523 Main Street

    Venice, CA 90291
    • $1,895,000
    • STATUS: Active
    • ON SITE: 28 days
    • ID#: 20562302
    Price Reduced
    UPDATED: 143 min ago
    $1,895,000
    • 0
      BEDS
    • 0.06
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1925
    County:
    Area:

    School Ratings & Info

    Description

    8% CASH on CASH!! 5-unit Venice Charmer & Cash Cow located in the heart of Silicon Beach. The property is a 2 minute stroll to the famed Venice Beach Boardwalk, a two block walk to the pristine oceanfront, and a quick bike ride to the celebrated Santa Monica Pier! With its impeccable location, this highly sought after complex offers five VACANT studios with equipped kitchens, individually metered gas and electric, and new roofing. The property was built in 1925 and provides excellent natural light and Spanish character. Regarded as one of the highest demand rental markets in the country, this prime asset is well positioned to be a terrific source of cash-flow and accelerated appreciation. Add laundry in-unit and private patios to achieve top of market rents! Inquire for supporting rent comps. All economic metrics are based on Year-One targets, upon lease-up of vacancies. Contact us for an OM today!

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2020-04-07T00:27:25.58. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or The Houston Team | Compass CA DRE#01991628. Licensed in the State of California, USA.

    www.northsdrealty.com/homes/103995797

    523 Main Street Venice, CA 90291

    • Price: $1,895,000
    • Status: Active
    • Updated: 143 min ago
    • ID#: 20562302
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.06
    Acres
    1925
    Built
    Neighborhood:
    C11 - Venice
    County:
    Los Angeles
    Area:
    C11 - Venice
    Property Description
    8% CASH on CASH!! 5-unit Venice Charmer & Cash Cow located in the heart of Silicon Beach. The property is a 2 minute stroll to the famed Venice Beach Boardwalk, a two block walk to the pristine oceanfront, and a quick bike ride to the celebrated Santa Monica Pier! With its impeccable location, this highly sought after complex offers five VACANT studios with equipped kitchens, individually metered gas and electric, and new roofing. The property was built in 1925 and provides excellent natural light and Spanish character. Regarded as one of the highest demand rental markets in the country, this prime asset is well positioned to be a terrific source of cash-flow and accelerated appreciation. Add laundry in-unit and private patios to achieve top of market rents! Inquire for supporting rent comps. All economic metrics are based on Year-One targets, upon lease-up of vacancies. Contact us for an OM today!
    Exterior Features

    Lot Size Source Other Lot Size Units Square Feet

    Property Features

    Gross Income 159000.00 Gross Multiplier 11.90 Gross Operating Income 159000.00 Net Operating Income 123376.00 Senior Community YN No Special Listing Conditions Standard Zoning Lar3

    Listing provided courtesy of Elijah Korobkin of Central Realty Advisors Inc


    Based on information from California Regional Multiple Listing Service, Inc. as of 2020-04-07T00:27:25.58. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or The Houston Team | Compass CA DRE#01991628. Licensed in the State of California, USA.

     
    The Houston Team | Compass CA DRE#01991628
    2100 Costa Del Mar
    Carlsbad CA, 92009