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| DERRICK'S
LISTINGS
>> CURRENT
LISTINGS
| SOLD
LISTINGS |
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SOLD APARTMENTS |
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Welcome to my sold single family homes page. Please click on the properties to view descriptions and photos of any of my sold listings. If you need more information or the selling price and terms of any of these sold properties, please call me locally at (310)482-2194 or toll free at (888) 276-0656 or
email me and I'll get you the information. By the way, this is just a small representation of my actual closed sold listings.
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Type:
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Venice Beach Fourplex
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Area:
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Venice
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Address:
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1148 Venice
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Sq Ft:
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31146 sq ft
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Unit Mix:
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4 Units - All 1 Bedroom & 1 Bath
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Price:
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$899,000
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THIS PROPERTY SOLD FOR $899,000.00 - July 2004.
This charming fourplex is located just minutes to world famous Venice Beach. The property has been updated and remodeled. New roof, new windows, newly painted, all units have laundry hookups. This 2 Story wood frame/stucco property consists of four 1 bedroom 1 bath units and a four car detached garage. The property was built in 1952 and has been updated with a newer roof. The building has approximately 3,116 square feet, the lot is approximately 4,486 square feet.
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Type:
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2 Story Mar Vista Fiveplex
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Area:
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Mar Vista
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Address:
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11906 Venice Blvd
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Sq Ft:
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31146 approx sq ft
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Unit Mix:
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5 Units - 2-2 Bdrm & 1 Bath, 2-1 Bdrm & 1 Bath, 1 - Studio & Bath
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Price:
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$829,000
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THIS PROPERTY SOLD
This 2 story Fiveplex is located west of the 405 Freeway and about 10 minutes to Venice Beach. The property consists of Two 2 bedroom 1 bath units, Two 1 bedroom 1 bath units & a studio. The total monthly rent on these units is $4077. The total annual income is $48,924. The property has approximately 3,063 square feet and was built in 1949. The lot measures approximately 6,882 sq ft and it is zoned
LA R-3. The property has new water heaters and some new windows. There is a four car garage and a laundry room. The additional fifth studio unit is due to have a variance issued, the property was originally 4 units. Live in one unit and let the tenant help pay your mortgage.
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Type:
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Venice Beach Triplex
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Area:
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Venice
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Address:
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725 Vernon Ave
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Sq Ft:
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1,440 approx sq ft
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Bedrooms:
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3 Units - All 1 Bedrm & 1 Bath
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Price:
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$649,000
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THIS PROPERTY SOLD FOR $655,000.00 - April 2004.
This charming triplex is located 2 blocks west of Lincoln Blvd and about 9 blocks to world famous Venice Beach. This is a great owner-user property for someone looking to get in to their first property. Live in this triplex and collect the rents to help pay your mortgage.
This 1 Story wood frame/stucco property consists of three 1 bedroom 1 bath side-by-side attached units and a three car detached garage. The property was built in 1952 and has been updated with a newer roof. The building has approximately 1,440 square feet, about 480 square feet per unit. The lot is approximately 4,791 square feet.
The total monthly rents total $2,160. The total annual rents are $25,920.
Potential garage income is $450 per month. Live in one of the units and get help with the mortgage from the other two units or buy the property as an investment.
Here are some potentials numbers for an owner user if he or she was to occupy a unit and rent the other units out and put 20% down.
Potential Garage Income =$450 per month
Rents for other two units =$1575 per month
Total Projected Income = $2,025 per month
Total Loan Payment
1st Loan 5.75%
Plus Taxes & Insurance =$3,791 per month
Less projected rental income = -$2,205
TOTAL NET PAYMENT = $1,586
The good thing about this projection is that you can get a “stated-income” loan for this property. Also known as an EZ-Qualifier loan, the bank is going to rely solely on your decent credit and your 20% down payment. No tax returns or check stubs need. You should have a minimum FICO score of 620 for this particular program.
There is a lot of upside on the rents for this property. The rents are currently at about 60% of market value. I project that each of the units should rent for about $1250 per month or combined $3600. This is a good property for the owner user who can live in the property and then fix up and raise the rents as the tenants turn over. For more information please call Derrick Ruiz at (310)482-2194.
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Type:
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Hugh 2 Story View Fourplex
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Area:
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Santa Monica
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Address:
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722 Pier Ave
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Sq Feet:
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4,107 approx sq ft
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Beds/Baths:
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4 Units - All 2 Bedrm & 1 Bath, 3 Bungalows - 2 Bedrm + 1 Bath
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Price:
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$1,195,000
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THIS PROPERTY SOLD FOR $1,198,000.00 - March2004.
