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    523 Main St

    Venice, CA 90291
    • $1,699,500
    • STATUS: Active
    • ON SITE: 44 days
    • ID#: 20-582484
    UPDATED: 76 min ago
    $1,699,500
    • 5
      BEDS
    • N/A
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 1,536
      SQFT
    • $1,106
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1925
    County:
    Area:

    School Ratings & Info

    Description

    Year-One 6% Cap Rate & 12.7 GRM!!! 523 Main St is a fantastic 5-unit Venice charmer located directly 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 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.

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    Based on information from the Combined LA/Westside Multiple Listing Service as of 2020-07-09T15:42:49.863. 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.
    www.randyplaice.com/homes/106199053
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    523 Main St Venice, CA 90291

    • Price: $1,699,500
    • Status: Active
    • Updated: 76 min ago
    • ID#: 20-582484
    5
    Beds
    0
    Baths
    0
    ½ Baths
    N/A
    Acres
    1,536
    SQFT
    $1,106
    $/SQFT
    1925
    Built
    Neighborhood:
    Venice
    County:
    Los Angeles
    Area:
    Venice
    Property Description
    Year-One 6% Cap Rate & 12.7 GRM!!! 523 Main St is a fantastic 5-unit Venice charmer located directly 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 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.
    Exterior Features

    Lot Size Area 2638 Other Structures Other Parking Garage Other Pool YN No Tennis YN No Total Parking 0

    Interior Features

    Baths Total 5.00 Cooling Other Den No Dining Room No Equipment Other Family Room No Heating Other

    Property Features

    Gross Income 134220 Gross Operating Income 134220 Like Units1 1 Like Units2 1 Like Units3 1 Like Units4 1 Like Units5 1 Net Operating Income 101798.00 Number Of Buildings 1 Number Of Units 5 Sale Type Standard Source Living Area Other Source Lot Size Area Other Total Annual Expense 32422 Type Of Units Apartments Zoning Lar3

    Listing provided courtesy of Elijah Korobkin DRE#01897085 of Central Realty Advisors Inc.


    Based on information from the Combined LA/Westside Multiple Listing Service as of 2020-07-09T15:42:49.863. 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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    Randy Plaice and Associates | RE/MAX
    27720 Dickason Drive
    Valencia CA, 91355