Venice Condo Sales Update - June 2009

CONDO MARKET UPDATE – June 2009

Condo values continue to slide in June 2009. See info below, along with my current sales and listings in Venice, Santa Monica and Marina del Rey.

SANTA MONICA – WEST OF LINCOLN

# of New Listings - 5

# of Sold Listings - 8

Average Price Per Unit Sold - $670,000

Average Price Per SQFT SOLD - $617.00

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VENICE– WEST OF LINCOLN

# of New Listings - 7

# of Sold Listings - 6

Average Price Per Unit Sold - $662,000

Average Price Per SQFT SOLD - $510.00

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MARINA DEL REY – WEST OF LINCOLN

# of New Listings - 16

# of Sold Listings - 11

Average Price Per Unit Sold - $499,000

Average Price Per SQFT SOLD - $355.00

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Brian’s June SOLD LISTINGS:

3019 Third Street Unit 404, SANTA MONICA – www.3019Condo.com

Beds 2 Baths 2 Living Space 1,371 SQFT / List Price $849,000 – Sale Price - $1,000,001^

*Brian represented the Seller

424 Venice Blvd #1, VENICE

Beds 2 Baths 2.5 Living Space: 1,956 / List Price $899,000 – Sale Price - $850,000

*Brian represented the Buyer

2306 Sixth Street, SANTA MONICA – www.2306Sixth.com

Beds 2 Baths 1 Living Space: 1,081 SQFT / List Price $624,999 – Sale Price - $609,000

*Brian represented both the Seller & Buyer

2431 3^rd Street Unit 10, SANTA MONICA – www.2431Third.com

Beds 1 Baths 1 Living Space: 641 SQFT – List Price - $479,000 – Sale Price - $525,000^

*Brian represented the Seller

1123 Tenth Street Unit H, SANTA MONICA – www.1123Tenth.com

Beds 2 Baths 1 Living Space: 806 SQFT – List Price $499,000 – Sale Price - $515,000^

*Brian represented the Seller

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Brian’s New Escrows:

2020 Sixth Street #4, SANTA MONICA – www.2020Sixth.com (3 offers in the first week)

Beds 2 Baths 3 + Loft Living Space: 1,669 SQFT – List Price $1,039,000

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Brian’s New Listings:

6756 Woodrow Wilson, Hollywood Hills – www.WoodrowModern.com

Beds 2 Baths 2.5 Living Space: 3,000 SQFT – List Price $1,199,000

343 Rennie Ave #5, VENICE – www.343Rennie.com

Beds 2 Baths 2 Living Space: 1,362 – List Price $849,000

2021 California Ave #10, SANTA MONICA – www.2021California.com

Beds 3 Baths 2 Living Space: 1,460 – List Price $799,000

2940 Neilson Way #204, SANTA MONICA – www.SeaColonyUnit.com

Beds 1 Baths 1.5 Living Space: 1,081 - $649,000

Venice Duplex sold by Brian Maser in 1 week (3/15/2009)

Venice Duplex -- 1802-1804 Andalusia Avenue, Venice, CA 90291 - asking price $595,000

Sold in 3 days. We had 7 offers and closed 10% above asking price for $659,000 in February of 2009.

The market will always help you sell at the highest value. Even in this tough market.

Brian Maser
Abbot Kinney Real Estate
310-795-8010
brian@abbotkinneyrealestate.com

Venice California Residential Income Property (real estate)

Brian Maser

Abbot Kinney Real Estate

Residential and Investment Property Specialist

310-795-8010


RES-INC: 1909 OCEAN FRONT , VENICE ,CA 90291
MLS#: 07-223801
LP: $3,100,000
AREA: (11)Venice
STATUS: A
POOL: No
MAP: 671/G6
STYLE:
ZONE: LAR3
YB: 1972
#U: 4
APN: 4226-012-003
STO: 2
APX LSZ: 3,615/VN
APX SF: 6,643/OT
ADP:
SCHED/ACT: Actual
RENT CNTRL %:
PKGT: 8
PKGC: 8
GRM: 24.75
TYPE: Residentail
$/SQ FT: 466.66
$/UNIT:
SEP METERS:
# STUDIOS: 0
# 1 BR: 0
# 2 BR: 9
# 3-4 BR: 1
CAP RATE: 2.85
DIRECTIONS: On Boardwalk 1 block North of Venice Blvd
REMARKS: On the boardwalk in front of the paddle ball courts, unit #2 2bed/3bath vacant, 4 large units (1,350-2,000 sq ft) W/fireplaces & decks, amazing views of beach/Malibu/boardwalk/Catalina, Upper units have lofts/high ceilingis/private roof decks, Unit #1 recently remodeled, 8 car garage. Condo conversion approved by city of LA + Coastal Comm w/conditions. Can get new 80% LTV financing. Must see. L/U-Lower/Upper, N/S-North/South, Unit #1-LS, #2-LN,# 3-US, #4-UN Seller is RE Broker
Type
# Units
BR
BA
Furn(y/n)
Revenue
Unit 1
1
3
4.00
No
$4,148
Unit 2
2
2
3.00
No
$0
Unit 3
3
2
2.00
No
$2,239
Unit 4
4
2
3.00
No
$1,885
AGI: $93,967
VACANCY: 0
GOI: 133217
OTHER INC:
TOTAL INC:
TOTAL EXP: $39250
LP: $3,100,000
DOM: 248
LD: 10/01/2007

