123 Park Place

Venice, CA 90291

$1,950,000
Price
2
Beds
4
Baths
2,008 Sq. Ft.
$971 / Sq. Ft.
2,008
Sq. Ft.
$971
per Sq. Ft.

Description

Welcome to the walk Streets of Venice, one block from the Beach at the end of Abbot Kinney/Brooks and just south of Main street. The location is outstanding. Enter through the white picket fence into a shared sun trap of a garden, to be enjoyed by all. This is a four unit building, fully occupied. On the ground floor is unit 1, a 1 bedroom, 1 bathroom unit, and on the 2nd floor are three units, 2 studios and another 1 bedroom, 1 bathroom unit. The units on the upper floor have all been updated. The...Welcome to the walk Streets of Venice, one block from the Beach at the end of Abbot Kinney/Brooks and just south of Main street. The location is outstanding. Enter through the white picket fence into a shared sun trap of a garden, to be enjoyed by all. This is a four unit building, fully occupied. On the ground floor is unit 1, a 1 bedroom, 1 bathroom unit, and on the 2nd floor are three units, 2 studios and another 1 bedroom, 1 bathroom unit. The units on the upper floor have all been updated. The one bedroom unit upstairs has an exposed wood ceiling, stainless steel appliances, wood floors, cool light fixtures, wood blinds, a little desk area and a light and airy bathroom. There is also a communal laundry, and a carport that fits 6 cars tandem. There are 4 storage bins for the tenants use. Good steady income, low expenses. Expenses include projected property taxes for new owner. An all round great investment. Will need 72 hours notice to show Monday - Saturday.
  1. Listed by Michelle Nissani • DRE #01330453 • Brokerage DRE #01883938 • Douglas Elliman

Property Details for 123 Park Place

Zoning
LARD1.5
Parcel Number
4286014022
Total Units
4.0
Living Area
2008
Source Living Area
Vendor Enhanced
Area
Venice (C11)
Vacancy Rate
0
Lot Size Area
2250

Location

Listing Courtesy of Douglas Elliman, Michelle Nissani, DRE #01330453
Add your commute
LISTING UPDATED: 04/22/2024 11:31 AM

Property Details for 123 Park Place

StatusActive Under Contract
MLS #23-267293
Days on Market355
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1965
Lot Size0.05 AC / 2,250 SF
CountyLos Angeles County

Location

Listing Courtesy of Douglas Elliman, Michelle Nissani, DRE #01330453
Add your commute

Building Information for 123 Park Place

Stories2Residences-Year Built1965Building Size-Lot Size0.05 AC / 2,250 SF

Payment Calculator

$11,963 per month

30 year fixed, 7.25% Interest

Principal and Interest

$10,642

Property Taxes

$1,321

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 123 Park Place

Community / Development
Community / Development
  • Number Of Units: 4
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Vendor Enhanced
  • Number Of Stories: 2
  • Number Of Buildings: 1
  • Type Of Units: 4-plex
Contract Info
Contract Info
  • Financing: Cash, Cash To New Loan, New
  • Disclosures: As Is
  • Listing Type: Exclusive Right To Sell
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Actual
  • Gross Operating Income: $86,220
  • Net Operating Income: $60,419.40
  • Gross Income: $86,220
  • Cap Rate: 3.09%
  • Gross Rent Multiplier: $22.60
  • Total Annual Expense: 25800.60
  • Water Expense: $770.00
  • Electric Expense: $1,279.00
  • Other Expense: $552.00
  • Tax Expense: $23,200
Land / Lot Info
Land / Lot Info
  • Lot Acreage: 0.0516
  • Lot Size Square Feet: 2250
Parking Details
Parking Details
  • Parking Garage: Carport
  • Total Parking: 6
  • Covered Parking: 3
  • Open Other Spaces Total: 3
  • Parking Features: Carport
Interior Features
Interior Features
  • Levels: Multi/Split
  • Cooling: None
  • Cooling Type: None
  • Heating: Wall Furnace
  • Heating Type: Wall
  • Equipment: Built-Ins, Ceiling Fan, Dishwasher, Ice Maker, Range/Oven, Refrigerator
  • Interior Features: Ceiling Fan(s)
  • Laundry: Community
Exterior Features
Exterior Features
  • New Construction: No
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 05-04-2023
Unit Details
Unit 1 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,700.00
  • Unit Actual Rent: $1,700.00
  • Unit Projected Rent: $3,000.00
  • Like Units: 1
Unit 2 Information
  • Unit Beds: 0
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,395.00
  • Unit Actual Rent: $1,395.00
  • Unit Projected Rent: $1,500.00
  • Like Units: 2
Unit 3 Information
  • Unit Beds: 0
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,395.00
  • Unit Actual Rent: $1,395.00
  • Unit Projected Rent: $1,500.00
  • Like Units: 3
Unit 4 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $2,695.00
  • Unit Actual Rent: $2,695.00
  • Unit Projected Rent: $3,000.00
  • Like Units: 4
Unit Details
  • Unit Type Type: 2106, 2107, 2108, 2109
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $231,027.00
  • Assessed Improvement Percent: 18.18
  • Assessed Land Value: $1,039,640.00
  • Assessed Land Percent: 81.82
  • Assessed Total Value: $1,270,667.00

Property History for 123 Park Place

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 123 Park Place

Taxable ValueLand$1,060,432Additions$236,487Total$1,296,919
Tax Record2023$15,855 ($1,321 / month)
Home Facts
Total Finished SqFt2,008 SqFtAbove Grade Finished SqFt2,008 SqFtLot Size2,250 SqFtStyleQuadraplexYear Built1965ZoningLARD1.5CountyLOS ANGELESAPN4286-014-022

Schools near 123 Park Place

This home is within Los Angeles Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - 6 to 8
Public - 9 to 12
Charter - 9 to 12
Rating
School
Distance
Westminster Avenue Elementary School
PublicK to 5

Venice Senior High School
Public9 to 12

Animo Venice Charter High School
Charter9 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Douglas Elliman, Michelle Nissani, DRE #01330453

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.