Ocean Park Fourplex - $1,195,000
This 2 story Santa Monica Fourplex is located in the popular Ocean Park neighborhood about 1.5 blocks west of Lincoln Blvd and about 5 blocks to the popular Main St shopping and dining area. It is perched at the crest of a gentle hill and there are sweeping south-westerly views from the rear of the property looking out towards Palos Verdes peninsula.
The property consists of Four 2 bed 1 bath units, a three car garage, an artist studio with a half bath, and an attached laundry room. The units are very large at about 1,000 square feet each. The bottom units have patios and the upper units share a large deck. The deck, the patios, and the stairwells have just been completely remodeled and are essentially brand new. The seller states that everything was done to code and with permits as per the City of Santa Monica.
The building has about 4100 square feet and the lot size is about 5039 square feet. The lot is zoned SMR 2YY.The small artists studio has just been refinished and has a half bath, concrete floors, and great natural light. The building is wood frame and stucco construction and was built in 1963.
Rents are as follows: Unit A is $1345, Unit B is vacant, Unit C is vacant, and Unit D is rented for $870. There two vacant units are projected at $1750 per month. The projected monthly income with current plus the projected rents are $6390. The projected annual income with current plus the projected rents are $76,680.
This is a great opportunity for an owner/user buyer who wants an Santa Monica lifestyle with rents to help pay the mortgage. Take the prime upper owners unit and enjoy wonderful sweeping views. The vacant units can be easily seen, please call for an appointment. Please see my website at www.derrickruiz.com for more information.
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Type:
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Large Triplex
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Area:
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Venice
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Address:
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425 Westiminster
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Sq Ft:
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1,824 approx sq feet
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Unit Mix:
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3 Bungalows, 2 Bedrms + 1 Bath
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Price:
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$949,000
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THIS PROPERTY SOLD FOR $895,000 - February 2004.
425 Westminster
OFFERED AT $949,000
Remodeled Venice Beach Triplex - 3 Houses on 1 lot- $949,000
Welcome to this completely rehabbed Venice Beach triplex. This property consists of three separate 2 bed 1 bath bungalows located on one single oversized lot. There is also a detached 2 Car garage. The property is located in the Venice Artist district, just 1 block to the Popular Abbot Kinney shopping and restaurant district and about 4 blocks to the world famous Venice Beach Boardwalk. Ride your bike to the beach for a fabulous sunset or stroll to a variety of local cafes for a cappuccino or a cocktail. The large lot is approximately 5,184 square feet and there is room for expansion. It is located on the corner of Westminster and 5th Ave.
This property consists of 3 stucco and wood-frame bungalows. Each bungalow has separate patios, refinished hardwood floors, new kitchens, new wall heaters, new bathrooms, new electrical, new plumbing, new roofs, fresh paint, and attached laundry sheds for washer-dryers. The owner has just completed the remodels as of September 2003. The larger end bungalow would make a perfect owner-user unit while he or she collects rents from the other two units. The owner has also poured new concrete patios, installed new landscaping with automatic sprinklers, installed motion detector security lighting, installed new sewer lines, gas lines, water lines, and separate water meters, and painted the exteriors. In addition to the 2 Car garage there is an uncovered parking pad off the alley for another car. All of the utilities are separately metered including the water so this will reduce the carrying cost for the new owner. Even the automatic sprinklers are metered to the tenants. Any buyer purchasing the property will have to do very little if any work to the property.
The property was originally built in 1953. All of the units are currently vacant and will be delivered vacant. The projected rents are as follows: The largest owners unit is projected to rent for about $1850. This unit is approximately 700 square feet. The smaller units are projected to rent for about $1650 per month. They are approximately 600 square feet. Garage rents should be about $300 per month. Total projected monthly income is $5,450. Total projected annual income is $65,400. Projected gross rent multiplier is 14.7. Projected payment with 20% down payment ($189,800) and an 80% loan ($759,200) at 5.75%, amortized for 30 years is $4409. With taxes and insurance the total projected payment is $5,497. Not including gardener or repairs this property just about breaks even. If the buyer occupies the main unit, then the buyer should pay about $2,047 monthly to live there (includes using one of the parking spots).
This is a great owner/user or investment property in a good Venice Beach location. Live in the large unit and collect rents, or rent them out for cash flow. Perhaps an owner can use them for artist studios. Please see the Visual Tour on my Website for more information and multiple photos of this property. Please call me for more information or for a private viewing.