OLP: $3,350,000
NOI: $93,967

RES-INC: 236 MARKET ST , VENICE ,CA 90291
MLS#: 08-278969
LP: $1,139,000
AREA: (11)Venice
STATUS: A
POOL: No
MAP: 671/H6
STYLE:
ZONE: LARD1.5
YB: 1940
#U: 4
APN: 4238-013-027
STO: 0
APX LSZ: 2,700/OT
APX SF: 1,620/OT
ADP:
SCHED/ACT: Actual
RENT CNTRL %:
PKGT: 0
PKGC:
GRM: 0.00
TYPE: Income
$/SQ FT: 703.09
$/UNIT:
SEP METERS:
# STUDIOS: 0
# 1 BR: 2
# 2 BR: 0
# 3-4 BR: 0
CAP RATE:
DIRECTIONS: E / Main Street near Venice Circle
REMARKS: Three blocks to the beach! Character crafstman. Four legal units in two separate buildings. Front building units are side x side singles w/hardwood floors,separate kitchens. Rear building are two upper/lower 1 bedrooms. Great for owner/user or possible combination. Bedroom in lower 1 unit may be unpermitted. Upside potential on rents. Upper 1 bedroom delivered vacant, if needed.
Type
# Units
BR
BA
Furn(y/n)
Revenue
Unit 1
1
1
1.00
No
$1,900
Unit 2
1
1
1.00
No
$1,174
Unit 3
0
1.00
$1,086
Unit 4
0
1.00
$1,335
AGI: $0
VACANCY: 0
GOI: 65820
OTHER INC:
TOTAL INC:
TOTAL EXP: $0
LP: $1,139,000
DOM: 26
LD: 05/08/2008

OLP: $1,139,000
NOI: $0

RES-INC: 1214 PALMS , VENICE ,CA 90291
MLS#: 08-280309
LP: $1,089,665
AREA: (11)Venice
STATUS: A
POOL: No
MAP: 671/J4
STYLE:
ZONE: LAR1
YB: 1949
#U: 4
APN: 4242-013-022
STO: 0
APX LSZ: 11,136/VN
APX SF: 720/VN
ADP: No
SCHED/ACT: Actual
RENT CNTRL %: 100
PKGT: 4
PKGC: 0
GRM: 20.47
TYPE: Houses
$/SQ FT: 1513.42
$/UNIT:
SEP METERS:
# STUDIOS: 1
# 1 BR: 0
# 2 BR: 2
# 3-4 BR: 1
CAP RATE:
DIRECTIONS: Penmar Avenue to Palms Boulevard
REMARKS: House and Triplex in Venice adjacent to Santa Monica. The Property is Selling "As Is", with no warranties implied or expressed, in it's Present Physical Condition. Seller's have 4 addresses on the property, but property profile shows 3 units. All rents are below market rent. Check with City for any violations. Expenses are estimate. A very good opportunity for an investor/developer or Owner User. Property next door is also for sale, opportunity to assemble adjacent parcels for development.
Type
# Units
BR
BA
Furn(y/n)
Revenue
Unit 1
1
2
1.00
No
$847
Unit 2
1
3
1.00
No
$1,631
Unit 3
1
2
1.00
No
$1,336
Unit 4
1
0
1.00
No
$621
AGI: $53,215
VACANCY: 0
GOI: 53215
OTHER INC:
TOTAL INC:
TOTAL EXP: $15964
LP: $1,089,665
DOM: 22
LD: 05/12/2008

OLP: $1,089,665
NOI: $37,250
Broker/Agent does not guarantee the accuracy of the square footage, lot size 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. Copyright © 2008 by Combined L.A./Westside MLS, Inc. Information deemed reliable but not guaranteed.
p. 1




RES-INC: 1210 PALMS , VENICE ,CA 90291
MLS#: 08-280323
LP: $975,686
AREA: (11)Venice
STATUS: A
POOL: No
MAP: 671/J4
STYLE:
ZONE: LAR1
YB: 1920
#U: 3
APN: 4242-013-023
STO: 1
APX LSZ: 11,136/VN
APX SF: 750/VN
ADP: No
SCHED/ACT: Actual
RENT CNTRL %: 100
PKGT: 6
PKGC: 0
GRM: 18.04
TYPE: Houses
$/SQ FT: 1300.91
$/UNIT:
SEP METERS:
# STUDIOS: 0
# 1 BR: 1
# 2 BR: 2
# 3-4 BR: 0
CAP RATE:
DIRECTIONS: Penmar Avenue to Palms Boulevard
REMARKS: 3 HOUSES IN VENICE ADJACENT TO SANTA MONICA. THE PROPERTY IS SELLING "AS IS", WITH NO WARRANTIES IMPLIED OR EXPRESSED, IN IT'S PRESENT PHYSICAL CONDITION. PROPERTY PROFILE SHOWS 3 UNITS. MOST RENTS ARE BELOW MARKET. CHECK WITH CITY FOR ANY VIOLATIONS. EXPENSES ARE ESTIMATE. A VERY GOOD OPPORTUNITY FOR AN INVESTOR/DEVELOPER OR OWNER USER. PROPERTY NEXT DOOR IS ALSO FOR SALE, OPPORTUNITY TO ASSEMBLE ADJACENT PARCELS FOR DEVELOPMENT.
Type
# Units
BR
BA
Furn(y/n)
Revenue
Unit 1
1
2
1.00
No
$900
Unit 2
1
2
1.00
No
$906
Unit 3
1
1
1.00
No
$1,450
Unit 4
No
$0
AGI: $54,098
VACANCY: 0
GOI: 54098
OTHER INC:
TOTAL INC:
TOTAL EXP: $16229
LP: $975,686
DOM: 22
LD: 05/12/2008

