724 EL DORADO DRIVE
About This Property
Set at the end of a quiet cul-de-sac on Venice Island, this 2 bed, 2 bath single-family home built in 1966 offers 1,446 sq ft on a 0.28-acre waterfront lot. The canal leads directly into Roberts Bay with open water views and out toward the Gulf with no bridges, creating a true boater's dream for quick access. The property includes a private dock with two boat lifts, including a 20,000-pound lift plus a 7,000-pound lift, and a walkway from the patio to the dock for easy gear-to-boat access. Additional exterior features include a pavered driveway, back patio, and waterfront walkway. Inside, hurricane flooding impacted the home with remediation done and the rehabilitation process has begun, with drywall and damaged finishes removed, offering a blank-slate interior ready for your contractor and vision. Additional features include a 2-car garage, newer shingle roof, and ceramic tile flooring. Conveniently positioned approximately 0.5 miles to Venice Beach and 1.0 mile to Historic Downtown Venice, with easy access to dining, shopping, cultural venues, parks, golf courses, and the Legacy Trail.
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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%.
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.
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017