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Type:
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Large Triplex
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Area:
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Venice
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Address:
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31 South Venice Blvd
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Lot Size:
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approx 2744
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Beds/Baths:
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3 Bd + 2 Ba
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Price:
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$995,000
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THIS PROPERTY SOLD FOR $995,000 - July 2003.
Super Owner/User Venice Beach Triplex
31 S. Venice Blvd Venice Ca 90291
Asking $925,000
OFFERED AT $925,000
Welcome to this wonderful Venice Beach triplex located just steps to the sand. This property was originally built in 1938 and has been totally remodeled since then. This 2-story property has consists of a 2 bedroom 2 bath upper unit and two 1 bedroom 1 bath lower units. There is a 3 car detached garage with alley access and there is a nice private patio in the rear. The property itself is approximately 1968 square feet and the lot is 2657 square feet. The property is located just east of Speedway and west of Pacific steps to the sand.
The owner’s unit is has been totally remodeled with all kinds of upgrades including Saltillo Tile floors, a new kitchen, new baths, designer paint, ceiling fans, crown molding, and much more. The owner’s unit is about 1000 square feet. The lower 1 bedroom 1 bath units both have the same layouts and are about 500 square foot each. They also have hardwood floors. One unit has been upgraded and one has not. The upper owner’s unit has been rented for $2400 but can be delivered vacant at the close of escrow. The bottom units are rented for $1500 and $1100 per month. Current total monthly income is $5000 and the current annual income is $60,000. There is a laundry room attached to the rear of the property.
There are lots of cool details to this property. The owner’s unit floor plan is very open and flowing and perfect for weekend BBQ’s, family get-togethers or just chilling out after a day at the beach. This is a great home for a couple or small family who are looking for a casual laid back beach home but also want some rental income to help pay the mortgage. Perfect for creative or artistic types. To view this property, please call Derrick Ruiz at the office (310)482-2194 or cell 310-308-3174.
Broker/Agent does not guarantee the accuracy of the square footage, lot size, income or other information concerning the conditions or features of the property provided by the seller or obtained from Public Records or other sources. Buyer is advised to independently verify the accuracy of all information through personal inspection and with appropriate professionals. Information deemed reliable but not guaranteed.
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Type:
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7 Unit Westwood Apartment Building
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Area:
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Westwood
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Address:
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1933 Pelham Ave
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Lot Size:
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6751
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Unit Mix:
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Five 2+2's, One 1+1, 0+1
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Price:
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$1,699,000
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THIS PROPERTY SOLD FOR $1,650,000- December 2006.
Property being sold for land value. Call your developer clients. New copper plumbing, 10 year old roof, 6 car parking, laundry room. LA City rent control. Located in Westwood 2 blocks south of Santa Monica Blvd and 1 block east of Overland. Trust sale, no court confirmation needed, motivated, submit best offer. All offers considered and will be presented promptly. Two units can be delivered vacant.
To view this property, please call me at the office (310)482-2194, or my cell 310-308-3174, or email me at derrick@derrickruiz.com. For more information or go to my website at www.derrickruiz.com
Broker/Agent does not guarantee the accuracy of the square footage, lot size, income or other information concerning the conditions or features of the property provided by the seller or obtained from Public Records or other sources. Buyer is advised to independently verify the accuracy of all information through personal inspection and with appropriate professionals. Information deemed reliable but not guaranteed.
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Type:
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Venice Triplex
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Area:
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Venice
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Address:
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2218 Penmar Ave
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Lot Size:
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5889
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Unit Mix:
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Two 3+2, One Single
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Price:
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$1,299,000
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THIS PROPERTY SOLD FOR $1,200,000- December 2006.
Great Venice triplex on cool street. Separate 3Br+den+2Ba SFR in front with 3+2 apt over 2 car garage + studio apt. 4 more uncovered parking spots, laundry room, large backyard, alley access. Great owner user, live in front house & collect rents to help with loan. Or use as income property with decent 76K annual income. Fully rented at the moment. Rear 2 units not under rent contro! Rents are projected. Tenants in studio and 3br apartment have been given rent increases to $900 and $2350. The front SFR tenants should be out by Oct 1st and the $2750 rent is projected for new tenant. Garages now used for storage (not rented to any tenants) and will be vacant at COE. They should bring in $350 per month. I can probably only show the studio and upper 3br apartment at this time. SFR tenants are quite messy. I have the permits and C of O on file for the 2 apartments added in '89.]
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