OLP: $975,686
NOI: $37,868

RES-INC: 218 VENICE WAY , VENICE ,CA 90291
MLS#: 08-282551
LP: $1,149,000
AREA: (11)Venice
STATUS: A
POOL: No
MAP: 671/H6
STYLE:
ZONE: LARD1.5
YB: 1953
#U: 2
APN: 4238-021-028
STO: 1
APX LSZ: 2,744/VN
APX SF: 1,448/VN
ADP:
SCHED/ACT: Scheduled
RENT CNTRL %:
PKGT: 3
PKGC: 1
GRM: 0.00
TYPE: Attached
$/SQ FT: 793.51
$/UNIT:
SEP METERS:
# STUDIOS: 0
# 1 BR: 0
# 2 BR: 2
# 3-4 BR: 0
CAP RATE:
DIRECTIONS: West of Lincoln, East of Pacific
REMARKS: Great Owner user or Investor's Duplex. Two 2 Bdrm, 1 Bath apartments with many upgrades including designer remodeled bathrooms and kitchen. Just down the street from Windward Circle & Venice beach. Both units delivered vacant at close of escrow. Scheduled rents $2,500/mo per unit
Type
# Units
BR
BA
Furn(y/n)
Revenue
Unit 1
2
2
1.00
No
$2,500
AGI: $0
VACANCY: 100
GOI: 0
OTHER INC:
TOTAL INC:
TOTAL EXP: $0
LP: $1,149,000
DOM: 12
LD: 05/22/2008

OLP: $1,149,000
NOI: $0

RES-INC: 54 PALOMA AVE , VENICE ,CA 90291
MLS#: 07-239517
LP: $1,575,000
AREA: (11)Venice
STATUS: A
POOL: No
MAP: 671/G5
STYLE:
ZONE: LARD1.5
YB: 1909
#U: 2
APN: 4286-022-028
STO: 1
APX LSZ: 3,528/VN
APX SF:
ADP:
SCHED/ACT: Actual
RENT CNTRL %:
PKGT: 0
PKGC: 0
GRM: 0.00
TYPE: DUPLEX
$/SQ FT:
$/UNIT:
SEP METERS:
# STUDIOS: 0
# 1 BR: 0
# 2 BR: 2
# 3-4 BR: 0
CAP RATE:
DIRECTIONS: WEST OF PACIFIC, SOUTH OF ROSE.
REMARKS: 2 ORIGINAL VENICE COTTAGES ON A GO0D SIZE LOT. COMPLETELY REMODELED THROUGHOUT. MAIN HOUSE IS A 2 BED + LOFT + 2 BATH AND BACK HOUSE IS A 2 BED +1 BATH. PROPERTY CAN BE DELIVERED VACANT.
Type
# Units
BR
BA
Furn(y/n)
Revenue
Unit 1
1
2
2.00
No
$2,800
Unit 2
1
2
1.00
No
$2,000
AGI: $57,600
VACANCY: 0
GOI: 57600
OTHER INC:
TOTAL INC:
TOTAL EXP: $0
LP: $1,575,000
DOM: 185
LD: 12/03/2007

OLP: $1,575,000
NOI: $0
Broker/Agent does not guarantee the accuracy of the square footage, lot size 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. Copyright © 2008 by Combined L.A./Westside MLS, Inc. Information deemed reliable but not guaranteed.

p. 2




RES-INC: 634 MILWOOD AVE , VENICE ,CA 90291
MLS#: 07-240483
LP: $1,250,000
AREA: (11)Venice
STATUS: A
POOL: No
MAP: 671/H5
STYLE:
ZONE: LAR2
YB: 1924
#U: 4
APN: 4241-012-014
STO: 0
APX LSZ: 5,397/AS
APX SF: 1,536/AS
ADP: No
SCHED/ACT: Scheduled
RENT CNTRL %:
PKGT: 0
PKGC: 0
GRM: 0.00
TYPE: Attached
$/SQ FT: 813.80
$/UNIT:
SEP METERS:
# STUDIOS: 0
# 1 BR: 10
# 2 BR: 0
# 3-4 BR: 0
CAP RATE:
DIRECTIONS: Between Westminster Blvd and Venice Blvd, North of Abbot Kinney Blvd
REMARKS: Four attached, 1BR 1BA bungalow units located on 5,397/SF lot. Ideal for development or continue using as an income property. Great location, just off of Abbot Kinney Blvd. Inside with Accepted Offer. No Termite Report. Rents subject to change.
Type
# Units
BR
BA
Furn(y/n)
Revenue
Unit 1
1
1
1.00
No
$550
Unit 2
2
1
1.00
No
$1,000
Unit 3
3
1
1.00
No
$1,000
Unit 4
4
1
1.00
No
$1,000
AGI: $0
VACANCY: 0
GOI: 0
OTHER INC:
TOTAL INC:
TOTAL EXP: $0
LP: $1,250,000
DOM: 181
LD: 12/07/2007

OLP: $1,250,000
NOI: $0

RES-INC: 618 VENEZIA AVE , VENICE ,CA 90291
MLS#: 08-245211
LP: $1,250,000
AREA: (11)Venice
STATUS: A
POOL: No
MAP: 671/J6
STYLE:
ZONE: LAR3
YB: 1912
#U: 3
APN: 4237-004-004
STO: 0
APX LSZ: 5,375/VN
APX SF: 2,591/VN
ADP:
SCHED/ACT: Scheduled
RENT CNTRL %: 66
PKGT: 5
PKGC: 5
GRM: 16.00
TYPE: Residental
$/SQ FT: 482.44
$/UNIT:
SEP METERS:
# STUDIOS: 0
# 1 BR: 1
# 2 BR: 2
# 3-4 BR: 0
CAP RATE:
DIRECTIONS: One Block East of Abbot Kinney just South of Venice Boulevard
REMARKS: NEWLY REMODELED OWNER'S UNIT W/ GRANITE COUNTERS + STAINLESS APPLIANCES + SKYLIGHTS. NEW ROOF. Triplex on large lot, a stone's throw from Abbot Kinney & French Market Café. Front house is a classic 1912 Craftsman duplex w/ a 1 bed 1 bath & a 2 bed 1 bath. Clean & spacious back unit built in 1990 is a 2 bed 2 bath, & exempt from rent control. Ideal for owner occupier or investor. Huge storage room & common laundry room near gated 5 space parking area. 1031 exch. for seller.
Type
# Units
BR
BA
Furn(y/n)
Revenue
Unit 1
1
1
1.00
No
$2,000
Unit 2
1
2
1.00
No
$2,700
Unit 3
1
2
2.00
No
$2,650
AGI: $79,000
VACANCY: 0
GOI: 79000
OTHER INC:
TOTAL INC:
TOTAL EXP: $12237
LP: $1,250,000
DOM: 118
LD: 01/08/2008

