Venice, CA 90291 123 Park Place

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Presented By: Michelle Nissani with Douglas Elliman;
  • MLS# 23267293
  • 05/04/2023
  • Request Tour
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  • BedBeds • 2
  • BathBaths • 4
  • FootageSQFT • 2,008

Home Details

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.
Presented By: Michelle Nissani with Douglas Elliman;

Interior Features for 123 Park Place

Bedrooms

Total Bedrooms2

Bathrooms

1/4 Baths0
3/4 Baths0
Full Baths
Half Baths
Total Baths4

Other Interior Features

Air Conditioning Y/NNo
Basement (Y/N)No
Electric On Property Y/NNo
Fireplace Y/NNo
Heating Y/NYes
Laundry FeaturesCommonArea
Street SuffixPlace
Total Stories2

General for 123 Park Place

Additional Parcels Y/NNo
AppliancesDishwasher, Refrigerator
Attached Garage No
Buyer FinancingCash
Cap Rate3.09
Carport Y/NYes
CityVenice
CoolingNone
CountyLos Angeles
Days on Market354
DirectionsWest of Main, East of Pacific, South of Rose and North of Abbot Kinney/Brooks
Electric Expense1279.0
Garage Y/NNo
Gross Income86220.0
HOA / Comm AssnNo
HeatingWallFurnace
Home Warranty Y/NNo
Interior FeaturesCeilingFans
Land Lease Y/NNo
Lease Considered Y/NNo
Lease Renewal Y/NNo
LevelsMultiSplit
Lot Size Square Feet2250.0
MLS AreaC11 - Venice
MobileHomeRemainsYNNo
Net Operating Income60419.4
New ConstructionNo
Occupancy TypeTenant
Open Parking Spaces3.0
Private PoolNo
Property Attached Y/NNo
Property TypeResidentialIncome
Rent Control Y/NNo
Senior Community Y/NNo
Special Listing ConditionsStandard
Standard StatusActiveUnderContract
StatusActiveUnderContract
Street NamePark
Taxes$23,200
Total Units4
View Y/NNo
Water Sewer Expense770.0
Waterfront Y/NNo
Year Built1965
ZoningLARD1.5

Exterior for 123 Park Place

Building Area Total2008.0
Crops Included Y/NNo
Horse Y/NNo
Irrigation Water Rights Y/NNo
Lot Size Acres0.0517
Lot Size Area2250.0
Lot Size UnitsSquareFeet
Number of Buildings1
Open Parking Y/NNo
Parking FeaturesCarport
SpaNo
Total Parking6.0

Additional Details

Price History

1527188455

First Team Client Services

Price $1,950,000
MLS#23267293
List Date 05/04/2023
Property Type Multi-Family
Phone 714.964.3311
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