$4,250,000
●
House -
Off Market
1227 PRESTON Way
Venice, CA 90291
5 Beds
5 Baths
5,700 Ft²
$6,740,961
RealtyHop Estimate
49.80%
Since May 1, 2018
CA-Los Angeles
Primary Model
About This Property
Brand new modern-architectural property designed by Mario Romano
with Venice flair. Artwork meets home with ultra-modern finishes,
inspired by a natural blend that exudes style and class. This
property boasts 5,700 sqft on a 10,000+ sqft lot in a prime
location. Creative space with an open floor plan features 5 beds, 5
baths, upstairs family room, kitchen, dining room, office and
plenty of space for entertaining with outdoor theatre, fireplace,
pool & spa in the backyard. Seamless finishes throughout and custom
design create a pristine trophy property.
Unit Size
5,700 Ft²
Days on Market
171 days
Land Size
0.25 acres
Price per sqft
$789
Property Type
House
Property Taxes
-
HOA Dues
-
Year Built
2016
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Cap Rate
100% Occupancy
N/A (extreme outlier) What does this mean?
Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.
How much can I actually make?
Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.
How is cap rate calculated?
Cap Rate = Net Operating Income (NOI) / Property Asset Value.
When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.
Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.
Last updated: 4 months ago (CLAW #17282010)
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Apr 12, 2018 | Sold | ||
| Sold | |||
| Oct 23, 2017 | Listed by Douglas Elliman of California, Inc. | $4,500,000 | |
| Listed by Douglas Elliman of California, Inc. | |||
| Jul 13, 2017 | Listed | $4,975,000 | |
| Listed | |||
| | |||
|
Designed with inspiring Venice flair & sensible influences from nature, renowned designer-builder Mario Romano brings you this stunning residence perfectly blending a sense of home with a touch of art. On one of the best streets in Venice, this oversized 10,800+ sqft lot provides ample space to live, create, play, and relax. Tucked behind 5 sensational palm trees glowing with original 1930's glory, this 5,700sqft home is refined w/ 5 bedrooms plus a formal office or 6th bedroom, a grand traditional dining room, an expansive great room, covered outdoor cinema room w/ fireplace, upstairs family room & a dreamy backyard w/ a heated pool & spa. Lined with breathtaking woods, custom designed walls & floors, & an exceptional attention to detail, this rare & moving design has been revered as simply iconic. Smart home centric, energy efficient, moments to Rose Ave, Abbot Kinney & the coast, this incredible Venice residence offers the finest touch of modern day beach living. The manager has listed the unit size as 5700 square feet.
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Property Highlights
Garage
Air Conditioning
Fireplace
Building Info
Data used for valuation calculations is provided by RealtyHop, and other third party sources
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About West Los Angeles
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Listed by: Joshua Altman, Douglas Elliman of California, Inc.
Last Updated: 4 months ago
Data Source: CRMLS, MLS# 17282010
Last Updated: 4 months ago
Data Source: CRMLS, MLS# 17282010
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