$1,488,000 Price Analysis   ♡   Venice, CA 90291 3 bed 2 bath 1,598 SqFt ($931/SqFt) 4,802SqFt lot. Built 1922 Listed 2024-05-20, Taxes $4,220 | Ⓧ USDA Ineligible due to price & location near Los Angeles |
Step into your next lucrative investment an enchanting duplex that perfectly captures the essence of Venice living.
Priced to sell with a 4% cap rate, this property offers infinite opportunities for investors and owner-users. Situated on a prime lot west of Lincoln, this duplex features two storybook cottages, each exuding unmatched charm and character. Located within walking distance to the trendy Main Street, Rose Avenue and the vibrant Abbot Kinney Boulevard and a short stroll to the beach, these cottages offer unparalleled access to Venice's best dining, shopping and coastal experiences. The front cottage is a two-bedroom, one-bath haven combining classic charm and modern comfort. This space feels cozy and inviting with its dramatic vaulted ceilings, dark wooden beams bathed in natural light from elegant white shutters and a skylight, which pours in a perfect luminosity blend. Speckled granite countertops meet antique white cabinetry, featuring glass and mesh-screened doors, creating a functional and aesthetically pleasing space. Hardwood floors, ample closet space and thoughtful storage solutions make this cottage a dram home or a high-demand rental. The rear cottage is a cozy one-bedroom, one-bath retreat nestled in lush greenery that provides a peaceful and private setting.
Inside, the living and dining areas feature white wainscoted ceilings and walls, complemented by built-in cabinetry, radiating classic elegance and warmth. The kitchen, with its sleek quartz countertop and all essential appliances, ensures convenience and style. A versatile back garage adds extra value with laundry facilities and space perfect for a study or personal retreat. The verdant garden oasis, adorned with lush foliage and vibrant flowers, offers tranquil seating areas for relaxation or intimate gatherings. This property is not a home, it's an opportunity. Whether you choose to owner-occupy one of the units and offset your mortgage by collecting rent from the second unit or leverage it as an investment for your 1031 exchange, the potential for value appreciation is immense. Venice is an eclectic town that attracts a diverse crowd; everyone feels part of the community. This essence of inclusivity and vibrancy will strengthen with time, making this property a wise investment for the future. The possibilities are endless consider converting the garage for additional income, expanding the existing units or simply enjoying the lush backyard as your oasis. With independent electric and gas meters for each unit, managing this property is simple and efficient. Whether you want to expand your investment portfolio or seek a unique living opportunity, this duplex delivers on all fronts. Its location in one of the most coveted neighborhoods in Venice ensures a steady stream of potential tenants and an irresistible lifestyle for residents. Act quickly properties like this are rare in such a desirable location. Secure this gem today and start reaping the rewards of Venice's vibrant rental market.
Presented by Rinde Philippe at
Berkshire Hathaway HomeServices.
Property MLS #24-393417 from TheMLSCLAW
Full Bathrooms: 2
Laundry Features: In Unit
Garage Description: Driveway, Garage Is Detached
Parking Total: 3
Covered Parking: Yes
Lot Size Source: Vendor Enhanced
Lot Size Square Feet: 4802
Calculated Total Monthly Association Fees: 0
Number of Units: 2
Unit Features: 1 BedsTotal: 2, 1 BathsTotal: 1, 1 SquareFeet: 4500, 2 BedsTotal: 1, 2 BathsTotal: 1, 2 SquareFeet: 3500
County: Los Angeles
Cap Rate: 3.8
Directions: West of Lincoln Blvd Between 7th Ave and Sunset Avenue
Source Property Type: Residential Income
Area: Venice
Source Neighborhood: Venice
Parcel Number: 4240-016-034
Postal Code Plus 4: 2735
Zoning: LARD1.5
Source System Name: C2C
| Year | Assessments Building + Land Total | Tax |
|---|---|---|
| 2022 | $124,534 + $213,978 $338,512 | $4,220 |
| 2021 | $122,093 + $209,783 $331,876 | $4,159 |
| 2020 | $120,842 + $207,632 $328,474 | $4,199 |
| 2019 | $118,473 + $203,561 $322,034 | $4,039 |
| 2018 | $116,150 + $199,570 $315,720 | $3,990 |
| 2017 | $113,873 + $195,657 $309,530 | $3,907 |
| 2016 | $111,641 + $191,821 $303,462 | $3,807 |
| 2015 | $109,965 + $188,940 $298,905 | $3,753 |
| 2014 | $107,811 + $185,239 $293,050 | $3,779 |
| 2013 | $107,324 + $184,402 $291,726 | $3,773 |
| 2012 | $105,220 + $180,787 $286,007 | $3,823 |
| 2010 | $103,157 + $177,243 $280,400 | $3,752 |
| 2009 | $102,631 + $176,337 $278,968 | $3,612 |
| 2009 | $102,387 + $175,919 $278,306 | $3,612 |
| 2008 | $100,619 + $172,880 $273,499 | $3,462 |
| 2007 | $98,647 + $169,491 $268,138 | $3,347 |
$1,488,000
TheMLSCLAW
Price Changed 2024-06-26
$1,598,000
TheMLSCLAW
Price Changed 2024-06-13
$1,675,000
TheMLSCLAW
Listed 2024-05-20
$1,725,000
TheMLSCLAW
Sold 1985-11-06
$90,000
Public Record
Year Built: 1922
Levels: One Level
Living Area Source: Vendor Enhanced
Property Age: 102
Year Built Source: Vendor Enhanced
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The property loan eligibility may be subject to additional requirements beyond geographical location including but not limited to the condition of the property. Speak with a real estate professional to find out more about the eligibility of a specific property.