OLP: $1,295,000
NOI: $67,600

RES-INC: 44 OZONE AVE , VENICE ,CA 90291
MLS#: 08-247617
LP: $1,449,000
AREA: (11)Venice
STATUS: A
POOL: No
MAP: 671/G5
STYLE:
ZONE: LARD1.5
YB: 1925
#U: 2
APN: 4286-019-019
STO: 0
APX LSZ: 3,571/VN
APX SF: 1,577/VN
ADP: No
SCHED/ACT: Actual
RENT CNTRL %:
PKGT: 2
PKGC: 2
GRM: 0.00
TYPE: Renta
$/SQ FT: 918.83
$/UNIT:
SEP METERS:
# STUDIOS: 0
# 1 BR: 2
# 2 BR: 0
# 3-4 BR: 0
CAP RATE:
DIRECTIONS: South of Navy St., North of Rose Ave., West of Pacific Ave..
REMARKS: Great opportunity to a own duplex on a coveted walk street at the Venice/Santa Monica border 1/2 blk to World Famous Venice Beach. There is flexibility! Lots of potential. Great development site. Hardwood floors, separately metered, 2- 1car garages. Live in one and rent the other or turn back into original single family home. Rents below market.Tenants are month to month.Chance to get in early in appreciating area with lots of new development..
Type
# Units
BR
BA
Furn(y/n)
Revenue
Unit 1
1
1
1.00
No
$1,190
Unit 2
1
1
1.00
No
$1,139
AGI: $27,036
VACANCY: 0.00
GOI: 27036
OTHER INC:
TOTAL INC:
TOTAL EXP: $2800
LP: $1,449,000
DOM: 141
LD: 01/15/2008

OLP: $1,499,000
NOI: $24,236
Broker/Agent does not guarantee the accuracy of the square footage, lot size 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. Copyright © 2008 by Combined L.A./Westside MLS, Inc. Information deemed reliable but not guaranteed.

p. 3




RES-INC: 1907 CANAL ST , VENICE ,CA 90291
MLS#: 08-249705
LP: $2,149,000
AREA: (11)Venice
STATUS: A
POOL: No
MAP: 671/H6
STYLE:
ZONE: LARD1.5
YB: 1986
#U: 3
APN: 4238-022-035
STO: 2
APX LSZ: 3,001/VN
APX SF: 4,445/VN
ADP: No
SCHED/ACT: Actual
RENT CNTRL %: 0
PKGT: 4
PKGC: 4
GRM: 0.00
TYPE: Triplex
$/SQ FT: 483.46
$/UNIT:
SEP METERS:
# STUDIOS: 0
# 1 BR: 1
# 2 BR: 0
# 3-4 BR: 5
CAP RATE:
DIRECTIONS: N of Venice Blvd, half block east of Pacific
REMARKS: No rent control. Modern loft-style duplex on quiet cul-de-sac located 1 block to beach. Bonus 1 br/1ba unit for additional rents. Private garden entry leads to 2 enormous 3br/2ba units w/ fp, huge sleek kit, sep dining area plus breakfast bar, polished concrete floors. Deluxe master suite & sunny windows on all sides. Each unit w/ 2 car garage w/ direct entrance. Panoramic view rooftop deck. Tons of storage. Potential condo conversion opportunity. One of the 3 bedrooms can be delivered vacant!
Type
# Units
BR
BA
Furn(y/n)
Revenue
Unit 1
1
1
1.00
No
$2,200
Unit 2
2
3
2.00
No
$4,200
Unit 3
3
3
2.00
No
$4,200
AGI: $127,200
VACANCY: 0
GOI: 0
OTHER INC:
TOTAL INC:
TOTAL EXP: $0
LP: $2,149,000
DOM: 132
LD: 01/24/2008

OLP: $2,400,000
NOI: $0

RES-INC: 604 VENEZIA AVE , VENICE ,CA 90291
MLS#: 08-263479
LP: $1,195,000
AREA: (11)Venice
STATUS: A
POOL: No
MAP: 671/J6
STYLE:
ZONE: LAR3
YB: 1951
#U: 3
APN: 4237-004-010
STO: 1
APX LSZ: 5,358/AS
APX SF: 2,025/VN
ADP:
SCHED/ACT: Scheduled
RENT CNTRL %:
PKGT: 0
PKGC: 3
GRM: 0.00
TYPE: Triplex
$/SQ FT: 590.12
$/UNIT:
SEP METERS:
# STUDIOS: 0
# 1 BR: 1
# 2 BR: 0
# 3-4 BR: 0
CAP RATE:
DIRECTIONS: E of Abbot Kinney, N. of Washington
REMARKS: SELLER SAYS 'SELL THIS PROPERTY RIGHT NOW. BRING ALL OFFERS!' HE WANTS TO RETIRE NOW! HE WILL CARRY THE TRUST DEED @ 5.5% INTEREST, YOU WRITE THE TERMS. LARGE LOT. R-3 ZONE JUST EAST OF ABBOT KINNEY. 3 SEPERATE GARAGES OFF ALLEY.
Type
# Units
BR
BA
Furn(y/n)
Revenue
Unit 1
1
1
1.00
No
$1,500
Unit 2
1
1.00
No
$0
Unit 3
2
1.00
No
$1,225
AGI: $0
VACANCY: 0
GOI: 0
OTHER INC:
TOTAL INC:
TOTAL EXP: $0
LP: $1,195,000
DOM: 81
LD: 03/14/2008

