16
Map
5909 Philip Avenue
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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%.
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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.
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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.
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Dec 11, 2025 | Listed by Coldwell Banker Realty | $5,995,000 | |
| Listed by Coldwell Banker Realty | |||
| Oct 21, 2025 | Price Decreased |
$5,995,000
↓ $1M
(14.3%) | |
| Price Decreased | |||
| May 29, 2025 | Listed | $6,995,000 | |
| Listed | |||
| | |||
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**Permits Approved Ready to Build Immediately** Seize a rare opportunity to create your dream estate on over 2 private acres in one of Malibu's most coveted locations. Ideally situated just above Morning View Drive and moments from the beach, this premier property offers more than an acre of flat, fully graded land with sweeping 180-degree ocean views.With city permits and thoughtfully designed architectural plans already approved, construction can begin immediately. The envisioned residence features a majority of its living space on the main level, including a grand primary suite, three additional ensuite bedrooms, a formal entry, an expansive great room, a spacious family room, and an open-concept kitchen with a dedicated dining area.The lower level is designed for elevated entertaining, complete with a state-of-the-art screening room and an elegant bar/lounge. A private guest suite with its own balcony occupies the upper level, offering a secluded retreat.Enhancing the estate's appeal is a full-size tennis court in excellent condition an increasingly rare amenity in Malibu. This is an extraordinary chance to build a custom coastal compound with panoramic views and luxury lifestyle potential, all in a prime location.
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| Mar 1, 2024 | No longer available | - | |
| No longer available | |||
| Feb 23, 2024 | No longer available | - | |
| No longer available | |||
Property Highlights
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About Western Malibu
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$8,500 /mo
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017