NOT LISTED FOR SALE
6 Beds
8 Baths
4,560 Sq Ft
3,598 Sq Ft

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

3,600 Sq Ft Lot

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
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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

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

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: SR21031290

California Regional Multiple Listing Service (CRMLS)
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