OLP: $1,295,000
NOI: $0

RES-INC: 751 SUNSET AVE , VENICE ,CA 90291
MLS#: 08-263755
LP: $1,100,000
AREA: (11)Venice
STATUS: A
POOL: No
MAP: 671/H4
STYLE:
ZONE: R3
YB:
#U: 3
APN: 4240-017-069
STO: 2
APX LSZ: 5,800/AS
APX SF: 2,000/OT
ADP: No
SCHED/ACT: Actual
RENT CNTRL %:
PKGT: 6
PKGC: 6
GRM: 0.00
TYPE: MIXED
$/SQ FT: 550.00
$/UNIT:
SEP METERS:
# STUDIOS: 0
# 1 BR: 1
# 2 BR: 2
# 3-4 BR: 0
CAP RATE:
DIRECTIONS: WEST OF LINCOLN
REMARKS: Great location next to beautiful residential properties. Each unit features 2 baths. Back unit is townhouse style, perfect for owner user. Tons of parking in rear of building. Needs TLC. Inside with accepted offer only.
Type
# Units
BR
BA
Furn(y/n)
Revenue
Unit 1
1
2
2.00
No
$2,020
Unit 2
1
2
2.00
No
$1,160
Unit 3
1
1
2.00
No
$1,217
AGI: $0
VACANCY: 0
GOI: 0
OTHER INC:
TOTAL INC:
TOTAL EXP: $0
LP: $1,100,000
DOM: 80
LD: 03/15/2008

OLP: $1,100,000
NOI: $0
Broker/Agent does not guarantee the accuracy of the square footage, lot size 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. Copyright © 2008 by Combined L.A./Westside MLS, Inc. Information deemed reliable but not guaranteed.

p. 4




RES-INC: 816 PACIFIC AVE , VENICE ,CA 90291
MLS#: 08-264241
LP: $1,450,000
AREA: (11)Venice
STATUS: A
POOL: No
MAP: 671/G5
STYLE:
ZONE: LARD1.5
YB: 1969
#U: 2
APN: 4286-014-004
STO: 2
APX LSZ: 2,308/VN
APX SF: 2,400/VN
ADP:
SCHED/ACT: Actual
RENT CNTRL %:
PKGT: 3
PKGC: 3
GRM: 0.00
TYPE: N/A
$/SQ FT: 604.17
$/UNIT:
SEP METERS:
# STUDIOS: 0
# 1 BR: 0
# 2 BR: 2
# 3-4 BR: 0
CAP RATE:
DIRECTIONS: W OF ABBOT KINNEY/N OF BROOKS.
REMARKS: ENJOY SOUTHERN CALIFORNIA'S SUN, SURF AND THE BEACH! THIS IS NOT ONLY A DESTINATION, IT'S A LIFESTYLE! JUST A STONE'S THROW AWAY FROM THE SAND, TRENDY ABBOT KINNEY AND MAIN STREET. GREAT OPPORTUNITY FOR AN OWNER-USER. REMODELED UPPER/LOWER DUPLEX WITH BALCONIES, MODERN KITCHENS, BATHS, HARDWOOD FLOORS, PRIVATE PARKING AND PRIVATE ENTRANCE, INSIDE LAUNDRY. A GATED AND PRIVATE SETTING BY THE BEACH! SELLER MOTIVATED, SUBMIT OFFERS.
Type
# Units
BR
BA
Furn(y/n)
Revenue
Unit 1
1
2
2.00
No
$2,500
Unit 2
1
2
2.00
No
$3,150
AGI: $0
VACANCY: 0
GOI: 0
OTHER INC:
TOTAL INC:
TOTAL EXP: $0
LP: $1,450,000
DOM: 77
LD: 03/18/2008

OLP: $1,450,000
NOI: $0

RES-INC: 2454 PENMAR AVE , VENICE ,CA 90291
MLS#: 08-266223
LP: $3,500,000
AREA: (11)Venice
STATUS: A
POOL: Yes
MAP: 672/A5
STYLE:
ZONE: LARD1.5
YB: 2006
#U: 3
APN: 4236-004-017
STO: 3
APX LSZ: 5,924/AS
APX SF:
ADP:
SCHED/ACT: Actual
RENT CNTRL %:
PKGT: 6
PKGC:
GRM: 0.00
TYPE: 3
$/SQ FT:
$/UNIT:
SEP METERS:
# STUDIOS: 0
# 1 BR: 0
# 2 BR: 106
# 3-4 BR: 56
CAP RATE:
DIRECTIONS: One Block East of Lincoln, BTW Venice & Washington
REMARKS: Ultra-Modern One-of-a-kind Triplex Compound. TH duplex each w/2+2.5, & renovated 2+2 SFR. Superior architectural elements: soaring ceilings, polished concrete, palm hardwood, bamboo paneled ceiling, custom walnut cabinetry. Open floor-plan w/Granite/stainless kitchen, breakfast bar, living/ dining bathed w/light. Office w/built-ins. Luxe baths w/mosaic tile details. Owners unit w/private patio, spa, & bonus studio+bath. Huge rooftop deck w/bbq & panoramic views. Salt water pool. Lush grounds.
Type
# Units
BR
BA
Furn(y/n)
Revenue
Unit 1
52
2
2.50
No
$5,900
Unit 2
56
3
3.50
No
$0
Unit 3
54
2
2.00
No
$3,500
AGI: $0
VACANCY: 0
GOI: 0
OTHER INC:
TOTAL INC:
TOTAL EXP: $0
LP: $3,500,000
DOM: 69
LD: 03/26/2008

