Amir Araghi Acquires Multifamily Property On Abbot Kinney Blvd In Venice For $1.8M

Located at 2339 Abbot Kinney Blvd in Venice, this multifamily property was recently sold in a closed transaction. The property consists of three units and spans a total of 1,792 square feet. The sale price for this property was $1,817,800, resulting in a price per unit of $605,933 and a price per square foot of $1,014. The transaction took place on March 25, 2022.

Summary of transaction details

• Property Type: Multifamily
• Sale Price: $1,817,800
• Units: 3
• Price Per Unit: $605,933
• Square Footage: 1,792
• Price Per Square Foot: $1,014
• Address: 2339 Abbot Kinney Blvd.
• Market: Venice

The buyer of this property was Amir Araghi, and the seller was David Sun. The transaction was facilitated by Filip Niculete, Glen Scher, and Arash Memary from the LAAA Team at Marcus & Millichap. The brokers involved in this deal represented their respective clients to ensure a successful transaction.

Additional details provided by the broker include the property's characteristics and potential for redevelopment. Built in 1921, the property is zoned LAR3 and has a total land area of 4,859 square feet. It also has a high walk score of 89 and a bike score of 95, making it a desirable location. As part of the redevelopment potential, the garage can be converted into an accessory dwelling unit (ADU).