Seller's Agent in 2024
Brett Lyon
Lyon Stahl Investment Real Estate, Inc.
(310) 780-1899
2 in this area
143 Total Sales
616 Sunset Ave Venice, CA 90291
Venice NeighborhoodEstimated Value: $2,005,000 - $2,729,000
8
Beds
4
Baths
3,224
Sq Ft
$688/Sq Ft
Est. Value
Highlights
- Laundry Room
- Bike Trail
- No Heating
- Broadway Elementary Rated A
About This Home
As of December 2024Situated in the vibrant heart of Venice, 616 Sunset Ave stands as an exceptional opportunity for an investor aiming to enhance their portfolio with a prime asset. This charming 4-unit apartment building features classic Spanish-style architecture, each unit offering 2 bedrooms and 1 bathroom. Scrupulously maintained and in great condition, these units span a total of 3,224 square feet on a 4,802 square foot lot.
The property boasts attractive walkways, and conveniently-designed plantings and shared outdoor patio space, providing tenant satisfaction with minimal maintenance required from the owner. Second-story units feature highly desirable balconies with pleasant views, complemented by west-facing windows that invite a refreshing ocean breeze. The parking lot for 7 cars is made of low-maintenance, long lasting concrete providing ease of ownership and convenience for tenants. Its enviable location in Venice means it's just a short walk to world-class retail and dining on Rose Ave and less than a 5-minute drive to the beach.
Whether you're seeking consistent returns or looking to capitalize on the growth of the area, 616 Sunset Ave represents a compelling investment opportunity in a great location.
Last Agent to Sell the Property
Lyon Stahl Investment Real Estate, Inc. Brokerage Phone: 3107801899 License #01717818 Listed on: 09/30/2024
Co-Listed By
Lyon Stahl Investment Real Est Brokerage Phone: 3107801899 License #01399621
Last Buyer's Agent
Lyon Stahl Investment Real Estate, Inc. Brokerage Phone: 3107801899 License #01717818 Listed on: 09/30/2024
Property Details
Home Type
- Multi-Family
Year Built
- Built in 1960
Lot Details
- 4,802 Sq Ft Lot
- Two or More Common Walls
- Density is 2-5 Units/Acre
Home Design
- Quadruplex
- Entry on the 1st floor
Interior Spaces
- 3,224 Sq Ft Home
- 2-Story Property
- Laundry Room
Bedrooms and Bathrooms
- 8 Bedrooms
- 4 Bathrooms
Parking
- 7 Open Parking Spaces
- 7 Parking Spaces
- Parking Available
- Paved Parking
Utilities
- No Heating
Listing and Financial Details
- Legal Lot and Block 1 / I
- Tax Tract Number 1
- Assessor Parcel Number 4240013007
- $477 per year additional tax assessments
Community Details
Recreation
- Bike Trail
Building Details
- Rent Control
- 4 Separate Electric Meters
- 4 Separate Gas Meters
- 1 Separate Water Meter
- Gardener Expense $1,200
- Insurance Expense $4,030
- Maintenance Expense $4,311
- Other Expense $3,400
- New Taxes Expense $212,467
- Operating Expense $34,407
- Gross Income $143,688
- Net Operating Income $104,970
Additional Features
- 4 Units
- Laundry Facilities
Ownership History
Date
Name
Owned For
Owner Type
Purchase Details
Listed on
Sep 30, 2024
Closed on
Nov 13, 2024
Sold by
Sunven Llc
Bought by
616 Sunset Llc
Seller's Agent
Brett Lyon
Lyon Stahl Investment Real Estate, Inc.
Buyer's Agent
Brett Lyon
Lyon Stahl Investment Real Estate, Inc.