OLP: $3,500,000
NOI: $0

RES-INC: 749 VERNON AVE , VENICE ,CA 90291
MLS#: 08-267873
LP: $1,279,000
AREA: (11)Venice
STATUS: A
POOL: No
MAP: 671/H4
STYLE:
ZONE: LARD1.5
YB: 1948
#U: 4
APN: 4240-016-065
STO: 2
APX LSZ: 4,800/AS
APX SF:
ADP: No
SCHED/ACT: Actual
RENT CNTRL %:
PKGT: 5
PKGC: 3
GRM: 21.76
TYPE: Studio
$/SQ FT:
$/UNIT:
SEP METERS:
# STUDIOS: 0
# 1 BR: 4
# 2 BR: 0
# 3-4 BR: 0
CAP RATE:
DIRECTIONS: W/LINCOLN, S/ROSE, N/CALIFORNIA, E/7th
REMARKS: Terrific Venice location, Bread and butter income units. 1940's Traditional style. Huge upside potential on rents. Loads of parking. A great property you don't want to miss. Legally 3 units. 1 non conforming unit. Originally SFR w/2nd story, 2 unit addition 11/13/1986. Garage is rented for $450. per month.
Type
# Units
BR
BA
Furn(y/n)
Revenue
Unit 1
1
1
1.00
No
$1,350
Unit 2
1
1
1.00
No
$1,123
Unit 3
1
1
1.00
No
$1,034
Unit 4
1
1
1.00
No
$940
Unit 5
$450
AGI: $58,764
VACANCY: 0
GOI: 58764
OTHER INC:
TOTAL INC:
TOTAL EXP: $0
LP: $1,279,000
DOM: 64
LD: 03/31/2008

OLP: $1,279,000
NOI: $0
Broker/Agent does not guarantee the accuracy of the square footage, lot size 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. Copyright © 2008 by Combined L.A./Westside MLS, Inc. Information deemed reliable but not guaranteed.

p. 5




RES-INC: 2416 ABBOT KINNEY , VENICE ,CA 90291
MLS#: 08-270275
LP: $2,475,000
AREA: (11)Venice
STATUS: A
POOL: No
MAP: 671/J6
STYLE:
ZONE: LAR3
YB: 2007
#U: 2
APN: 4237-012-022
STO: 3
APX LSZ: 4,225/AS
APX SF: 4,000/OW
ADP:
SCHED/ACT: Actual
RENT CNTRL %:
PKGT: 4
PKGC: 4
GRM: 0.00
TYPE: duplex
$/SQ FT: 618.75
$/UNIT:
SEP METERS:
# STUDIOS: 0
# 1 BR: 1
# 2 BR: 0
# 3-4 BR: 1
CAP RATE:
DIRECTIONS: Abbot Kinney south of Venice Blvd.
REMARKS: Bill Tsui, Architect. Schutz Group, Design + Build, 2007. Legal duplex on Abbot Kinney. Main house of 3 bedrooms, 3.5 baths, office/gym and roof deck, gourmet kitchen, teak floors, Crestron home automation, security, central vac. Detached legal rental of 1 bedroom, 1.5 bath. Two 2-car garages. Each unit w/ own laundry room. Great live + work opportunity (use rear unit as studio / office). Possible condo tract. Close to beach, shops & restaurants.
Type
# Units
BR
BA
Furn(y/n)
Revenue
Unit 1
1
1
1.50
No
$3,500
Unit 2
1
3
3.50
No
$0
AGI: $0
VACANCY: 0%
GOI: 0
OTHER INC:
TOTAL INC:
TOTAL EXP: $0
LP: $2,475,000
DOM: 56
LD: 04/08/2008

OLP: $2,475,000
NOI: $0

RES-INC: 304 S VENICE , VENICE ,CA 90291
MLS#: 08-270509
LP: $1,839,000
AREA: (11)Venice
STATUS: A
POOL: No
MAP: 671/H6
STYLE:
ZONE: LAR3
YB: 2008
#U: 2
APN: 4227-003-008
STO: 0
APX LSZ: 3,005/AS
APX SF: 2,300/OW
ADP:
SCHED/ACT: Scheduled
RENT CNTRL %:
PKGT: 6
PKGC: 4
GRM: 0.00
TYPE: duplex
$/SQ FT: 799.57
$/UNIT:
SEP METERS:
# STUDIOS: 0
# 1 BR: 0
# 2 BR: 2
# 3-4 BR: 1
CAP RATE:
DIRECTIONS: West of Abbot Kinney, East of Pacific Ave.
REMARKS: High End 2008 NEW DUPLEX. VACANT! In Golden Triangle, Venice. Steps to canal & walk to beach. -UPPER LEVEL: Stunning 3+2 unit w/exotic pilang wood floors throughout. Gourmet kitch w/Viking applncs, master cntr island w/CeasarStone. Stylish baths w/European glass tile. Large entertainers roof deck. Wired for sound,comp,cbl,sat +4 Ph lines. -LOWER LEVEL: Functional 2+1 unit w/great room, stnlss steel kitch applncs & wood floors. Excellent for: rental, home office, in-law. .....No Rent Control!!!
Type
# Units
BR
BA
Furn(y/n)
Revenue
Unit 1
1
3
2.00
No
$0
Unit 2
2
2
1.00
No
$0
AGI: $0
VACANCY: 0
GOI: 0
OTHER INC:
TOTAL INC:
TOTAL EXP: $0
LP: $1,839,000
DOM: 55
LD: 04/09/2008

OLP: $1,839,000
NOI: $0

RES-INC: 730 SUPERBA AVE , VENICE ,CA 90291
MLS#: 08-271131
LP: $1,499,000
AREA: (11)Venice
STATUS: A
POOL: No
MAP: 671/J5
STYLE:
ZONE: LAR2
YB: 1940
#U: 2
APN: 4241-021-007
STO: 2
APX LSZ: 3,600/AS
APX SF:
ADP:
SCHED/ACT: Actual
RENT CNTRL %:
PKGT: 5
PKGC: 3
GRM: 0.00
TYPE: Duplex
$/SQ FT:
$/UNIT:
SEP METERS:
# STUDIOS: 0
# 1 BR: 1
# 2 BR: 1
# 3-4 BR: 0
CAP RATE:
DIRECTIONS: West of Lincoln, North of Venice Blvd.
REMARKS: Artsy classic duplex in the garden spot of Venice! Charming front house is 2 BD + 1 BA, back 1 BD + 1 BA is above the garage w/ separate living & dining rooms. Both feature coved ceilings, period details, original hardwood floors, antique stoves & washer/dryers. The yard is beautifully landscaped. There is a 3 car garage w/ individual garage spaces. Property to be delivered completely vacant! Amazing location a few houses from the Shell Circle, close to Abbot Kinney shops and restaurants.
Type
# Units
BR
BA
Furn(y/n)
Revenue
Unit 1
1
2
1.00
No
$0
Unit 2
1
1
1.00
No
$0
AGI: $0
VACANCY: 100
GOI: 0
OTHER INC:
TOTAL INC:
TOTAL EXP: $0
LP: $1,499,000
DOM: 53
LD: 04/11/2008

