Under Contract In Escrow — Venice, California
Six ocean-view residences, steps from the sand • 18 Sunset Ave, Venice, CA 90291
The Asset
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 ocean views, an amenity effectively impossible to replicate in Venice’s supply-constrained coastal core. Built in 1973 with a diversified mix of studio, one-bedroom, and two-bedroom/two-bath residences, the one- and two-bedroom units feature gas fireplaces, and the building is 100% occupied. The average tenancy is 15 years, including two residents of 24+ years.
18 Sunset Ave is boardwalk adjacent, steps to the sand and the Ocean Front Walk, with dependable in-place income and meaningful embedded upside as units turn to market. A buyer at the offered price also benefits from a lower property-tax reassessment versus the currently higher assessed value, an immediate, structural lift to going-forward cash flow.
Property Highlights
Boardwalk adjacent, steps to the sand and the Ocean Front Walk. One of Venice’s most coveted residential blocks.
100% of the building enjoys beautiful ocean views, an amenity that simply cannot be replicated under today’s coastal constraints.
Nine garaged parking spaces across five garages, four doubles and one single. Parking of any kind is a genuine rarity this close to the ocean.
Soft story seismic retrofit completed, LADBS Certificate of Compliance, 2018. Full tear off re-roof over new sheathing, permit finaled 2020. The grounds were fully renewed in 2026 with new drip irrigation, sod, trees and shrubs.
Fully occupied, with an average tenancy of 15 years, including two residents of more than 24 years.
Units 2, 3, 5, and 6: separately metered, tenant-paid gas and electricity. Owner pays water/sewer, common-area electricity, and utilities for Units 1, 4 and the laundry.
Two studios, two one-bedrooms, and two two-bed/two-bath residences, with gas fireplaces in the one- and two-bedroom units.
Current annual property taxes are $45,957. A buyer at the offered price reassesses to approximately $30,588, a saving of roughly $15,369 a year. That lifts go-forward NOI from day one.
Not in a FEMA Special Flood Hazard Area, Alquist-Priolo fault zone, or Seismic Hazard Zone (Natural Hazard Disclosure report, 8/2/2026)
RSO registration current through 6/30/2027 (LAHD)
Every unit enjoys ocean views, an amenity effectively impossible to replicate in Venice’s supply-constrained coastal core.
The view from a unit
Gallery
Interior images were photographed in 2021 while the unit was vacant. Current condition may differ. No representation is made as to the present interior condition of any unit.
The parcel between the property and the beach (601 S Ocean Front Walk, APN 4286-028-001) is privately owned commercial land, currently in use as a surface parking lot. It is the subject of an open City of Los Angeles planning application, Case No. DIR-2026-2032-CDP-SPPC-MEL-HCA, proposing a four-story mixed-use building. As of September 30, 2026, City records show the case as active, with no acceptance for review, no hearing date, no decision and no approved documents. The application requires a Coastal Development Permit, Mello Act review and Venice Coastal Specific Plan compliance. Because the site lies within the Dual Permit Jurisdiction Area, any development would also require separate California Coastal Commission authorization. Seller and Broker make no representation as to the status, validity or outcome of any application, the future use of that parcel, or the continued availability of views from the subject property. Buyer to independently investigate. See Note 4 of the offering memorandum.
Financial Summary
Dependable in-place income from a fully occupied building, with meaningful embedded upside as units turn to market, and a structural tax advantage at close. At the offered price the building prices at $547 per square foot, below every income comparable shown.
In place cap rate and NOI are shown two ways. The first (4.30% cap, $107,404 NOI) reflects the post sale reassessed property taxes a buyer would pay at the offered price. The second (3.69% cap, $92,035 NOI) reflects the seller’s current tax basis.
Building level unit mix, scheduled income, and tenancy. The building is 100% occupied and every unit is under the RSO.
| Unit Mix | Units | Approx SF Each |
|---|---|---|
| Studio / 1 BA | 2 | 490 |
| 1 BR / 1 BA | 2 | 795 |
| 2 BR / 2 BA | 2 | 995 |
| Total | 6 Units | 4,560 SF |
Building total. In place versus pro forma at market.
| Scheduled Income | Per Month | Per Year |
|---|---|---|
| In place | $15,837 | $190,045 |
| Pro forma | $21,700 | $260,400 |
| Embedded upside | $5,863 | $70,355 |
As of 10/12/26.
| Measure | Detail |
|---|---|
| Occupancy | 100% occupied, 6 of 6 units |
| Lease structure | All six tenancies month to month, original terms expired |
| Average tenancy | 15.1 years |
| Longest tenancies | Two residents in place over 24 years |
| Rent regulation | All six units under the City of Los Angeles RSO |
| Maximum allowable increase | 3.0% annually |
Unit level rents are published on the MLS. An abstracted rent roll is provided with the due diligence package on a signed confidentiality agreement, and a certified rent roll in escrow. Building level figures shown are complete and unmodified. Unit square footage is approximate.
Pro forma reflects all six units at market rents with a 3% vacancy allowance and normalized operating expenses, including the lower property-tax reassessment at the offered price. Water/sewer and owner-paid electricity are estimates based on LADWP’s recorded usage at published rates. The LADWP account was not transferred to current ownership at the 2021 purchase; catch-up charges posted in October 2026 are partly disputed by seller, and charges for the seller’s period of ownership are to be addressed by seller. Actual costs (and the resulting net operating income and capitalization rate) may differ materially. Current figures are normalized, excluding non-recurring items including mold inspection and remediation, tenant relocation assistance, casualty repair, remediation following a Los Angeles Housing Department SCEP inspection and, separately, a tenant habitability complaint, the 2026 landscaping renovation, and capital replacements. Insurance is paid directly by ownership and does not appear in the property manager’s statements. All financial projections are pro forma estimates for illustrative purposes only and do not represent current or future performance. Square footage approximate, estimated from multiple sources. Buyer is solely responsible for independently verifying all information (including utility accounts, meter configurations, and operating costs) and conducting thorough due diligence.
Sale Comparables
17 Sunset Ave sold off-market and was entered in the MLS for comparable purposes only: a one-day marketing period, related parties disclosed, and no operating income reported. It is included here as a same-block land and location reference and is excluded from any comparative average.
At $547.15 per square foot the subject prices below all three income comps, which sold at $652.00, $624.31, and $695.74. On price per unit it sits between them at $415,833, against $400,000 at 32 Horizon, $454,500 at 19 Wavecrest, and $343,000 at 45 Paloma. The subject’s average unit is larger at 760 SF, against 728 SF at 19 Wavecrest, 614 SF at 32 Horizon, and 493 SF at 45 Paloma. The two measures should therefore be read together.
Venice, California
Venice occupies a rare position in the Los Angeles multifamily market: perpetually undersupplied, structurally resistant to new construction, and anchored by one of the most economically powerful tenant bases in the country.
The neighborhood draws high-income creative and technology professionals who pay premium rents for authentic, character-rich homes within walking distance of the beach. The property sits at the heart of the Silicon Beach corridor (minutes from Snap’s Santa Monica headquarters and Google’s Playa Vista campus), while Abbot Kinney Boulevard, consistently ranked among the best streets in America, is a short walk away.
The Offering
18 Sunset is currently under contract and in escrow, and the seller is not accepting backup offers. The offering memorandum remains available for reference: complete financials, rent roll, income and expense analysis, sale comparables, and property detail. No registration required.
View Offering Memorandum
In Escrow
The property is under contract and the seller is not accepting backup offers. Leave your details and Brian will contact you directly if 18 Sunset becomes available again.
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