This is a carousel with tiles that activate property listing cards. Use the previous and next buttons to navigate.
1/25
538 Rialto Ave, Venice, CA 90291
$2,600,000
538 Rialto Ave, Venice, CA 90291View this property at 538 Rialto Ave, Venice, CA 90291
538 Rialto AveVeniceCA90291
This is a carousel with tiles that activate property listing cards. Use the previous and next buttons to navigate.
1/25
Property 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 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.
Full Property Details
Full Property Details for 538 Rialto Ave
General
- Price: $2,600,000
- Status: Active
- Type: Multi-Family
- MLS ID: 23-286813
- Updated: 4/24/2024
- Added to Site: 319 day(s) ago
Rooms
Bathrooms
- Total Bathrooms: 9
Bedrooms
- Total Bedrooms: 9
Additional Information
- Other Features: None
Parking
- Garage Description: Parking Space
Location
- Area: Venice
- County: Los Angeles
- Driving Directions: Grand Blvd & Rialto Ave
Heating & Cooling
- Cooling Type: None
- Heating Type: Wall
Structural Information
- # Buildings: 8
- Stories/Levels: 1
- Square Feet: 2,768
- Sq. Ft. Source: Vendor Enhanced
- Year Built: 1922
- Year Built Source: Vendor Enhanced
Unit Information
- Units in Complex: 8
- Unit Type: 2106, 2107, 2108
Unit 1
- Total Bathrooms: 1.5
- Bedrooms: 2
Unit 2
- Total Bathrooms: 1
- Bedrooms: 1
Unit 3
- Total Bathrooms: 1
Additional Structures
- Other Structures: None
Lot Features
- Lot Size (Acres): 0.1757
- Lot Size: 7652
- Lot Size Source: Assessor
- Zoning: LARD1.5
Financial Considerations
- Price Per Sq. Ft.: $939.31
- Assessment Year: 1922
Disclosures and Reports
- Disclosures/Reports: None
- APN: 4238-016-014
Listed by KW Advisors, Kimberly Roberts Stepp
Get Pre-Approved Today
Schools
Schools serving 538 Rialto Ave
School District:Los Angeles Unified School District
Rating | Name | Grades | Distance |
---|---|---|---|
1010 Abbot Kinney Blvd, Venice, CA 90291 | K-5 | 0.4 mi | |
2224 Walgrove Ave, Los Angeles, CA 90066 | 6-8 | 1.3 mi | |
13000 Venice Blvd, Los Angeles, CA 90066 | 9-12 | 1.4 mi |
Disclaimer: School ratings provided by
GreatSchools. Ratings are on a scale of 1-10.
Learn more about GreatSchools ratings.
School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.
Price & Sales History for 538 Rialto Ave
Date
Details
Price
Change
Source
1/16/2024
Price Reduced
$2,600,000
-6.98%
MLS
8/02/2023
Price Reduced
$2,795,000
-9.84%
MLS
7/03/2023
Listed
$3,100,000
—
MLS
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
Tax History
Tax History for 538 Rialto Ave
Year
Property Taxes
Change
Tax Assessment
Change
2023
$3,022
3%
$171,548
2%
2022
$2,922
2%
$168,185
2%
2021
$2,876
-1%
$164,889
1%
2020
$2,894
3%
$163,199
2%
2019
$2,814
3%
$160,000
2%
2018
$2,727
3%
$156,863
2%
2017
$2,640
3%
$153,788
2%
2016
$2,561
1%
$150,774
2%
2015
$2,535
-2%
$148,511
2%
2014
$2,600
1%
$145,603
—
2013
$2,584
—
$144,946
—
Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
Estimate the Cost
Estimate the Cost for 538 Rialto Ave
538 Rialto Ave, Venice, CA 90291 (MLS# 23-286813) is a Multi-Family property with units containing 9 bedrooms and 0 full bathrooms. 538 Rialto Ave is currently listed for $2,600,000 and was received on July 03, 2023. Want to learn more about 538 Rialto Ave? Do you have questions about finding other Multi-Family real estate for sale in Venice? You can browse all Venice real estate or contact a Coldwell Banker agent to request more information.