538 Rialto Avenue

Venice, CA 90291

$2,195,000
Price
9
Beds
9
Baths
2,768 Sq. Ft.
$793 / Sq. Ft.
2,768
Sq. Ft.
$793
per Sq. Ft.

Description

Discover a truly unique investment property in the heart of Venice! Situated on a rare triple lot just blocks from the world-renowned Abbot Kinney Boulevard, the Rose Corridor, and iconic Venice Beach, this 8-bungalow compound offers unparalleled charm, location, and potential. Property Highlights: Unit Mix:(1) 2-bedroom, 2-bathroom unit, (2) 1-bedroom, 1-bathroom units, and (5) studios. The bungalows are centered around a picturesque courtyard adorned with a majestic tree, creating a serene, community-centric...Discover a truly unique investment property in the heart of Venice! Situated on a rare triple lot just blocks from the world-renowned Abbot Kinney Boulevard, the Rose Corridor, and iconic Venice Beach, this 8-bungalow compound offers unparalleled charm, location, and potential. Property Highlights: Unit Mix:(1) 2-bedroom, 2-bathroom unit, (2) 1-bedroom, 1-bathroom units, and (5) studios. The bungalows are centered around a picturesque courtyard adorned with a majestic tree, creating a serene, community-centric environment. Most units include their own private outdoor areas, perfect for soaking up the Southern California sun. Nestled on a quiet street, this property offers unbeatable walkability. Stroll to Abbot Kinney Boulevard for its trendy shops, cafes, and dining, or enjoy the vibrant energy of the Rose Corridor. With its premier location and versatile unit mix, this property, zoned RD1.5-1-0, presents massive 52% rental upside potential and over 9% cap rate at market rents. Whether you're an investor seeking a strong-performing asset or someone looking to curate a one-of-a-kind living community, this is a rare chance to own a piece of Venice's unique lifestyle. Don't miss this exceptional opportunity in one of Los Angeles' most coveted neighborhoods!
  1. Listed by Tyler Kunkle • DRE #01965642 • Brokerage DRE #01421451 • Pardee Properties

Property Details for 538 Rialto Avenue

Zoning
LARD1.5
Style
California Bungalow
Parcel Number
4238016014
Total Units
8.0
Living Area
2768
Source Living Area
Vendor Enhanced
Area
Venice (C11)
Vacancy Rate
0
LISTING UPDATED: 12/18/2024 12:01 AM

Property Details for 538 Rialto Avenue

StatusActive
MLS #24-468487
Days on Market11
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1922
Lot Size0.18 AC / 7,654 SF
CountyLos Angeles County

Building Information for 538 Rialto Avenue

Stories-Residences-Year Built1922Building Size-Lot Size0.18 AC / 7,654 SF

Property Information for 538 Rialto Avenue

Community / Development
Community / Development
  • Tax Mello Roos: Unknown
  • Number Of Units: 8
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Vendor Enhanced
  • Number Of Stories: 0
  • Number Of Buildings: 6
  • Type Of Units: apartments
Contract Info
Contract Info
  • Disclosures: As Is, Coastal Commission Restrictions
  • Listing Type: Exclusive Right To Sell
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Actual
  • Gross Operating Income: $171,630
  • Net Operating Income: $105,730.00
  • Gross Income: $171,630
  • Cap Rate: 4.82%
  • Gross Rent Multiplier: $12.79
  • Total Annual Expense: 65900
Land / Lot Info
Land / Lot Info
  • Lot Acreage: 0.1757
  • Lot Size Square Feet: 7654
Parking Details
Parking Details
  • Parking Garage: Shared Driveway
  • Total Parking: 5
  • Open Other Spaces Total: 5
  • Parking Features: Shared Driveway
Interior Features
Interior Features
  • Levels: One
  • Cooling: None
  • Cooling Type: None
  • Heating: Wall Furnace
  • Heating Type: Wall
  • Equipment: Refrigerator, Range/Oven, Stackable W/D Hookup, Washer, Dryer
  • Common Walls: Attached
  • Laundry: In Unit
Exterior Features
Exterior Features
  • New Construction: No
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 12-10-2024
  • Rent Control: Yes
  • Rent Control: 100
Unit Details
Unit 1 Information
  • Unit Beds: 2
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $2,682.30
  • Unit Actual Rent: $2,682.30
  • Unit Projected Rent: $4,000.00
  • Like Units: 1
Unit 2 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $2,028.00
  • Unit Actual Rent: $4,056.00
  • Unit Projected Rent: $6,000.00
  • Like Units: 2
Unit 3 Information
  • Unit Beds: 0
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,512.80
  • Unit Actual Rent: $7,564.20
  • Unit Projected Rent: $12,000.00
  • Like Units: 5
Unit Details
  • Unit Type Type: 2106, 2107, 2108
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $49,980.00
  • Assessed Improvement Percent: 29.13
  • Assessed Land Value: $121,568.00
  • Assessed Land Percent: 70.87
  • Assessed Total Value: $171,548.00

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$123,999Additions$50,979Total$174,978
Tax Record2024$3,060 ($255 / 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.

Similar Homes

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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 December 10, 2024 by Pardee Properties, it's currently listed at $2,195,000. 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. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Pardee Properties, Tyler Kunkle, DRE #01965642

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.