14 Brooks has virtually no competition in the rental market, for a potential renter, nor in the investment property market, for a potential Buyer. It is "one of one". With OVER $3,500,000 of recent capital improvements, the asset is state-of-the-art in every way - and mere steps to world-famous sand and surf. It is superior to anything on the market. In a Venice location where "the lifestyle" is paramount, the asset is made up of 14 ultra-luxury Studio units with never-before-seen amenities, that are too numerous to mention, here. All topped with a massive, 2,500+ square foot, furnished, rooftop deck with a firepit and BBQ area. Grossing almost $650,000 year one. The offered 3.3% cap rate is superior to 5 and 10 year bond returns - with the additional benefits of capital appreciation and a haven for tax write-offs, unlike bonds. It is not only an excellent investment option for a real estate investor, but an investment option that competes for a stock and bond investor's dollar, as well....and wins. A perfect investment? I think so.
Listed by Brice Head, Marcus & Millichap,
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Data last updated 11:31 PM UTC, 8/19/22