List Price
$1,750,000
Sold Price
$2,012,500
Premium/Discount to List
$262,500
15%
Views
9
Current Estimated Value
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$205,066
Avg. Annual Appreciation
9.40%
Purchase Details
Closed on
Apr 4, 2016
Sold by
Burt Ralph S and Rodriguez Marina E
Bought by
Sunven Llc
Purchase Details
Closed on
Apr 13, 2013
Sold by
Burt R Spencer and Rodriguez Marina E
Bought by
Burt Ralph S and Rodriguez Marine E
Purchase Details
Closed on
Aug 15, 2011
Sold by
Abouaf Jay and Jay Abouaf Revocable Trust
Bought by
Burt R Spencer and Rodriguez Marina E
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$787,500
Interest Rate
4.16%
Mortgage Type
New Conventional
Purchase Details
Closed on
Mar 9, 2009
Sold by
Abouaf Jay
Bought by
Abouaf Jay and Jay Abouaf Revocable Trust
Purchase Details
Closed on
Mar 4, 2003
Sold by
Abouaf Yelena
Bought by
Abouaf Jay
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$336,000
Interest Rate
4.97%
Purchase Details
Closed on
May 14, 1999
Sold by
Morales Raymundo and Mendez Roberto
Bought by
Abouaf Jay and Abouaf Yelena
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$252,750
Interest Rate
7.5%
Purchase Details
Closed on
Jul 12, 1996
Sold by
Posada Carmina
Bought by
Morales Raymundo
Purchase Details
Closed on
Apr 17, 1996
Sold by
Padilla Juan
Bought by
Morales Raymundo and Mendez Roberto
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$207,772
Interest Rate
8.39%
Mortgage Type
FHA
Create a Home Valuation Report for This Property
The Home Valuation Report is an in-depth analysis detailing your home's value as well as a comparison with similar homes in the area
Home Values in the Area
Average Home Value in this Area
Purchase History
| Date | Buyer | Sale Price | Title Company |
|---|---|---|---|
| 616 Sunset Llc | $2,012,500 | First American Title Company | |
| 616 Sunset Llc | $2,012,500 | First American Title Company | |
| Sunven Llc | -- | None Available | |
| Burt Ralph S | -- | None Available | |
| Burt R Spencer | $1,050,000 | Lawyers Title | |
| Abouaf Jay | -- | None Available | |
| Abouaf Jay | -- | American Coast Title | |
| Abouaf Jay | $337,000 | Southland Title Corporation | |
| Morales Raymundo | -- | Southland Title Company | |
| Morales Raymundo | $215,000 | Southland Title Company |
Source: Public Records
Mortgage History
| Date | Status | Borrower | Loan Amount |
|---|---|---|---|
| Previous Owner | Burt R Spencer | $787,500 | |
| Previous Owner | Abouaf Jay | $336,000 | |
| Previous Owner | Abouaf Jay | $252,750 | |
| Previous Owner | Morales Raymundo | $207,772 |
Source: Public Records
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 12/04/2024 12/04/24 | Sold | $2,012,500 | +15.0% | $624 / Sq Ft |
| 10/10/2024 10/10/24 | Pending | -- | -- | -- |
| 09/30/2024 09/30/24 | For Sale | $1,750,000 | -- | $543 / Sq Ft |
Source: California Regional Multiple Listing Service (CRMLS)
Tax History Compared to Growth
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 | $15,985 | $2,012,500 | $1,700,000 | $312,500 |
| 2024 | $15,985 | $1,292,991 | $966,667 | $326,324 |
| 2023 | $15,681 | $1,267,639 | $947,713 | $319,926 |
| 2022 | $14,959 | $1,242,784 | $929,131 | $313,653 |
| 2021 | $14,766 | $1,218,416 | $910,913 | $307,503 |
| 2019 | $14,327 | $1,182,279 | $883,896 | $298,383 |
| 2018 | $14,235 | $1,159,098 | $866,565 | $292,533 |
| 2016 | $13,602 | $1,114,091 | $832,916 | $281,175 |
| 2015 | $13,404 | $1,097,357 | $820,405 | $276,952 |
| 2014 | $13,466 | $1,075,862 | $804,335 | $271,527 |
Source: Public Records
Agents Affiliated with this Home
-
Brett Lyon
-
Woody Stahl
Seller Co-Listing Agent in 2024
Woody Stahl
Lyon Stahl Investment Real Est
(310) 710-3829
2 in this area
152 Total Sales
Map
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: SB24202217
APN: 4240-013-007
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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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