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523 Main Street, Venice, CA 90291$2,250,000

--
bed
1
bath
1536
ft2
· 2638
ft2 lot
$1,465 / ft2

Listing provided courtesy of Richard Ringer, Richard J. Ringer Inc.
Source CRMLS;
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HOA

No HOA

On market

2 months

Year built

1925

Property type

Multi-Family

Parking

MLS

22190909

Price / Sq.Ft.

$1,465 / ft2

Status

Active Under Contract

Buyer’s Brokerage Commission

2%

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Home details for 523 Main Street

Interior Features & Layout
Interior Features
•   
Interior Features: Ceiling Fan(s)
Heating & Cooling
•   
Has Heating
•   
Heating Details: Wall Furnace
Flooring
•   
Flooring: Wood
Interior Size
•   
Building Area Total: 1536.00
Property, Lot, Community & Exterior Features
Building Info
•   
Zoning: LAR3
Community Info
•   
Number Of Buildings: 1
•   
Total Units: 5
Lot Info
•   
Lot Size Acres: 0.0606
•   
Lot Size Area: 2638.0000
•   
Lot Size Units: Square Feet
Property Type
•   
Architectural Style: Bungalow
Listing Details, Costs & Financing Information
Financial Info
•   
Gross Operating Income: 171000.00
•   
Vacancy Allowance Rate: 0.00
•   
Cap Rate: 7.60
•   
Total Expenses: 0.00
•   
Gross Multiplier: 13.16
Tax/Assessment Info
•   
Gross Income: 171000.00
Lease Info
•   
Net Operating Income: 171000.00
Listing Info
•   
Status: Active Under Contract
Multi Unit Information
Multi Unit Information
•   
# Of Units: 13
Unit 1 Information
•   
Unit 1 Total Units: 5
•   
Unit 1 Furnished Units: Unfurnished
•   
Unit 1 Bathrooms: 1
•   
Unit 1 Actual Rent: 2850.00
•   
Unit 1 Total Rent: 171000.00
School Neighborhood & Directions
School Info
•   
Directions: The property is located at 523 MainStreet, at the northwest corner of Main Street and Abbot Kinney Boulevard. The property currently has a tenant, which operates a successful rehabilitation facility/apartment community.
Other
Calculation
•   
Dom: 28

Neighborhood snapshot

89
Properties for sale
32
Median days on market
$1108.71
Median sold price/sqft
98.47%
Sold/List %
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Property History for 523 Main Street

08/17/2022
08/17/2022
CRMLS #22190909
active
CRMLS #22190909
$2,250,000
+40.63%
09/15/2020
09/15/2020
CRMLS #20582484
sold
CRMLS #20582484
$1,600,000
09/14/2020
09/14/2020
CRMLS #20582484
pending
CRMLS #20582484
$1,600,000
--5.85%
05/25/2020
05/25/2020
CRMLS #20582484
active
CRMLS #20582484
$1,699,500
+6.22%
10/27/2017
10/27/2017
CRMLS #17245538
sold
CRMLS #17245538
$1,600,000

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