OLP: $1,499,000
NOI: $0
Broker/Agent does not guarantee the accuracy of the square footage, lot size 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. Copyright © 2008 by Combined L.A./Westside MLS, Inc. Information deemed reliable but not guaranteed.

p. 6




RES-INC: 603 INDIANA AVE , VENICE ,CA 90291
MLS#: 08-271295
LP: $1,250,000
AREA: (11)Venice
STATUS: A
POOL: No
MAP: 671/H5
STYLE:
ZONE: LARD1.5
YB: 1953
#U: 2
APN: 4239-003-006
STO: 2
APX LSZ: 3,179/AS
APX SF: 1,560/VN
ADP:
SCHED/ACT: Actual
RENT CNTRL %:
PKGT: 3
PKGC:
GRM: 19.00
TYPE: Apartments
$/SQ FT: 801.28
$/UNIT:
SEP METERS:
# STUDIOS: 0
# 1 BR: 2
# 2 BR: 1
# 3-4 BR: 0
CAP RATE:
DIRECTIONS: WEST OF LINCOLN, East of Abbot Kinney, North of Venice, South of Rose (between 6th & 7th).
REMARKS: Duplex with plans and permits for Triplex currently in process of renovation on up and coming street close to Abbot Kinney and only 6 blocks from the beach! Perfect for investor who wants rental income or developer who wants to build (Zoned LARD 1.5). 5,040 sq. ft. lot next door is also for sale- buy both and build your dream home!
Type
# Units
BR
BA
Furn(y/n)
Revenue
Unit 1
1
2
1.00
No
$2,500
Unit 2
1
1
1.00
No
$1,475
Unit 3
1
1
1.00
No
$1,475
AGI: $65,400
VACANCY: 100%
GOI: 5450
OTHER INC:
TOTAL INC:
TOTAL EXP: $0
LP: $1,250,000
DOM: 53
LD: 04/11/2008

OLP: $1,250,000
NOI: $0

RES-INC: 819 ANGELUS PL , VENICE ,CA 90291
MLS#: 08-271757
LP: $1,449,000
AREA: (11)Venice
STATUS: A
POOL: No
MAP: 672/A6
STYLE:
ZONE: LAR2
YB: 1940
#U: 2
APN: 4237-015-010
STO: 1
APX LSZ: 4,800/AS
APX SF: 2,206/AS
ADP:
SCHED/ACT: Actual
RENT CNTRL %: 100
PKGT: 4
PKGC: 2
GRM: 0.00
TYPE: n/a
$/SQ FT: 656.84
$/UNIT:
SEP METERS:
# STUDIOS: 0
# 1 BR: 0
# 2 BR: 3
# 3-4 BR: 0
CAP RATE:
DIRECTIONS: East of Abbot Kinney, North of Washington
REMARKS: Totally remodeled in and out in '06, and rented with great tenants! Stacked flats, each approx 1100 sqft. Lower - new kitchen and bath, refinished gleaming Oak floors, 2 big bedrooms with expansive closets. Unit also gets 2-car garage which was converted to work shed/storage. Upper - absolutely drenched in sunlight with tree-tops views across to Marina del Rey. 2 huge bedrms with wall-length closets, enormous living rm, balcony. 2 covered car-port spaces in rear. Front yard and rear patio. A+
Type
# Units
BR
BA
Furn(y/n)
Revenue
Unit 1
1
2
1.00
No
$2,875
Unit 2
2
2
1.00
No
$2,750
AGI: $67,500
VACANCY: 0
GOI: 0
OTHER INC:
TOTAL INC:
TOTAL EXP: $0
LP: $1,449,000
DOM: 50
LD: 04/14/2008

OLP: $1,449,000
NOI: $0

RES-INC: 2916 PACIFIC AVE , VENICE ,CA 90291
MLS#: 08-259879
LP: $1,549,000
AREA: (11)Venice
STATUS: A
POOL: No
MAP: 671/H7
STYLE:
ZONE: LARD1.5
YB: 1978
#U: 2
APN: 4227-018-005
STO: 2
APX LSZ: 2,850/AS
APX SF: 2,452/OW
ADP:
SCHED/ACT: Actual
RENT CNTRL %: 100
PKGT: 4
PKGC: 4
GRM: 0.00
TYPE: Duplex
$/SQ FT: 631.73
$/UNIT:
SEP METERS:
# STUDIOS: 0
# 1 BR: 0
# 2 BR: 1
# 3-4 BR: 1
CAP RATE:
DIRECTIONS: North of Washington Blvd., South of Venice Blvd., 1 block from the Beach just West of Venice Canals.
REMARKS: Perfect OWNER-USER-Duplex ONE BLOCK AWAY FROM VENICE BEACH & directly across from the world famous Venice Canals. Completely remodeled duplex with travertine bathrooms, hardwood floors, Grohe fixtures, Anderson windows, smoked-glass interior and exterior doors, solid oak kitchen cabinets, stainless steel appliances, custom glass-tile back splashes, granite counter tops, 4 car parking! 3 bdrm unit rents mo to mo for $4,200/mo. 2 bdrm rents for $3,000 per month.
Type
# Units
BR
BA
Furn(y/n)
Revenue
Unit 1
1
3
3.00
No
$4,200
Unit 2
1
2
2.00
No
$3,100
AGI: $0
VACANCY: 50
GOI: 3000
OTHER INC:
TOTAL INC:
TOTAL EXP: $0
LP: $1,549,000
DOM: 92
LD: 03/04/2008

