NOT LISTED FOR SALE

608 Westminster Ave Venice, CA 90291

Venice Neighborhood

Estimated Value: $1,999,000 - $3,517,000

7 Beds
4 Baths
3,212 Sq Ft
$902/Sq Ft Est. Value

Last Sold November 08, 2017

Last sale price $2,975,000 $926 Per Sq Ft

Est. 3% decrease in value since last sale

Current estimated payment $18,507/month

19 Days on Market

Highlights

  • Converted Garage
  • 3 Car Direct Access Garage
  • Central Heating
  • Broadway Elementary Rated A

About This Home

As of November 2017

Two building Triplex four blocks from the BEACH and two blocks from ABBOT KINNEY. CAP RATE 4.3%! GRM 16.4! Fully Rented (yearly). Surrounded by Multi-Million Dollar Properties!! Duplex in front with two 906 sf 2 bed 1 bath units (subject to LA rent control). Lower unit has Cherry hardwood floors, IKEA kitchen and bath, new Anderson Eco windows, and Patio Doors to a Private 300 sf Sunny Deck. Upper has Cork Floors, Skylights, Designer Kitchen and Bath, and private green views from every window. The back house is a 3 story loft style architectural built in 2001 which has NO RENT CONTROL and can be delivered Vacant. On it's own private gated lot, there is an entry yard, ground floor studio/office and garage with private alley access, 2 bed 2 baths, office nook, and top floor open plan living area and kitchen. Hardwood Floors, Large Cotswold Windows, Caesarstone Coutertops, top of the line appliances. Private Deck off the living room for sunbathing/outdoor dining. Perfect for Owner/User.

Last Agent to Sell the Property

Noel Vietor

Real Estate Broker Services Inc. License #01328911 Listed on: 09/01/2017

Last Buyer's Agent

Mark Kitching

Douglas Elliman License #01742148

Douglas Elliman

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1946

Lot Details

  • 5,201

Interior Spaces

  • 3,212 Sq Ft Home
  • 2-Story Property

Kitchen

  • Oven or Range
  • Microwave
  • Dishwasher
  • Disposal

Bedrooms and Bathrooms

  • 7 Bedrooms
  • 4 Bathrooms

Laundry

  • Dryer
  • Washer

Parking

  • 3 Car Direct Access Garage
  • Converted Garage
  • Garage Door Opener
  • Automatic Gate
  • Uncovered Parking

Additional Features

  • 5,201 Sq Ft Lot
  • Central Heating

Community Details

  • 2 Buildings
  • 3 Units

Listing and Financial Details

  • Assessor Parcel Number 4239-024-024

Property Details

Home Type

Multi-Family

Year Built

Built in 1946

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Street Number Display: Yes
  • Living Area: 3212
  • Probate: No
  • Stories: 2
  • Year Built: 1946
  • State Abbrv: CA
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Bedrooms: 7
  • Total Bathrooms: 4.00
  • Equipment: Dishwasher, Dryer, Garbage Disposal, Hood Fan, Microwave, Range/Oven, Refrigerator, Washer
  • Price Per S Q F T: 932.44

Exterior Features

  • Tennis Court Y/N: No
  • Pool: No

Garage/Parking

  • Covered Parking: 2
  • Parking Garage: Attached, Auto Driveway Gate, Converted Garage, Covered Parking, Direct Entrance, Door Opener, Private Garage, Uncovered
  • Total Parking: 3

Utilities

  • Heating: Central, Combination
  • Security: T.V.
  • Water Expense: 1737.00

Fee Information

  • Insurance Expense: 2979.00
  • Maintenance Expense: 2400.00
  • Other Expense: 179.00

Lot Info

  • Assessed Improvement Value: 488909
  • Assessed Land Value: 1144258
  • Assessor Parcel Number: 4239-024-024
  • Geocode Override: No
  • Lot Size Area: 5201

Rental Info

  • Monthly Gross Income: 15200.00

Multi Family

  • Unit Type: 2106, 2107, 2108
  • Gross Rent Multiplier: 16.40
  • Gross Scheduled Income: 182400.00
  • Gross Spendable Income: 176928.00
  • Number Of Units: 3
  • Rent Control: 67
  • Type Of Units: Apts
  • Vacancy Allow Percent: 3.00

