NOT LISTED FOR SALE

565 Westminster Ave Venice, CA 90291

Venice Neighborhood

Estimated Value: $3,408,000 - $4,207,000

9 Beds
5 Baths
4,014 Sq Ft
$947/Sq Ft Est. Value

Last Sold February 15, 2020

Last sale price $3,100,000 $772 Per Sq Ft

Est. 23% increase in value since last sale

Current estimated payment $23,531/month

208 Days on Market

Highlights

  • Balcony
  • Venice High School Rated A
  • Attached Carport

About This Home

As of February 2020

This beach neighborhood 4-plex offers great rental income, upside -- and value. Generating $198,000 income annually, this garden style contemporary features numerous tenant "extras" including generous front deck/patio (see photos) extended upper back patio,gated four car parking, storage , and garden style landscaping. All units offer hardwood floors, contemporary fixtures and light bright ambiance All rents are based on month to month agreements. Building has been well managed with almost no deferred maintenance ,and with co-operative tenants. This a Location is just a short distance to beach, Google and globally famous Abbot Kinney shopping and dining. NOTE: 3BD 2 BA OWNER'S UNIT has becom available for rent or lease at $5,495/month

Last Agent to Sell the Property

Winston Cenac

Bulldog Realtors, Inc. License #01218663 Listed on: 07/04/2019

Last Buyer's Agent

Winston Cenac

Bulldog Realtors, Inc. License #01218663 Listed on: 07/04/2019

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1962

Lot Details

  • 5,205

Interior Spaces

  • 4,014 Sq Ft Home
  • 2-Story Property

Bedrooms and Bathrooms

  • 9 Bedrooms
  • 5 Bathrooms

Parking

  • 4 Parking Spaces
  • Attached Carport

Additional Features

  • Balcony
  • 5,205 Sq Ft Lot

Community Details

  • 4 Units

Listing and Financial Details

  • Assessor Parcel Number 4239-020-019

Property Details

Home Type

Multi-Family

Year Built

Built in 1962

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Street Number Display: Yes
  • Living Area: 4014
  • Stories: 2
  • Year Built: 1962
  • State Abbrv: CA
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Bedrooms: 9
  • Total Bathrooms: 5.00
  • Price Per S Q F T: 809.42

Exterior Features

  • Other Features: Balcony
  • Other Structures: None
  • Tennis Court Y/N: No
  • Pool: No

Garage/Parking

  • Parking Garage: Carport Attached
  • Total Parking: 4

Lot Info

  • Assessed Improvement Value: 405141
  • Assessed Land Value: 1193978
  • Assessor Parcel Number: 4239-020-019
  • Geocode Override: No
  • Lot Size Area: 5205

Multi Family

  • Unit Type: 2106, 2107, 2108, 2109, 2110
  • Gross Rent Multiplier: 17.00
  • Number Of Units: 4
  • Type Of Units: contemporary

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Jul 4, 2019
Closed on
Jan 3, 2020
Sold by
Muoto Martin and The Martin Muoto Separate Prop
Bought by
Titan Property Ventures Llc
Seller's Agent
Winston Cenac
Bulldog Realtors, Inc.
Buyer's Agent
Winston Cenac
Bulldog Realtors, Inc.
List Price
$3,249,000
Sold Price
$3,100,000
Premium/Discount to List
-$149,000
-4.59%
Current Estimated Value
$3,799,277

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$699,277
Avg. Annual Appreciation
3.46%

Purchase Details

Closed on
Apr 9, 2019
Sold by
Muoto Martin
Bought by
Martin Muoto Seperate Property Trust

Purchase Details

Closed on
Jan 23, 2014
Sold by
Muoto Martin and Harms Erica
Bought by
Muoto Martin

Purchase Details

Closed on
Nov 22, 2011
Sold by
Muoto Martin
Bought by
Muoto Martin and Harms Erica

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,104,000
Interest Rate
4.06%
Mortgage Type
New Conventional

Purchase Details

Closed on
Apr 14, 2006
Sold by
Kragen Bruce H and Kragen Olivia Manuel
Bought by
Muoto Martin

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,079,200
Interest Rate
6.37%
Mortgage Type
Purchase Money Mortgage

Purchase Details

Closed on
Jan 15, 1993
Sold by
Kragen Bruce H and Kragen Olivia Manuel
Bought by
Kragen Bruce H and Kragen Olivia Manuel
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
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

Purchase History

Date Buyer Sale Price Title Company
Titan Property Ventures Llc $3,100,000 Chicago Title
Martin Muoto Seperate Property Trust -- None Available
Muoto Martin -- None Available
Muoto Martin -- Equity Title Los Angeles
Muoto Martin $1,349,000 Equity Title Company
Kragen Bruce H -- First American Title
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Muoto Martin $1,104,000
Previous Owner Muoto Martin $1,079,200
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
02/16/2020 02/16/20 For Sale $3,249,000 +4.8% $809 / Sq Ft
02/15/2020 02/15/20 Sold $3,100,000 0.0% $772 / Sq Ft
12/09/2019 12/09/19 Off Market $3,100,000 -- --
12/06/2019 12/06/19 For Sale $3,249,000 +4.8% $809 / Sq Ft
12/05/2019 12/05/19 Off Market $3,100,000 -- --
12/01/2019 12/01/19 For Sale $3,249,000 +4.8% $809 / Sq Ft
11/25/2019 11/25/19 Off Market $3,100,000 -- --
09/29/2019 09/29/19 Price Changed $3,249,000 -3.0% $809 / Sq Ft
08/23/2019 08/23/19 Price Changed $3,349,000 -1.4% $834 / Sq Ft
07/10/2019 07/10/19 Price Changed $3,398,000 -15.0% $847 / Sq Ft
07/04/2019 07/04/19 For Sale $3,998,000 -- $996 / Sq Ft
Source: The MLS

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 $40,416 $3,390,298 $2,952,842 $437,456
2024 $40,416 $3,323,823 $2,894,944 $428,879
2023 $39,628 $3,258,651 $2,838,181 $420,470
2022 $37,776 $3,194,757 $2,782,531 $412,226
2021 $37,316 $3,132,116 $2,727,972 $404,144
2020 $20,785 $1,696,995 $1,267,058 $429,937
2019 $19,957 $1,663,721 $1,242,214 $421,507
2018 $19,848 $1,631,100 $1,217,857 $413,243
2016 $18,965 $1,567,765 $1,170,567 $397,198
2015 $18,687 $1,544,216 $1,152,984 $391,232
2014 $18,760 $1,513,968 $1,130,399 $383,569
Source: Public Records

Agents Affiliated with this Home

  • W

    Seller's Agent in 2020

    Winston Cenac

    Bulldog Realtors, Inc.

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Map

Source: The MLS

MLS Number: 19-485230

The MLS

APN: 4239-020-019

California Los Angeles County Venice 90291 Venice

565 Westminster Ave, Venice, CA

Not Listed for Sale

MultiFamily

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