NOT LISTED FOR SALE

Estimated Value: $2,134,000 - $2,961,000

6 Beds
4 Baths
3,398 Sq Ft
$716/Sq Ft Est. Value

Last Sold March 03, 2022

Last sale price $2,250,000 $662 Per Sq Ft

Est. 8% increase in value since last sale

Current estimated payment $15,128/month

47 Days on Market

Highlights

  • No HOA
  • Laundry Room
  • Level Lot
  • Venice High School Rated A
  • Fenced
  • Wall Furnace

About This Home

As of March 2022

DESIRABLE VENICE BEACH FOURPLEX WITH 41% POTENTIAL UPSIDE IN RENTS. Excellent location walkable to the beach, The Venice Boardwalk, World-Class dining and entertainment, and across the street from Google’s Venice campus | Walk Score: 93. One unit will be delivered without tenants *underwriting reflects proforma rent for non-occupied unit. Property features two Two-Bedroom and Two One Bedroom with laundry in each unit. Large 6,435 sqft lot | Potential to add up to 2 ADU’s per State of California standards. buyer to verify.

Last Agent to Sell the Property

Dan Lewin

Younglewin Advisors, Inc. License #01932742 Listed on: 10/28/2021

Co-Listed By

Daniel Gomez

Younglewin Advisors, Inc. License #02081392

Last Buyer's Agent

Jason Vogel

Jason Vogel, Broker License #01815890

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $28,652

Year Built

  • Built in 1953

Lot Details

  • 6,436 Sq Ft Lot
  • Two or More Common Walls
  • Fenced
  • Needs Fence Repair
  • Level Lot

Parking

  • 4 Open Parking Spaces
  • 4 Car Garage

Home Design

  • 3,398 Sq Ft Home
  • Quadruplex

Bedrooms and Bathrooms

  • 6 Bedrooms
  • 4 Bathrooms

Additional Features

  • Laundry Room
  • Wall Furnace

Listing and Financial Details

  • Tax Lot 45
  • Assessor Parcel Number 4286002017
  • $537 per year additional tax assessments

Community Details

Overview

  • No Home Owners Association
  • 4 Units

Building Details

  • 3 Leased Units
  • Rent Control
  • 5 Separate Electric Meters
  • 5 Separate Gas Meters
  • 1 Separate Water Meter
  • Electric Expense $532
  • Fuel Expense $532
  • Gardener Expense $600
  • Insurance Expense $1,529
  • Maintenance Expense $2,800
  • Other Expense $2,620
  • Pest Control $200
  • Trash Expense $532
  • Water Sewer Expense $532
  • New Taxes Expense $26,395
  • Operating Expense $35,820
  • Gross Income $1,100
  • Net Operating Income $77,495

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$28,652

Year Built

Built in 1953

Lot Details

0

Parking

4

Listing Details

  • CapRate: 3.52
  • Property Attached: Yes
  • Water Sewer Expenses: 532.00
  • Zoning: LARD1.5
  • Property Sub Type: Quadruplex
  • Property Type: Residential Income
  • Gardener Expense: 600.00
  • Parcel Number: 4286002017
  • Year Built: 1953
  • Special Features: None

Interior Features

  • Common Walls: 2+ Common Walls
  • Levels: Two
  • Price Per Square Foot: 662.15

Exterior Features

  • Fence: Yes
  • Fencing: Needs Repair
  • Pool Private: No

Garage/Parking

  • Garage Spaces: 4.00
  • Total Parking Spaces: 8.00
  • Uncovered Spaces: 4.00

Utilities

  • Heating: Yes
  • Laundry: Yes
  • Heating Type: Wall Furnace
  • Laundry Features: Inside
  • Pest Control Expense: 200.00
  • Sewer: Public Sewer
  • Trash Expense: 532.00
  • Water Source: Public

Condo/Co-op/Association

  • Association: No
  • Senior Community: No
  • Common Interest: Community Apartment
  • Community Features: Curbs

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: Level with Street
  • Lot Size Sq Ft: 6436.00
  • Lot Size Acres: 0.1478

