1305 Ocean Front Walk

    Venice, CA 90291
    • $11,550,000
    • STATUS: Closed
    • ON SITE: 90 days
    • ID#: 19427102
    Sold - 03/22/2019
    $11,550,000
    SOLD - 03/22/2019
    • 0
      BEDS
    • 0.1
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    Neighborhood:
    Type:
    Multi-Family
    County:
    Area:

    School Ratings & Info

    Description

    Rare unique oppty to purchase great asset on World -Renowned Venice Boardwalk that has been in the same family for decades. Very clean, well maintained. Sprinklered & master metered. Roof,deck & balconies approx 3yrs old, water heater approx 5 yrs old. 31 single units, 1 leasing ofc in very high demand w/strong rental market. Spectacular large roof top deck w/beautiful ocean, boardwalk & city views. Many units w/ocean views & 7 units w/classic claw foot bathtubs. Currently building is mostly vacant. Ideal for Corporate Housing; units must be rented for a minimum of 30 days See attached OM for complete details

    Sold by Francyne Lambert of Lambert Investments, Inc..

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2019-04-26T00:41:22.243. 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. Licensed in the State of California, USA.
    www.bestlahomefinder.com/homes/91204777

    1305 Ocean Front Walk Venice, CA 90291

    • Price: $12,500,000
    • Status: Closed
    • ID#: 19427102
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.1
    Acres
    Neighborhood:
    C11 - Venice
    County:
    Los Angeles
    Area:
    C11 - Venice
    Property Description
    Rare unique oppty to purchase great asset on World -Renowned Venice Boardwalk that has been in the same family for decades. Very clean, well maintained. Sprinklered & master metered. Roof,deck & balconies approx 3yrs old, water heater approx 5 yrs old. 31 single units, 1 leasing ofc in very high demand w/strong rental market. Spectacular large roof top deck w/beautiful ocean, boardwalk & city views. Many units w/ocean views & 7 units w/classic claw foot bathtubs. Currently building is mostly vacant. Ideal for Corporate Housing; units must be rented for a minimum of 30 days See attached OM for complete details
    Exterior Features

    Lot Size Source See Remarks Lot Size Units Square Feet

    Interior Features

    Cooling See Remarks Cooling YN Yes Laundry Features See Remarks

    Property Features

    Association Amenities Other Association YN Yes Cap Rate 5.20 Gross Multiplier 12.90 Gross Operating Income 970632.00 Laundry YN Yes Net Operating Income 646186.00 Special Listing Conditions Standard Total Expenses 275914.00

    Listing provided courtesy of Francyne Lambert of Lambert Investments, Inc.


    Based on information from California Regional Multiple Listing Service, Inc. as of 2019-04-26T00:41:22.243. 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. Licensed in the State of California, USA.
     
    RE/MAX Masters
    475 E. Badillo Street
    Covina CA, 91723