Listed By:
Michelle Nissani with Douglas Elliman;
Address
123 Park Place, Venice, CA
Price
$ 1,950,000
Property Attributes
  • MLS#23267293
  • TypeMulti-Family
  • CountyLOS ANGELES
  • CityVenice
  • AreaVenice
  • Zip90291
  • Style
  • Price$ 1,950,000
  • Bedrooms2
  • Full Bathrooms4
  • Half Bathrooms0
  • Sqr Footage2008
  • Lot Size2,252 SqFt
Data Source:
California Regional MLS (CRMLS)
Property Description

Welcome to the walk Streets of Venice, one block from the Beach at the end of Abbot Kinney/Brooks and just south of Main street.The location is outstanding. Enter through the white picket fence into a shared sun trap of a garden, to be enjoyed by all. This is a four unit building, fully occupied. On the ground floor is unit 1, a 1 bedroom, 1 bathroom unit, and on the 2nd floor are three units, 2 studios and another 1 bedroom, 1 bathroom unit. The units on the upper floor have all been updated. The one bedroom unit upstairs has an exposed wood ceiling, stainless steel appliances, wood floors, cool light fixtures, wood blinds, a little desk area and a light and airy bathroom. There is also a communal laundry, and a carport that fits 6 cars tandem. There are 4 storage bins for the tenants use. Good steady income, low expenses. Expenses include projected property taxes for new owner. An all round great investment. Will need 72 hours notice to show Monday - Saturday.

Price History
5/5/2023 Listed $1,950,000

General Features

Interior Features CeilingFans
Heating WallFurnace
Cooling None
Appliances Dishwasher,Refrigerator
Zoning LARD1.5
Year Built 1965
Levels MultiSplit
Gross Income 86220.0
County Los Angeles
Net Operating Income 60419.4
New Construction No
Property Type ResidentialIncome
HOA / Comm Assn No
Attached Garage No
Garage Y/N No
Special Listing Conditions Standard
Status Active
Buyer Financing Cash
Directions West of Main,East of Pacific,South of Rose and North of Abbot Kinney/Brooks
City Venice
View Y/N No
Senior Community Y/N No
Open Parking Spaces 3.0
Total Units 4
MLS Area C11 - Venice
Lot Size Square Feet 2250.0
Private Pool No
Waterfront Y/N No
Carport Y/N Yes
Street Name Park
Property Attached Y/N No
Land Lease Y/N No
Electric Expense 1279.0
Home Warranty Y/N No
Water Sewer Expense 770.0
Lease Renewal Y/N No
Additional Parcels Y/N No
Lease Considered Y/N No
Rent Control Y/N No
Days on Market 244
Standard Status Active
Occupancy Description Tenant
Taxes 23200.0
Cap Rate 3.09
MobileHomeRemainsYN No

Interior Features

Total Stories 2
Basement (Y/N) No
Air Conditioning Y/N No
Heating Y/N Yes
Fireplace Y/N No
Street Suffix Place
Laundry Features CommonArea
Total Bedrooms 2
Electric On Property Y/N No
Total Baths 4

Exterior Features

Parking Features Carport
Total Parking 6.0
Lot Size Area 2250.0
Number of Buildings 1
Spa No
Building Area Total 2008.0
Lot Size Acres 0.0517
Lot Size Units SquareFeet
Crops Included Y/N No
Open Parking Y/N No
Horse Y/N No
Irrigation Water Rights Y/N No

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Primary On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Multi-Family Average in 90291

Price
AVG $3.37M
$1.95M
Visits
AVG 109
206
Data Provided by Inside Real Estate®
Year Built
AVG 1954
1965
Walkscore
AVG 93
96
Data Provided by Walkscore® not using MLS data