from an exceptional, highly walkable coastal location. Residents enjoy immediate proximity to the Venice Beach boardwalk, along with convenient access to Abbot Kinney Boulevard, Rose Avenue, and the broader retail, dining, and entertainment amenities that define the neighborhood's bohemian character. The surrounding submarket has seen limited new housing supply for decades, a dynamic that has historically supported strong rental rate growth and sustained demand from a renter base drawn to the area's lifestyle and scarcity of inventory. The location also places the property within the broader "Silicon Beach" corridor stretching from Santa Monica through Playa del Rey, home to a dense concentration of major technology, entertainment, and media employers including Google, Snapchat, YouTube, Facebook, and TikTok, among many others. This employment base has fueled an influx of affluent renters seeking housing near the coast, further reinforcing long-term demand fundamentals for well-located, renovated multifamily product in Venice. Altogether, 1304 Pacific Avenue offers investors a compelling combination of irreplaceable coastal location, meaningful embedded rental upside, and a genuine value-add opportunity in one of the Westside's most supply-constrained and enduringly desirable rental markets.