538 Rialto Avenue

Venice, CA 90291

$2,600,000
Price
9
Beds
9
Baths
2,768 Sq. Ft.
$939 / Sq. Ft.
2,768
Sq. Ft.
$939
per Sq. Ft.

Description

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...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.
  1. Listed by Kimberly Roberts Stepp • DRE #01251767 • Brokerage DRE #01854200 • KW Advisors

Property Details for 538 Rialto Avenue

Zoning
LARD1.5
Parcel Number
4238016014
Total Units
8.0
Living Area
2768
Source Living Area
Vendor Enhanced
Area
Venice (C11)
Vacancy Rate
3%
Lot Size Area
7652

Location

Listing Courtesy of KW Advisors, Kimberly Roberts Stepp, DRE #01251767
Add your commute
LISTING UPDATED: 04/24/2024 09:35 AM

Property Details for 538 Rialto Avenue

StatusActive
MLS #23-286813
Days on Market303
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1922
Lot Size0.18 AC / 7,652 SF
CountyLos Angeles County

Location

Listing Courtesy of KW Advisors, Kimberly Roberts Stepp, DRE #01251767
Add your commute

Building Information for 538 Rialto Avenue

Stories1Residences-Year Built1922Building Size-Lot Size0.18 AC / 7,652 SF

Payment Calculator

$14,441 per month

30 year fixed, 7.25% Interest

Principal and Interest

$14,189

Property Taxes

$252

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 538 Rialto Avenue

Community / Development
Community / Development
  • Number Of Units: 8
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Vendor Enhanced
  • Number Of Stories: 1
  • Number Of Buildings: 8
  • Type Of Units: Apartments
Contract Info
Contract Info
  • Disclosures: None
  • Listing Type: Exclusive Right To Sell
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Actual
  • Gross Operating Income: $160,080
  • Net Operating Income: $92,710.00
  • Gross Income: $165,030
  • Gross Rent Multiplier: $15.80
  • Total Annual Expense: 67369
Land / Lot Info
Land / Lot Info
  • Lot Acreage: 0.1757
  • Lot Size Square Feet: 7652
Parking Details
Parking Details
  • Parking Garage: Parking Space
  • Total Parking: 5
  • Parking Features: Parking Space
Interior Features
Interior Features
  • Levels: One
  • Cooling: None
  • Cooling Type: None
  • Heating: Wall Furnace
  • Heating Type: Wall
  • Equipment: Ceiling Fan, Dishwasher
  • Interior Features: Ceiling Fan(s)
Exterior Features
Exterior Features
  • New Construction: No
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 07-03-2023
Unit Details
Unit 1 Information
  • Unit Beds: 2
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $2,579.00
  • Unit Actual Rent: $2,579.00
  • Unit Projected Rent: $3,400.00
  • Like Units: 1
Unit 2 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $2,725.00
  • Unit Actual Rent: $5,450.00
  • Unit Projected Rent: $5,450.00
  • Like Units: 2
Unit 3 Information
  • Unit Beds: 0
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $2,200.00
  • Unit Actual Rent: $11,000.00
  • Unit Projected Rent: $11,000.00
  • Like Units: 5
Unit Details
  • Unit Type Type: 2106, 2107, 2108
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $49,000.00
  • Assessed Improvement Percent: 29.13
  • Assessed Land Value: $119,185.00
  • Assessed Land Percent: 70.87
  • Assessed Total Value: $168,185.00

Property History for 538 Rialto Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

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

Public Records for 538 Rialto Avenue

Taxable ValueLand$121,568Additions$49,980Total$171,548
Tax Record2023$3,022 ($252 / month)
Home Facts
Total Finished SqFt2,768 SqFtAbove Grade Finished SqFt2,768 SqFtLot Size7,652 SqFtStyleMulti-Family Res (5+ Units)Year Built1922ZoningLARD1.5CountyLOS ANGELESAPN4238-016-014

Schools near 538 Rialto Avenue

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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538 Rialto Avenue is a multi-family home for sale in Venice, CA 90291. This property was listed for sale on July 3, 2023 by KW Advisors, it's currently listed at $2,600,000. This listing's school district is Los Angeles Unified School District. Nearby schools include Westminster Avenue Elementary School, Mark Twain Middle School and World Languages Magnet and Venice Senior High School. 538 Rialto Avenue is a 9-bed, 9-bath, 2,768 sqft multi-family home built in 1922.

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 KW Advisors, Kimberly Roberts Stepp, DRE #01251767

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.