605 Indiana Avenue

Venice, CA 90291

$3,500,000
Price
7
Beds
6
Baths
2,638 Sq. Ft.
$1,327 / Sq. Ft.
2,638
Sq. Ft.
$1,327
per Sq. Ft.

Description

This exceptional property presents a remarkable opportunity for investors seeking high rental yields or owner-users wishing to live in one unit while generating income from the others. Each unit has undergone a significant remodel in 2014, featuring beautiful distressed hardwood floors, farmhouse closet doors, custom cabinetry, and modern kitchens and bathrooms equipped with Caesarstone countertops and stainless steel appliances. The property boasts enhanced privacy with new landscaping, a secure...This exceptional property presents a remarkable opportunity for investors seeking high rental yields or owner-users wishing to live in one unit while generating income from the others. Each unit has undergone a significant remodel in 2014, featuring beautiful distressed hardwood floors, farmhouse closet doors, custom cabinetry, and modern kitchens and bathrooms equipped with Caesarstone countertops and stainless steel appliances. The property boasts enhanced privacy with new landscaping, a secure electric gate, and dedicated parking for each unit. Unit 605 is the front Bungalow which is a spacious 3 bed, 2 bath home with a loft in one bedroom, cathedral ceilings in the living room, and a private front yard ideal for Venice Beach's indoor-outdoor lifestyle. Comes with 2 dedicated parking spaces & private laundry area. Unit 607 is a 2 bed, 2 bath layout featuring a private covered outdoor deck and its own entrance, along with designated parking & in unit stacked laundry . Unit 609 is the upper 2 bed, 2 bath space offers stunning roofline views and includes a dedicated parking space and separate pedestrian gate access w/ in unit laundry. Thanks to its prime location, just a short walk or bike ride from Abbot Kinney Blvd, Rose Ave, Lincoln Blvd, and the beach, these units consistently attract high market rents shortly after listing. Additionally, the duplex portion of the property is not subject to the Rent Stabilization Ordinance (RSO) as this was completed in 2014 per LADBS. Don't miss this rare opportunity to invest in a highly desirable Venice property! Contact the listing agent for more details.
  1. Listed by Karsten Demers • DRE #01962663 • Brokerage DRE #01464847 • Coldwell Banker Realty

Property Details for 605 Indiana Avenue

Zoning
LARD1.5
Style
Bungalow
Parcel Number
4239003007
Total Units
3.0
Living Area
2638
Source Living Area
Vendor Enhanced
Area
Venice (C11)
Vacancy Rate
0
LISTING UPDATED: 11/20/2024 11:58 AM

Property Details for 605 Indiana Avenue

StatusActive
MLS #24-447325
Days on Market52
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1921
Lot Size0.12 AC / 5,019 SF
CountyLos Angeles County

Building Information for 605 Indiana Avenue

Stories2Residences-Year Built1921Building Size-Lot Size0.12 AC / 5,019 SF

Property Information for 605 Indiana Avenue

Community / Development
Community / Development
  • Number Of Units: 3
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Vendor Enhanced
  • Number Of Stories: 2
  • Number Of Buildings: 2
  • Type Of Units: Mixed
  • Water Heaters: Yes
  • ADA Compliance: Yes
  • Building Permit: Yes
Contract Info
Contract Info
  • Financing: Cash, Cash To New Loan
  • Disclosures: As Is, Coastal Zone, Property Report, Rent Control
  • Listing Type: Exclusive Right To Sell
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Actual
  • Gross Operating Income: $192,600
  • Net Operating Income: $130,754.08
  • Gross Income: $192,600
  • Gross Rent Multiplier: $18.10
  • Financial Info as Of: 09/30/2024
  • Owner Pays: Gardener, Water, Other
  • Total Annual Expense: 61845.92
Land / Lot Info
Land / Lot Info
  • Lot Acreage: 0.1152
  • Lot Size Square Feet: 5019
  • Lot Size Dimensions: 60x84
  • Source Lot Size Dimensions: Vendor Enhanced
Parking Details
Parking Details
  • Parking Garage: Assigned, Driveway, Driveway - Concrete, Parking Space, On street, Gated, Private
  • Total Parking: 5
  • Parking Features: Assigned, Driveway, Concrete, Parking Space, Street, Gated, Private
Interior Features
Interior Features
  • Levels: Two
  • Cooling: Central Air
  • Cooling Type: Central, Wall Unit(s)
  • Heating: Central
  • Heating Type: Central
  • Equipment: Cable, Built-Ins, Ceiling Fan, Dishwasher, Garbage Disposal, Microwave, Refrigerator, Range/Oven, Washer, Other, Dryer, Vented Exhaust Fan
  • Interior Features: Ceiling Fan(s)
  • Common Walls: Attached
  • Laundry: Washer Included, Dryer Included
Exterior Features
Exterior Features
  • New Construction: No
  • Other Structures: Other
Lease Terms
Lease Terms
  • Entry Date: 10-02-2024
  • Tenant Pays: Cable TV, Electricity, Gas, Insurance, Other
Unit Details
Unit 1 Information
  • Unit Beds: 3
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $6,600.00
  • Unit Actual Rent: $6,600.00
  • Unit Projected Rent: $7,000.00
  • Like Units: 605
Unit 2 Information
  • Unit Beds: 2
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $5,600.00
  • Unit Actual Rent: $5,600.00
  • Unit Projected Rent: $5,600.00
  • Like Units: 607
Unit 3 Information
  • Unit Beds: 2
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $3,850.00
  • Unit Actual Rent: $3,850.00
  • Unit Projected Rent: $4,000.00
  • Like Units: 609
Unit Details
  • Unit Type Type: 2106, 2107, 2108
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $1,285,032.00
  • Assessed Improvement Percent: 42.34
  • Assessed Land Value: $1,749,832.00
  • Assessed Land Percent: 57.66
  • Assessed Total Value: $3,034,864.00

Property History for 605 Indiana 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 605 Indiana Avenue

Taxable ValueLand$1,784,828Additions$1,310,732Total$3,095,560
Tax Record2024$37,595 ($3,133 / month)
Home Facts
Total Finished SqFt2,638 SqFtAbove Grade Finished SqFt2,638 SqFtStories1Lot Size5,017 SqFtStyleTriplexYear Built1921ZoningLARD1.5CountyLOS ANGELESAPN4239-003-007

Schools near 605 Indiana Avenue

This home is within Los Angeles Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - K to 5
Public - K to 5
Public - 6 to 8
Rating
School
Distance
Broadway Elementary School
PublicK to 5

Walgrove Avenue Elementary School
PublicK to 5

Westminster Avenue Elementary School
PublicK to 5

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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605 Indiana Avenue is a multi-family home for sale in Venice, CA 90291. This property was listed for sale on October 2, 2024 by Coldwell Banker Realty, it's currently listed at $3,500,000. It has been on the market for a total of 52 days and was last sold on January 11, 2018. This listing's school district is Los Angeles Unified School District. Nearby schools include Broadway Elementary School, Walgrove Avenue Elementary School and Westminster Avenue Elementary School. 605 Indiana Avenue is a 7-bed, 6-bath, 2,638 sqft multi-family home built in 1921.

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 Coldwell Banker Realty, Karsten Demers, DRE #01962663

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.