The Agency Represents Buyer & Pardee Properties Seller In $2.14M Venice Multifamily Sale

A 5-unit property at 440 Howland Avenue in Venice was sold for $2.14 million. Situated along the Venice Canals, the property features a refurbished front house and four additional units, with two of the units currently vacant. This presents a significant rental potential for the buyer, with the property offering a current cap rate of 4.2%.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $2,135,000
• Units: 5
• Price per Unit: $427,000
• Square Footage: 1,926
• Price per Square Foot: $1,109
• Address: 440 Howland Avenue
• Market: Venice

The buyer's representation in this deal was Sarah Knauer and Victoria Velazquez from The Agency, while the seller was represented by Samantha Kinnon and Tamra Pardee from Pardee Properties.