708 Venice Way

Inglewood, CA 90302

$4,749,000
Price
14
Beds
19
Baths
12,192 Sq. Ft.
$390 / Sq. Ft.
12,192
Sq. Ft.
$390
per Sq. Ft.

Description

This late 1950's constructed 19-unit apartment complex sits in northwest area of the City of Inglewood. Although Inglewood has its own rent control ordinance, it does not fall under the LOS ANGELES RENT STABILIZATION ORDINANCE. This two-story walk up apartment complex enjoys 12,192 square feet of living area and contains 2- two bedroom one bath, 12- one bedroom one bath and 5- singles. It is situated nicely on a large 20,222 irregular shaped square foot lot with two main buildings and carports and...This late 1950's constructed 19-unit apartment complex sits in northwest area of the City of Inglewood. Although Inglewood has its own rent control ordinance, it does not fall under the LOS ANGELES RENT STABILIZATION ORDINANCE. This two-story walk up apartment complex enjoys 12,192 square feet of living area and contains 2- two bedroom one bath, 12- one bedroom one bath and 5- singles. It is situated nicely on a large 20,222 irregular shaped square foot lot with two main buildings and carports and tuck under parking. This is a complex that the majority of the neighborhood residents can afford to live in which usually means high occupancy and collections. Building is located in northwest Inglewood, east of La Cienega and south of Centinela. Inglewood and the surrounding municipalities are home to thousands of employers, creating incredible occupancy pressure on the existing housing stock in the area. Property is central to both the west side of Los Angeles and the South Bay beaches and communities of Manhattan Beach, Hermosa Beach, Redondo Beach, Torrance, and the Palos Verdes Peninsula. LAX is a short drive to the southwest. The City of Inglewood is home to SOFI Stadium and the Kia Forum. The newly completed K Line of the Los Angeles area light rail line system was recently completed and serves the city of Inglewood.
  1. Listed by James Gilb • DRE #00998653 • Brokerage DRE #00998653 • James F. Gilb

Property Details for 708 Venice Way

Water Front
None
Zoning
INR3YY
Style
Mid-Century
Cross Streets
Venice Way & Glenway Drive
Parcel Number
4017023013
Total Units
19.0
Living Area
12192
Source Living Area
Assessor

Location

Listing Courtesy of James F. Gilb, James Gilb, DRE #00998653
Add your commute
LISTING UPDATED: 04/30/2024 12:01 AM

Property Details for 708 Venice Way

StatusActive
MLS #24-382805
Days on Market14
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1958
Lot Size0.46 AC / 20,222 SF
CountyLos Angeles County

Location

Listing Courtesy of James F. Gilb, James Gilb, DRE #00998653
Add your commute

Building Information for 708 Venice Way

Stories2Residences-Year Built1958Building Size-Lot Size0.46 AC / 20,222 SF

Payment Calculator

$27,160 per month

30 year fixed, 7.25% Interest

Principal and Interest

$25,917

Property Taxes

$1,243

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 708 Venice Way

Community / Development
Community / Development
  • Number Of Units: 19
  • Senior Community: No
  • Builders Name: Venice Capri
Structure Info
Structure Info
  • Year Built Source: Vendor Enhanced
  • Number Of Stories: 2
  • Number Of Buildings: 2
  • Type Of Units: Apartments
  • View: No
  • View Description: None
  • View: None
  • Security Features: Automatic Gate
  • Direction Faces: North
  • Sewer: In Street
  • Water Heaters: Yes
  • Water Heater Features: Gas
Contract Info
Contract Info
  • Probate: No
  • Financing: Cash, Cash To New Loan
  • 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: $363,560
  • Net Operating Income: $202,221.00
  • Gross Income: $382,606
  • Cap Rate: 4.26%
  • Gross Rent Multiplier: $12.47
  • Actual Annual Gross Rent: $380,925.00
  • Financial Info as Of: 02/29/2024
  • Vacancy Allow Percent: 5.00%
  • Total Annual Expense: 161339
Land / Lot Info
Land / Lot Info
  • Additional Parcel Number: No
  • Lot Acreage: 0.4645
  • Lot Size Square Feet: 20222
  • Lot Size Dimensions: 55x261x100x131x45x150
  • Source Lot Size Dimensions: Assessor
Parking Details
Parking Details
  • Parking Garage: Covered Parking
  • Total Parking: 18
  • Covered Parking: 18
  • Open Other Spaces Total: 0
  • Garage Spaces Total: 14
  • Carport Spaces Total: 14
  • Parking Features: Covered
Interior Features
Interior Features
  • Levels: Two
  • Cooling: None
  • Cooling Type: None
  • Heating: Wall Furnace
  • Heating Type: Wall
  • Equipment: None
  • Laundry: Room
Exterior Features
Exterior Features
  • New Construction: No
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 04-22-2024
  • Rent Control: Yes
  • Rent Control: 100
  • Tenant Pays: Gas, Electricity
Unit Details
Unit 1 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,428.00
  • Unit Actual Rent: $1,428.00
  • Unit Projected Rent: $1,428.00
  • Like Units: 2
Unit 2 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,765.00
  • Unit Actual Rent: $1,765.00
  • Unit Projected Rent: $1,765.00
  • Like Units: 12
Unit 3 Information
  • Unit Beds: 0
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,539.00
  • Unit Actual Rent: $1,539.00
  • Unit Projected Rent: $1,539.00
  • Like Units: 5
Unit Details
  • Unit Type Type: 2106, 2107, 2108
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $527,386.00
  • Assessed Improvement Percent: 60.87
  • Assessed Land Value: $339,031.00
  • Assessed Land Percent: 39.13
  • Assessed Total Value: $866,417.00

Property History for 708 Venice Way

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

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

Public Records for 708 Venice Way

Taxable ValueLand$339,031Additions$528,286Total$867,317
Tax Record2023$14,911 ($1,243 / month)
Home Facts
Total Finished SqFt12,192 SqFtAbove Grade Finished SqFt12,192 SqFtLot Size20,230 SqFtStyleMulti-Family Res (5+ Units)Year Built1958ZoningINR3YYCountyLOS ANGELESAPN4017-023-013

Schools near 708 Venice Way

This home is within Inglewood Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 6
Public - K to 8
Charter - K to 8
Public - 9 to 12
Rating
School
Distance
Highland Elementary School
PublicK to 6

Parent (Frank D.) Elementary School
PublicK to 8

Inglewood High School
Public9 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.

Similar Homes

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708 Venice Way is a multi-family home for sale in Inglewood, CA 90302. This property was listed for sale on April 22, 2024 by James F. Gilb, it's currently listed at $4,749,000. This listing's school district is Inglewood Unified School District. Nearby schools include Highland Elementary School, Parent (Frank D.) Elementary School and La Tijera K-8 Charter School Academy of Excellence. 708 Venice Way is a 14-bed, 19-bath, 12,192 sqft multi-family home built in 1958.

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 James F. Gilb, James Gilb, DRE #00998653

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.