Tax Info

  • Tax Expense: 37438.00

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Sep 1, 2017
Closed on
Oct 3, 2017
Sold by
Smile Face Llc
Bought by
Cook Gina L and The Gina L Cook Trust
Seller's Agent
Noel Vietor
Real Estate Broker Services Inc.
Buyer's Agent
Mark Kitching
Douglas Elliman
List Price
$2,995,000
Sold Price
$2,975,000
Premium/Discount to List
-$20,000
-0.67%
Current Estimated Value
$2,898,090

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
-$76,910
Avg. Annual Appreciation
-0.32%
Original Mortgage
$1,638,000
Outstanding Balance
$1,360,040
Interest Rate
3.6%
Mortgage Type
Adjustable Rate Mortgage/ARM
Estimated Equity
$1,538,050

Purchase Details

Listed on
Jun 1, 2012
Closed on
Oct 18, 2012
Sold by
Knight John and Saylor Michelle Denise
Bought by
Smile Face Llc
Seller's Agent
Suzanne Frank
Abbot Kinney Real Estate Inc.
Buyer's Agent
Noel Vietor
Real Estate Broker Services Inc.
List Price
$1,650,000
Sold Price
$1,570,000
Premium/Discount to List
-$80,000
-4.85%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
13.52%

Purchase Details

Closed on
Mar 15, 2006
Sold by
Knight John
Bought by
Knight John and Saylor Michelle Denise

Purchase Details

Closed on
Jan 30, 1997
Sold by
Prentiss Chris
Bought by
Knight John

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$140,000
Interest Rate
7.87%

Purchase Details

Closed on
May 10, 1996
Sold by
Riskin Steven R and Riskin Marilyn
Bought by
Prentiss Chris

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$75,000
Interest Rate
7.96%
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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Average Value
Not Available
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
Cook Gina L $2,975,000 Lawyers Title
Smile Face Llc $1,570,000 None Available
Knight John -- Accommodation
Knight John $175,000 Equity Title Company
Prentiss Chris $100,000 Equity Title Company
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Cook Gina L $1,638,000
Previous Owner Knight John $140,000
Previous Owner Prentiss Chris $75,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft Prior Sale
11/08/2017 11/08/17 Sold $2,975,000 -0.7% $926 / Sq Ft
09/20/2017 09/20/17 Pending -- -- --
09/20/2017 09/20/17 For Sale $2,995,000 +0.7% $932 / Sq Ft
09/17/2017 09/17/17 Off Market $2,975,000 -- --
09/16/2017 09/16/17 For Sale $2,995,000 +0.7% $932 / Sq Ft
09/06/2017 09/06/17 Off Market $2,975,000 -- --
09/01/2017 09/01/17 For Sale $2,995,000 +90.8% $932 / Sq Ft
10/26/2012 10/26/12 Sold $1,570,000 -4.8% $489 / Sq Ft View Prior Sale
10/12/2012 10/12/12 Pending -- -- --
06/01/2012 06/01/12 For Sale $1,650,000 -- $514 / Sq Ft
Source: The MLS

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 $40,231 $3,385,038 $2,275,657 $1,109,381
2024 $40,231 $3,318,666 $2,231,037 $1,087,629
2023 $39,445 $3,253,595 $2,187,292 $1,066,303
2022 $37,596 $3,189,800 $2,144,404 $1,045,396
2021 $37,143 $3,127,256 $2,102,357 $1,024,899
2020 $37,533 $3,095,190 $2,080,800 $1,014,390
2019 $36,021 $3,034,500 $2,040,000 $994,500
2018 $35,932 $2,975,000 $2,000,000 $975,000
2017 $1 $1,665,830 $1,167,143 $498,687
2016 $19,767 $1,633,167 $1,144,258 $488,909
2015 $19,477 $1,608,637 $1,127,071 $481,566
2014 $19,547 $1,577,127 $1,104,994 $472,133
Source: Public Records

Agents Affiliated with this Home

  • N

    Seller's Agent in 2017

    Noel Vietor

    Real Estate Broker Services Inc.

    Section Image
  • Mark Kitching

    Buyer's Agent in 2017

    Mark Kitching

    Douglas Elliman

    (310) 902-0221

    11 in this area

    32 Total Sales

    Mark Kitching
    Section Image

  • S

    Seller's Agent in 2012

    Suzanne Frank

    Abbot Kinney Real Estate Inc.

See All Agents

Map

Source: The MLS

MLS Number: 17-266884

The MLS

APN: 4239-024-024

California Los Angeles County Venice 90291 Venice

608 Westminster Ave, Venice, CA

Not Listed for Sale

MultiFamily

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