Profitable Short-Term Rental Triplex in Venice Beach for Sale – Bungalows by Open Air Homes
These Triple, Standalone Bungalows are an Ideal Short-Term Rental Property
These triplet California craftsman bungalows are proof that good things come in threes!
This home is being listed by Amber McClain at the Stephanie Younger Group at $3,095,000.
These three sunny bungalows were purchased and renovated back in 2015 as a traditional short-term rental property. They hosted happy guests who loved the feeling of living in a classically California 1920s bungalow, whether for a few nights or a month.
In 2018, Los Angeles changed their short-term rental laws, preventing RSO (Rent Stabilization Ordinance) properties from renting short-term. It was at this time that the owner decided to keep the home on-platform and switch to Month+ rentals.
We were apprehensive at first, but 2018 coincided with a major shift we see today. We found that there was a large demand from renters looking to work remotely from someone else’s home.
This spacious property is ideal for an investor who’d like to double their income potential while staying in one of the three homes. Remote management is also a great option, allowing owners to monetize all three bungalows.
Upon noticing the interest that these bungalows garnered, we shifted entirely to hosting longer stays.
On average, guests stay 2.5 months in the home, but often much longer. We call this type of travel Month+, but it’s also known as medium-term or extended stay rentals.
Generating Passive Income with this Double or Triple Short-Term Rental
With this home, we stack rentals back-to-back, leaving only a one-week gap between bookings. This allows us to achieve about 95% occupancy. It’s ideal for travelers who often have business in Los Angeles and need a comfortable, private, and charming place to stay.
At Open Air Homes, we’re placing more focus on developing our Month+ portfolio of homes. We believe we will continue to see a major shift in this type of travel over the next 10 years. Guests who stay in these homes for longer periods of time typically respect the community and home more.
We believe these bungalows will continue to experience tremendous demand and high occupancy. They are the perfect home for the buyer who vacations in Venice Beach often. Owners may opt to block off certain periods of time to be able to enjoy one of the bungalows, while the others monetize year-round.
Each bungalow currently has a guest in residence, and their leases must be carried out upon sale. Open Air Homes is committed to continuing our excellent management of these homes. We are also happy to let the new buyer take over their management.
Please reach out to us at this link, or contact Amber’s team here to schedule a viewing. A P&L statement, as well as occupancy, is available for qualified and interested buyers.
Located one block from trendy Abbot Kinney and four blocks to world-famous Venice Beach, these quintessentially Socal bungalow homes are perfectly spaced on an oversized, western-facing corner lot with a pergola privacy fence, oversized wooden gate, and towering Japanese pine.
They radiate beachy comfort and retreat-style privacy while offering breathtaking updates, including hardwood floors, casement windows, oversized glass and tile showers, contemporary fixtures, updated appliances, and Tesla solar panels.
Character abounds with decorative white-brick fireplaces, crown molding, and built-in wet bars.
The classic galley kitchens offer double farmhouse sinks, double windows, and quartz countertops as well as convenient stacking washer and dryer sets.
Communal in spirit, and private in design, each beach bungalow’s private entrance welcomes with Spanish tile and twin traveler’s palms.
Enjoy authentic indoor-outdoor living with boho-chic gravel space as well as stamped concrete ideal for swinging in hammocks and enjoying rosy-pink black-eyed Susan vines, bougainvillea, and geraniums. This property’s rental demand, prime location, and embedded value make it a premiere acquisition opportunity.
Schedule a Viewing
This coveted property is still on the market–but not for long. Click here to schedule a tour today.
About Open Air Homes
Open Air Homes has a number of successful short-term and Month+ rental properties in our portfolio of 50+ homes in Southern California that are not currently for sale but are available off-market.
If you are looking for a successful short-term rental property with a review base and a successful Airbnb listing already intact, please reach out to us directly at this link.