NOT LISTED FOR SALE

18 Sunset Ave Venice, CA 90291

Venice Neighborhood
6 Beds
8 Baths
4,560 Sq Ft
3,600 Sq Ft Lot

Last Sold April 28, 2021

Last sale price $3,500,000 $768 Per Sq Ft

39 Days on Market

Highlights

  • Ocean View
  • Fireplace
  • Radiant Heating System
  • Venice High School Rated A
  • Laundry Room

About This Home

As of April 2021

Location Location Location. Venice Beach, CA. Fabulous 6-unit multi-residential income property with ocean views. Two 2-bedrooms, two 1-Bedroom, and two Studio units. Possible owner/user units including the prime upper 2BR, 2 full BA (2 masters) with gas fireplace, dining room, full kitchen plus 2 balconies and beach views. 5 garages and 9 total parking spaces. On site laundry. Great Venice beach location.

Last Agent to Sell the Property

Gary Dean Ruebsamen

Berkshire Hathaway HomeServices California Properties License #01273059 Listed on: 02/18/2021

Berkshire Hathaway HomeServices California Properties

Co-Listed By

Traci Eiler

Berkshire Hathaway HomeServices California Properties License #01316504

Last Buyer's Agent

Brian Ging

Realty Network License #01843240

Realty Network

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1973

Lot Details

  • 3,600 Sq Ft Lot
  • Two or More Common Walls
  • Density is up to 1 Unit/Acre

Parking

  • 5 Car Garage

Home Design

  • Property Attached

Interior Spaces

  • 4,560 Sq Ft Home
  • 2-Story Property
  • Fireplace
  • Ocean Views
  • Laundry Room

Bedrooms and Bathrooms

  • 6 Bedrooms
  • 8 Bathrooms

Utilities

  • Radiant Heating System

Listing and Financial Details

  • Tenant pays for electricity, gas
  • Legal Lot and Block 1 / 6
  • Tax Tract Number 2734
  • Assessor Parcel Number 4286023001

Community Details

Building Details

  • 4 Leased Units
  • Rent Control
  • 6 Separate Electric Meters
  • 6 Separate Gas Meters
  • 6 Separate Water Meters
  • Insurance Expense $2,833
  • Maintenance Expense $9,229
  • Water Sewer Expense $3,973
  • Operating Expense $16,035
  • Gross Income $114,944
  • Net Operating Income $114,944

Additional Features

  • 6 Units
  • Laundry Facilities

Property Details

Home Type

Multi-Family

Year Built

Built in 1973

Lot Details

0

Parking

5

Listing Details

  • Assessments: No
  • CapRate: 2.90
  • Property Attached: Yes
  • View: Yes
  • Water Sewer Expenses: 3973.00
  • Zoning: LARD1.5
  • Property Type: Residential Income
  • Parcel Number: 4286023001
  • Year Built: 1973
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Fireplace: Yes
  • Stories: 2
  • Common Walls: 2+ Common Walls
  • Levels: Two
  • Price Per Square Foot: 767.54

Exterior Features

  • View: Ocean
  • Pool Private: No

Garage/Parking

  • Garage Spaces: 5.00
  • Total Parking Spaces: 5.00

Utilities

  • Heating: Yes
  • Laundry: Yes
  • Heating Type: Radiant
  • Laundry Features: Common Area
  • Sewer: Public Sewer
  • Water Source: Public

Condo/Co-op/Association

  • Senior Community: No
  • Community Features: Sidewalks

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: 0-1 Unit/Acre
  • Lot Size Sq Ft: 3600.00
  • Lot Size Acres: 0.0826

Rental Info

  • Tenant Pays: Electricity, Gas

Multi Family

  • Average1 Bed Area: 800 Square Feet
  • Average2 Bed Area: 1000 Square Feet
  • Average Studio Area: 500 Square Feet
  • Gross Income: 114944.00
  • Gross Multiplier: 22.39
  • Gross Operating Income: 115776.00
  • Gross Scheduled Income: 187776.00
  • Insurance Expense: 2833.00
  • Lot Size Area: 3600.0000 Square Feet
  • Maintenance Expense: 9229.00
  • Net Operating Income: 114944.00
  • Number Of Separate Electric Meters: 6
  • Number Of Separate Gas Meters: 6
  • Number Of Separate Water Meters: 6
  • Number Of Units Leased: 4
  • Number Of Units Total: 6
  • Number With Dishwasher: 2
  • Number With Range: 6
  • Operating Expense: 16035.00
  • Rent Control: Yes
  • Total Actual Rent: 9158.00
  • Total Expenses: 16035.00

Tax Info

  • Tax Block: 6
  • Tax Census Tract: 2734.02
  • Tax Lot: 1
  • Tax Tract Number: 2734

Range of Values:

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Value Increase
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Percent Increase
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Adjusted for Inflation
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Average Value
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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft Prior Sale
04/28/2021 04/28/21 Sold $3,500,000 -3.3% $768 / Sq Ft
03/29/2021 03/29/21 Pending -- -- --
02/18/2021 02/18/21 For Sale $3,620,000 0.0% $794 / Sq Ft
10/18/2019 10/18/19 Sold $3,620,000 -6.9% $794 / Sq Ft View Prior Sale
08/15/2019 08/15/19 Pending -- -- --
04/15/2019 04/15/19 For Sale $3,890,000 -- $853 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $45,468 $3,788,510 $3,030,809 $757,701
2024 $45,468 $3,714,227 $2,971,382 $742,845
2023 $44,587 $3,641,400 $2,913,120 $728,280
2022 $42,517 $3,570,000 $2,856,000 $714,000
2021 $43,854 $3,657,503 $3,152,323 $505,180
2020 $44,321 $3,620,840 $3,120,000 $500,840
2019 $25,088 $2,062,617 $1,811,871 $250,746
2018 $24,992 $2,022,191 $1,776,345 $245,846
2017 $24,413 $1,981,717 $1,741,515 $240,202
2016 $23,858 $1,942,861 $1,707,368 $235,493
2015 $23,513 $1,913,678 $1,681,722 $231,956
2014 $23,612 $1,876,193 $1,648,780 $227,413
Source: Public Records

Agents Affiliated with this Home

  • Gary Dean Ruebsamen

    Seller's Agent in 2021

    Gary Dean Ruebsamen

    Berkshire Hathaway HomeServices California Properties

    (818) 974-7325

    2 in this area

    31 Total Sales

    Gary Dean Ruebsamen
    Section Image
  • Traci Eiler

    Seller Co-Listing Agent in 2021

    Traci Eiler

    Berkshire Hathaway HomeServices California Properties

    (818) 692-4195

    1 in this area

    30 Total Sales

    Traci Eiler
    Section Image

  • B

    Buyer's Agent in 2021

    Brian Ging

    Realty Network

    (949) 581-6885

    1 in this area

    2 Total Sales

    Brian Ging
    Section Image

  • Z

    Seller's Agent in 2019

    Zachary Grant

    Central Realty Advisors Inc

    Section Image

  • M

    Buyer's Agent in 2019

    Mikhail Siretskiy

    Big Block Realty, Inc.

    Section Image
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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: SR21031290

California Regional Multiple Listing Service (CRMLS)
California Los Angeles County Venice 90291 Venice

18 Sunset Ave, Venice, CA

Not Listed for Sale

MultiFamily

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California Regional Multiple Listing Service (CRMLS) The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.

Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information

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