Venice Multifamily Real Estate Market Overview
Venice, California (Venice Beach) is one of Los Angeles’ most iconic and highly sought-after neighborhoods for real estate investors and homeowners alike. Known for its unique blend of beachfront lifestyle, creative culture, and strong rental demand, Venice offers an exceptional mix of lifestyle and long-term investment potential on the Westside of Los Angeles.
The neighborhood’s crown jewel, Abbot Kinney Boulevard, is lined with trendy restaurants, boutique shops, art galleries, and wellness destinations, driving consistent foot traffic and premium rental rates.
Venice features two of LA’s most recognizable landmarks — the vibrant Venice Beach Boardwalk and the historic Venice Canals. The area appeals to a diverse tenant base, including young professionals, creatives, tech workers, and affluent families who value the coastal lifestyle and walkability.
Bordered by Santa Monica to the north, Marina del Rey to the south, and Mar Vista to the east, Venice benefits from excellent access to major freeways, LAX, and the entire Westside. Its limited supply of housing combined with high demand has made it a resilient and high-performing multifamily market, known for strong appreciation and premium rents.
2025 Venice Multifamily Market Statistics at a Glance
Venice, California Annual Multifamily Apartment Building Sales Statistics*
Buildings Sold: 19
Avg. Sale Price: $2,585,526
Avg. Price/Unit: $518,731
Avg. Months to Sale: 7.6 mos
Avg. Price/SF: $579
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It is imperative to understand how rent control and Measure ULA exposure will impact the value of your Venice apartment building
Venice Multifamily Market Overview 2026
Venice is a highly desirable coastal neighborhood in the City of Los Angeles known for strong renter demand, extremely limited supply, and lifestyle appeal (Abbot Kinney, the boardwalk, canals, and Silicon Beach). Cap rates typically range from 4.0% to 5.25%, with price per unit commonly $300,000–$550,000+ depending on quality, location, and upside potential.
Most buildings are smaller 2- to 15-unit properties (often older courtyard-style or character-rich), many subject to LA’s Rent Stabilization Ordinance (RSO). Buyers include high-net-worth individuals, 1031 exchangers, owner-users, and long-term investors seeking irreplaceable coastal assets.
Venice Rent Control and Measure ULA
As part of the City of Los Angeles, Venice properties are subject to the Los Angeles Rent Stabilization Ordinance (RSO). Most multi-unit buildings with certificates of occupancy dated before October 1, 1978 are covered. The allowable RSO rent increase for the period July 1, 2026 through June 30, 2027 is 3% (under the updated formula of 90% of CPI with a 1% floor and 4% ceiling; utility and dependent adders have been eliminated).
Buildings not covered by the RSO may still fall under AB 1482 statewide protections (generally 5% + CPI, currently 8.7% for the Los Angeles area for increases effective August 1, 2026–July 31, 2027). Measure ULA does apply in Venice. As a City of Los Angeles neighborhood, sales of qualifying properties (generally $5 million and above) are subject to the Measure ULA transfer tax surcharges (4% on $5M–$10M sales; 5.5% on $10M+).
How to Sell a Venice Apartment Building
Venice benefits from limited supply, strong lifestyle-driven buyer demand, and high long-term appreciation potential. However, its strict RSO system significantly impacts cash flow growth and buyer underwriting for older buildings, and Measure ULA can affect net proceeds on higher-priced sales. Sellers of long-held properties must also navigate low tax basis, depreciation recapture, and potential 1031 exchange planning.
An experienced multifamily broker who understands Venice’s unique coastal dynamics, Los Angeles RSO rules, Measure ULA implications, and the premium Westside/1031 buyer pool can help you evaluate pricing and the optimal path to maximize your net proceeds.
Venice Multifamily Market Statistics
Average Rent vs Vacancy Rate- Historical & Estimated
2025 Q3: Venice, California Multifamily Average Rent: $3,527 Average Vacancy Rate: 3.8%Average GRM and Cap Rate- Historical
2025: Venice, California multifamily apartment sales average GRM: 14.1 , Cap Rate 6.0%Number of Multifamily Buildings Sold- Historical
2025: Venice, California multifamily apartment sales total buildings Sold: 19Average Price/Unit and Price/SF- Historical
2025: Venice, California multifamily apartment sales average Price/Unit Sold: $518,731 Price/SF Sold: $579Historical and estimated market statistics for the Venice, California multifamily apartment building submarket. The graphs above show the average Price/Unit, Price/SF, GRM, Cap Rate, Rent and Vacancy for Venice multifamily apartment buildings for the years 2020-2025. *All data has been obtained from CoStar. Jake Plewa, the Taksa Investment Group and ReMax Commercial cannot guarantee the accuracy of the data above. The graphs and statistics are for information purposes only. Frequently Asked Questions: Venice Apartment Buildings
What is the typical cap rate and price per unit in Venice?
Cap rates in Venice generally range from approximately 4.0% to 5.25%. Price per unit commonly falls between $300,000 and $550,000+, depending on building condition, unit mix, location (especially proximity to the beach, canals, or Abbot Kinney), and quality. Smaller lifestyle assets and those with upside often command premiums.
Is Venice under rent control?
Yes. As part of the City of Los Angeles, most Venice multi-unit buildings built before October 1, 1978 are covered by the Los Angeles Rent Stabilization Ordinance (RSO). The allowable increase for July 1, 2026–June 30, 2027 is 3%. Some buildings may instead fall under AB 1482.
Does Measure ULA apply to apartment sales in Venice?
Yes. Measure ULA is a City of Los Angeles ordinance and applies to qualifying property sales in Venice (and other LA City neighborhoods).
How do I sell an apartment building in Venice?
Work with a broker who understands Venice’s strong coastal fundamentals, the Los Angeles RSO system, Measure ULA transfer tax implications, the local and 1031 buyer pool, and how to accurately present both in-place income and long-term upside (including potential ADU or redevelopment value). Precise pricing and clear communication of the regulatory framework are especially important in this market.
Disclaimer The information on this page is provided for general informational purposes only and does not constitute legal, financial, tax, or investment advice. Jake Plewa, the Taksa Investment Group, and RE/MAX Commercial make no representations or warranties regarding the accuracy, completeness, or reliability of any data, statistics, graphs, or market information presented. Market conditions change, and past performance is not indicative of future results. You should independently verify all information and conduct your own thorough due diligence, including consulting qualified professionals, before making any decisions related to the sale or purchase of an apartment building.
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