538 Rialto Ave
Venice,
CA
90291
Property Details
List Price: |
$2,600,000 |
Beds: |
9 |
Baths: |
-- |
Status: |
Active |
SqFt: |
2768 |
Agency: |
Keller Williams Santa Monica |
Description/Comments
Lot Size: |
-- |
Property Type: |
Residential |
Year Built: |
1922 |
Notes: |
538 Rialto Avenue in Venice, California is comprised of three (3) contiguous lots, totaling 7,652 square feet. The property consists of eight (8) bungalow-style units around a shaded outdoor courtyard with five (5) surface parking spaces.The asset offers a unit mix of one (1) 2 BD/1.5 BA; two (2) 1 BD/ 1BA; and five (5) studios, most with enclosed outdoor private spaces and one with a private sauna.The property's location in prime Venice is just one block from high-end shopping and dining amenities along Abbot Kinney Boulevard and within walking distance to the Venice Canals, Venice Beach and Boardwalk as well as vibrant boutiques and restaurants along Main Street and Rose Avenue.Offered at only $325,000 per unit, the asset provides a new investor with 50% rental upside - 10.9x gross and 6.2% cap rate at market rents. 538 Rialto represents a value-add opportunity for investors in an A+ Venice location.Investment Highlights Highly Desirable Venice Location One Block to Abbot Kinney Blvd. Walking Distance to Venice Beach & Canals 3 Contiguous Lots Form the Parcel, Totaling 7,652 SF Renovated Units Include Recessed Lighting, Bamboo Flooring, Ceiling Fans & Fully Upgraded Kitchens & Bathrooms Most Units Include Enclosed Private Patios, One with Large Outside Enclosed Sauna 50% Upside Potential in Rents. |
MlsNumber: |
23-286813 |
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Listing Provided By: |
Keller Williams Santa Monica, original listing |
Name: |
Keller Williams Santa Monica |
Phone: |
(310) 482-2200 |
Office Name: |
KW Advisors |
Office Phone: |
(310) 482-2200 |
Agent Name: |
Kimberly Roberts Stepp |
Disclaimer: |
Copyright © 2024 TheMLSCLAW. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified. |