OLP: $1,700,000
NOI: $0
Broker/Agent does not guarantee the accuracy of the square footage, lot size 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. Copyright © 2008 by Combined L.A./Westside MLS, Inc. Information deemed reliable but not guaranteed.

p. 7




RES-INC: 2417 WALNUT AVE , VENICE ,CA 90291
MLS#: 08-262177
LP: $1,175,000
AREA: (11)Venice
STATUS: A
POOL: No
MAP: 672/A5
STYLE:
ZONE: LAR2
YB: 1923
#U: 2
APN: 4236-005-002
STO: 1
APX LSZ: 5,850/AS
APX SF:
ADP:
SCHED/ACT: Scheduled
RENT CNTRL %:
PKGT: 4
PKGC:
GRM: 0.00
TYPE: SFR
$/SQ FT:
$/UNIT:
SEP METERS:
# STUDIOS: 0
# 1 BR: 0
# 2 BR: 0
# 3-4 BR: 0
CAP RATE:
DIRECTIONS: Walnut Ave. off Venice, between the high school and Lincoln Blvd.
REMARKS: Excellent rental income and charming owner/user. Rare, both homes 3BR's 2BA's. Walking distance to marina and A/K Blvd, quiet area of mostly family oriented homes. Vintage (Built 1924), Spanish charmer front house, beautiful floor to ceiling windows in living room and front, family/3rd BR, built in hutch in dining room, fire place in living room. Gated, trellis covered parking for 3-4 cars and private terra cotta patio off master. Rear home shows like a private mountain cabin.
Type
# Units
BR
BA
Furn(y/n)
Revenue
Unit 1
2
6
4.00
No
$1,000
AGI: $0
VACANCY: 5%
GOI: 0
OTHER INC:
TOTAL INC:
TOTAL EXP: $0
LP: $1,175,000
DOM: 85
LD: 03/10/2008

OLP: $1,175,000
NOI: $0

RES-INC: 712 VERNON AVE , VENICE ,CA 90291
MLS#: 08-277993
LP: $1,250,000
AREA: (11)Venice
STATUS: A
POOL: No
MAP: 671/H5
STYLE:
ZONE: LARD1.5
YB: 1927
#U: 3
APN: 4239-004-003
STO: 1
APX LSZ: 5,401/VN
APX SF: 1,512/OT
ADP: No
SCHED/ACT: Actual
RENT CNTRL %: 100
PKGT: 5
PKGC: 0
GRM: 21.00
TYPE: 2x1+(2)1x1
$/SQ FT: 826.72
$/UNIT:
SEP METERS:
# STUDIOS: 0
# 1 BR: 1430
# 2 BR: 712
# 3-4 BR: 0
CAP RATE:
DIRECTIONS: South of Rose and West of Lincoln
REMARKS: This is a Triplex consisting of 2 houses. One house has 2 bedroom 1 bath and the other house has two 1 bedroom 1 bath.There are 3 separate entrances.Tenant are on a month to month rent; Tenants pay for all utilities except for water which is paid by owner.Very quit street. Intersection is Lincoln Blvd and Indiana. This is a great opportunity for an owner occupying one unit and renting the other two.Seller is motivated to sell. May carry a 2nd Mortgage.
Type
# Units
BR
BA
Furn(y/n)
Revenue
Unit 1
712
2
2.00
No
$2,378
Unit 2
714
1
1.00
No
$1,338
Unit 3
716
1
1.00
No
$1,150
AGI: $4,850
VACANCY: 0
GOI: 4850
OTHER INC:
TOTAL INC:
TOTAL EXP: $1450
LP: $1,250,000
DOM: 62
LD: 04/02/2008

OLP: $125,000
NOI: $3,400

RES-INC: 257 WINDWARD AVE , VENICE ,CA 90291
MLS#: 08-278675
LP: $1,225,000
AREA: (11)Venice
STATUS: A
POOL: No
MAP: 671/H6
STYLE:
ZONE: LARD1.5
YB: 1911
#U: 3
APN: 4238-013-020
STO: 0
APX LSZ: 2,831/AS
APX SF: 1,662/AS
ADP:
SCHED/ACT: Actual
RENT CNTRL %:
PKGT: 2
PKGC: 0
GRM: 0.00
TYPE: home w/units
$/SQ FT: 737.06
$/UNIT:
SEP METERS:
# STUDIOS: 2
# 1 BR: 0
# 2 BR: 1
# 3-4 BR: 0
CAP RATE:
DIRECTIONS: West of Abbot Kinney Blvd., South of Rose Ave, East of Main St.& Pacific Ave.
REMARKS: Original 2 bedroom 1 bath Craftsman home with 2 rental units (studios with lofts) only 3 blocks from the beach! House and one studio will be delivered vacant. Beautiful Douglas Fir floors, original built-ins, stained glass, fireplace, large porch & quaint front yard for enjoying beach living, new paint & large attic. 2 car tandem parking. Perfect for extended family or additional rental income. Or, front house is being offered for $825,000. as T.I.C.
Type
# Units
BR
BA
Furn(y/n)
Revenue
Unit 1
1
2
1.00
No
$0
Unit 2
1
0
1.00
$0
Unit 3
1
0
1.00
$800
AGI: $0
VACANCY: 66.6
GOI: 0
OTHER INC:
TOTAL INC:
TOTAL EXP: $0
LP: $1,225,000
DOM: 27
LD: 05/07/2008

OLP: $1,225,000
NOI: $0
Broker/Agent does not guarantee the accuracy of the square footage, lot size 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. Copyright © 2008 by Combined L.A./Westside MLS, Inc. Information deemed reliable but not guaranteed.

p. 8