538 Rialto Avenue
Venice, CA 90291
- – beds
- – baths
- – sqft
- 7,652 sqft lot
- 1922 build
- – on site
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.
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Last updated Apr 24, 2024
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MLS# 23286813 —
Walk Score®
Provided by WalkScore® Inc.
Walk Score is the most well-known measure of walkability for any address. It is based on the distance to a variety of nearby services and pedestrian friendliness. Walk Scores range from 0 (Car-Dependent) to 100 (Walker’s Paradise).
Soundscore™
Provided by HowLoud
Soundscore is an overall score that accounts for traffic, airport activity, and local sources. A Soundscore rating is a number between 50 (very loud) and 100 (very quiet).
Sale history
| Date | Event | Source | Price | % Change |
|---|---|---|---|---|
|
1/16/24
Jan 16, 2024
|
Price Changed | CRMLS_CA | $2,600,000 | -7.0% |
|
8/2/23
Aug 2, 2023
|
Price Changed | CRMLS_CA | $2,795,000 | -9.8% |
|
7/3/23
Jul 3, 2023
|
Listed / Active | CRMLS_CA | $3,100,000 |