$5,500,000 Price Analysis   ♡   Venice, CA 90291 0 bed 8 bath 6,587 SqFt ($834/SqFt) 6,438SqFt lot. Built 1962 Listed 2024-01-11 | Ⓧ USDA Ineligible due to price & location near Los Angeles |
Welcome to Main and Market
Situated in the heart and soul of Venice! This 7-unit mixed-use income property offers immense flexibility with office, commercial and residential use. Take advantage of future development and tons of upside potential on an expansive lot. Perfect for your 1031 exchange Buyer, your real estate portfolio or passive income - park your cash for a 5.7% CAP! This one-of-a-kind building offers a unique combination of residential and commrcial spaces. Each unit has been thoughtfully designed to cater to various needs, from music production studios and film production spaces to designer creative studios and charming residential apartments. With pretty built-ins and renovations done over time, this building comes with long-standing and well-established tenancy - you can step in and start reaping the benefits of rental income right away. One of the upstairs units features a vast outdoor terrace with a built-in kitchen and BBQ area. This expansive outdoor space adds an extra touch of luxury and versatility to the property. The property also boasts ample parking, providing 13 parking spaces!
Situated seconds away from the beach, Windward Circle and in the midst of the vibrant crea tive hub of Venice, this location is everything! Whether it's the allure of the beach, the energetic atmosphere of the neighborhood or the thriving creative community, this property offers an unbeatable location. Bring your developers, investors or owners/users!
Presented by Tami Pardee at
Pardee Properties.
Property MLS #24-346019 from TheMLSCLAW
Full Bathrooms: 8
Flooring: Cement, Carpet, Engineered Hardwood
Heating Features: Central
Lot Size Acres: 0.1477961
Lot Size Source: Vendor Enhanced
Lot Size Square Feet: 6438
Parking Total: 13
Other Equipment: Built-Ins, Garbage Disposal, Range/Oven, Refrigerator
Calculated Total Monthly Association Fees: 0
Number of Units: 7
Unit Features: 1 BathsTotal: 1, 1 SquareFeet: 12500, 2 BathsTotal: 1, 2 SquareFeet: 4132, 3 BathsTotal: 1, 3 SquareFeet: 12000, 4 BedsTotal: 1, 4 BathsTotal: 1, 4 SquareFeet: 2157, 5 BedsTotal: 1, 5 BathsTotal: 1, 5 SquareFeet: 2000, 6 BathsTotal: 1, 6 SquareFeet: 2300, 7 BedsTotal: 1, 7 BathsTotal: 1, 7 SquareFeet: 3500
Map directions Map directions Map directions Map directions Map directionsSource Listing Status: Active
County: Los Angeles
Cap Rate: 5.7
Directions: East of Pacific Ave, West of Abbot Kinney, North of Venice Blvd -- on the corner of Main Street + Market Street!
Source Property Type: Residential Income
Area: Venice
Source Neighborhood: Venice
Owner Pays: Water, Gardener
Parcel Number: 4238-012-006
Postal Code Plus 4: 3783
Property Location: Alley Access, Corner Lot
Zoning: LAC2
Source System Name: C2C
$5,500,000
TheMLSCLAW
Listing removed 2024-01-07
$0
TheMLSCLAW
Price Changed 2023-09-11
$5,500,000
TheMLSCLAW
Price Changed 2023-08-02
$5,850,000
TheMLSCLAW
Listed 2023-06-13
$6,450,000
TheMLSCLAW
Year Built: 1962
Common Walls: Detached/No Common Walls
Entry Location: Ground Level w/steps
Levels: Multi Levels
Property Age: 62
Levels or Stories: 2
Building Total Stories: 2
Structure Type: Detached
House Style: Traditional
Year Built Source: Vendor Enhanced
Architectural Style: Traditional
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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.