Chip McDaniel Sells Multifamily Duplex At 1918 Canal Street In Venice For $1.63M

The property asset involved in this transaction is a multifamily duplex located at 1918 Canal Street in Venice. The sale price was $1,630,000, encompassing 2 units with a price per unit of $815,000. The total square footage of the property is 2,107, resulting in a price per square foot of $773.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $1,630,000
• Units: 2
• Price per Unit: $815,000
• Square Footage: 2,107
• Price per Square Foot: $773
• Seller: Chip McDaniel
• Seller's Representative: Justin Seigel - ADR Preferred Business Properties

This transaction generated significant market interest, leading to multiple offers and ultimately closing above the asking price of $1,595,000. A notable element that attracted buyers was an approved ADU permit with plans already established, which enhanced the property's investment potential.