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49 Wavecrest Ave
For Sale $2,200,000 ($554.99 per Sq Ft)
$2,200,000 ($554.99 per Sq Ft)
- 7 Units
- 3,964 Sq Ft
- 3,185 Sq Ft
- Unknown Cap Rate
Description
Located just one block from the sand at Venice Beach, this rare two parcel offering combines seven highly desirable units in one of Los Angeles' most iconic coastal neighborhoods. The unit mix includes one 1BR/1.5BA, four 1BR/1BA units, one studio, and a standalone 1BR/1BA cottage situated on the adjacent parcel at 1007 Pacific .In addition to its premier location, the property provides exceptional privacy and security with fenced and gated entry. A private, fenced courtyard at the front of the property serves as a shared outdoor space, while the rear area offers ample room for tenants to park and secure bicycles, the preferred mode of transportation at the beach. At the list price, the asset delivers a 4.34% cap rate with a pro forma cap rate of 5.43%, supported by competitive pricing metrics of $314,000 per door and $555 per square foot, strong for a beach adjacent property . There may also be potential to subdivide the parcels for resale or owner/user occupancy, subject to verification with the City of Venice.
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Amenities
Garage
Pool
Garden
Security System
Internet
Telephone
Heating
Fireplace
Balcony & Patio
TV / Cable
Laundry
Hardwood Floors
Spa
Air Conditioning
Solar Power
Floor Plan
Great Views
Natural Light
Quiet
Water View
Elevator
Guest Unit(s)
Furnished
220 Volt
Property Details
| List Price | $2,200,000 |
| Property Type | Multi-Family |
| Usable Sqft | 3,964 |
| Number of Stories | 2 stories |
| Parking Spots | 0 spots |
| Year Built | 1907 |
| Last Sold | Unknown |
| Sold Price | Unknown |
| APN # | 4226003029 |
| MLS # | 26811603 |
| Property ID | 322813573 |
| Lot Sqft | 3,185 |
| Zoning | LARD1.5 |
| Total Units | 7 |
| Days on Market | 28 |
| Original List Price | $2,200,000 |
| Date Updated | May 05, 2026 |
| Date Created | April 27, 2026 |
| Unit # | Beds | Baths | Current Rent | Proforma Rent |
| Unit #1 | 1 | 1.00 | $1,746 | $2,495 |
| Unit #2 | 1 | 2.00 | $2,265 | $2,600 |
| Unit #3 | 1 | 1.00 | $1,618 | $2,495 |
| Unit #4 | 1 | 1.00 | $2,158 | $2,495 |
| Unit #5 | 0 | 1.00 | $2,038 | $2,100 |
| Unit #6 | 1 | 1.00 | $1,952 | $2,495 |
| Unit #7 | 1 | 1.00 | $2,175 | $2,700 |
| Gross Income (Yr) | $ 162,865 |
| Operating Expenses | $ 67,493 |
| Net Income (Yr) | $ 95,372 |
| Cap Rate | 4.34% |
Listing Provided By
Keith Moret an agent of Lyon Stahl Investment Real Estate, Inc.. Lic #01802527
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