538 Rialto Ave Venice, CA 90291
Active
$2,195,000
8 Units
9 Beds
9 Baths
2,768 Area(sq.ft.)
7,654 Lot Size(sq.ft.)
| Type | # of Units | Bedroom | Bath | Furnished | Rent | Actual Rent | Projected Rent |
|---|---|---|---|---|---|---|---|
| Unit 1 | 1 | 2 | 1.50 | No | $ 2,682 | $ 2,682 | $ 4,000 |
| Unit 2 | 2 | 1 | 1 | No | $ 2,028 | $ 4,056 | $ 6,000 |
| Unit 3 | 5 | studio | 1 | No | $ 1,513 | $ 7,564 | $ 12,000 |
| 3 | 8 | 4 | 9 | $ 14,302 | $ 48,615 | $ 76,000 |
| MLS #: | 24-468487 |
| Days On Market: | 8 |
| County: | Los Angeles |
| Property Type: | Residential Income |
| Price per ft2: | $ 793 |
| Price per unit: | $ 274,375 |
| Year Built: | 1922 |
Property Details
Discover a truly unique investment property in the heart of Venice! Situated on a rare triple lot just blocks from the world-renowned Abbot Kinney Boulevard, the Rose Corridor, and iconic Venice Beach, this 8-bungalow compound offers unparalleled charm, location, and potential. Property Highlights: Unit Mix:(1) 2-bedroom, 2-bathroom unit, (2) 1-bedroom, 1-bathroom units, and (5) studios. The bungalows are centered around a picturesque courtyard adorned with a majestic tree, creating a serene, community-centric environment. Most units include their own private outdoor areas, perfect for soaking up the Southern California sun. Nestled on a quiet street, this property offers unbeatable walkability. Stroll to Abbot Kinney Boulevard for its trendy shops, cafes, and dining, or enjoy the vibrant energy of the Rose Corridor. With its premier location and versatile unit mix, this property, zoned RD1.5-1-0, presents massive 52% rental upside potential and over 9% cap rate at market rents. Whether you're an investor seeking a strong-performing asset or someone looking to curate a one-of-a-kind living community, this is a rare chance to own a piece of Venice's unique lifestyle. Don't miss this exceptional opportunity in one of Los Angeles' most coveted neighborhoods!Interested in this Listing?
Miami Residence will connect you with an agent in a short time.
Income Details
| Rent Control: | Yes, 100% |
| Gross Operating Income: | $ 171,630 |
| Total Annual Expense: | $ 65,900 |
| Net Operating Income: | $ 105,730 |
| Gross Annual Income: | $ 171,630 |
| Cap Rate: | 4.82% |
| Gross Rent Multiplier: | 12.79 |
Structure
| Type of Units: | apartments |
| Buildings: | 6 |
| Levels: | One |
| Style: | California Bungalow |
Land & Parking
| Zoning: | LARD1.5 |
| Parking Garage: | Shared Driveway |
Interior
| AC/Cooling: | None |
| Equipment: | Refrigerator, Range/Oven, Stackable W/D Hookup, Washer, Dryer |
| Heating: | Wall |
| Laundry: | In Unit |
Exterior
Detailed Map
Schools
Find a great school for your child
Income