Rental Info

  • Garage Rental Rate: 600.00

Multi Family

  • Average1 Bed Area: 691 Square Feet
  • Average2 Bed Area: 1006 Square Feet
  • Electric Expense: 532.00
  • Fuel Expense: 532.00
  • Garage Income: 1100.00
  • Gross Income: 1100.00
  • Gross Multiplier: 18.83
  • Gross Operating Income: 113315.00
  • Gross Scheduled Income: 163200.00
  • Insurance Expense: 1529.00
  • Lot Size Area: 6436.0000 Square Feet
  • Maintenance Expense: 2800.00
  • Net Operating Income: 77495.00
  • Number Of Rented Garages: 2
  • Number Of Separate Electric Meters: 5
  • Number Of Separate Gas Meters: 5
  • Number Of Separate Water Meters: 1
  • Number Of Units Leased: 3
  • Number Of Units Total: 4
  • Operating Expense: 35820.00
  • Other Expense: 2620.00
  • Other Expense Description: Misc
  • Rent Control: Yes
  • Total Expenses: 35820.00

Tax Info

  • New Taxes Expense: 26395.00
  • Tax Census Tract: 2733.00
  • Tax Lot: 45
  • Tax Tract Number: .
  • TaxOtherAnnualAssessmentAmount: 537.00

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Jul 30, 2024
Sold by
Meyer Michael L
Bought by
Michael L Meyer Living Trust and Meyer
Current Estimated Value
$2,433,943

Purchase Details

Listed on
Oct 28, 2021
Closed on
Feb 28, 2022
Sold by
Vodenos Arna Susan
Bought by
Vogel Jason G
Seller's Agent
Dan Lewin
Younglewin Advisors, Inc.
Buyer's Agent
Jason Vogel
Jason Vogel, Broker
List Price
$2,200,000
Sold Price
$2,250,000
Premium/Discount to List
$50,000
2.27%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
2.18%
Original Mortgage
$1,687,500
Interest Rate
2.93%
Mortgage Type
New Conventional

Purchase Details

Listed on
Oct 28, 2021
Closed on
Jan 21, 2022
Sold by
Meyer Nancy
Bought by
Meyer Michael L
Seller's Agent
Dan Lewin
Younglewin Advisors, Inc.
Buyer's Agent
Jason Vogel
Jason Vogel, Broker
List Price
$2,200,000
Sold Price
$2,250,000
Premium/Discount to List
$50,000
2.27%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,687,500
Interest Rate
2.93%
Mortgage Type
New Conventional

Purchase Details

Listed on
Oct 28, 2021
Closed on
Jan 3, 2022
Sold by
Levin Inter Vivos Trust and Alan Irvin Levin
Bought by
Meyer Michael L and Vogel Jason G
Seller's Agent
Dan Lewin
Younglewin Advisors, Inc.
Buyer's Agent
Jason Vogel
Jason Vogel, Broker
List Price
$2,200,000
Sold Price
$2,250,000
Premium/Discount to List
$50,000
2.27%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,687,500
Interest Rate
2.93%
Mortgage Type
New Conventional

Purchase Details

Closed on
Jul 14, 2006
Sold by
Levin Alan
Bought by
Levin Alan Irvin and Levin Marteen Bern

Purchase Details

Closed on
Aug 16, 2000
Sold by
Levin Barry
Bought by
Levin Barry Raymond and Levin Inter Vivos Trust

Purchase Details

Closed on
May 4, 1998
Sold by
Bertha Levin Revocable Intervivos Trust and Barry
Bought by
Levin Barry and Levin Alan
Source: Public Records

Range of Values:

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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

Purchase History

Date Buyer Sale Price Title Company
Michael L Meyer Living Trust -- None Listed On Document
Vogel Jason G -- Ticor Title
Meyer Michael L -- Ticor Title
Meyer Michael L $2,250,000 Ticor Title
Levin Alan Irvin -- None Available
Levin Barry Raymond -- --
Levin Barry -- --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Meyer Michael L $1,687,500
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
03/03/2022 03/03/22 Sold $2,250,000 +2.3% $662 / Sq Ft
10/28/2021 10/28/21 For Sale $2,200,000 -- $647 / 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 $28,652 $2,387,717 $2,016,295 $371,422
2024 $28,652 $2,340,900 $1,976,760 $364,140
2023 $28,098 $2,295,000 $1,938,000 $357,000
2022 $27,256 $2,296,655 $1,749,832 $546,823
2021 $1,661 $102,312 $42,550 $59,762
2019 $1,621 $99,280 $41,289 $57,991
2018 $1,501 $97,334 $40,480 $56,854
2016 $1,401 $93,557 $38,909 $54,648
2015 $1,385 $92,153 $38,325 $53,828
2014 $1,418 $90,349 $37,575 $52,774
Source: Public Records

Agents Affiliated with this Home

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: PW21235640

California Regional Multiple Listing Service (CRMLS)

APN: 4286-002-017