Property listed by Christie's International Real Estate SoCal, Timothy Di Prizito 424-249-7162
$1,799,000
Attention Venice and Abbot Kinney lovers/business owners. Incredible investment and income-producing live/work bungalow with immediate income over apx. 4.% cap rate, with a one year remaining tenant. Possible for immediate occupancy with cash-for-keys on the iconic Abbot Kinney Blvd, where modern luxury meets coastal charm. Currently a 2-bedroom, 2-bathroom gem… Read More offers 1,283 sqft of meticulously upgraded living space. Every inch of this home was reimagined in 2023, featuring a brand-new kitchen, completely renovated bathrooms, an additional bathroom, new landscaping, exterior enhancements, updated electrical and plumbing systems, a new HVAC, and anew roof. The inviting interior boasts a stylish decorative fireplace, providing a cozy focal point for the living area. Outside, the property includes not only a backyard but also a 60 ft front yard and three private, coveted parking spaces. Also ideal for future developers, this property includes formally approved RTI plans for an impressive modern 3-story duplex or triplex live/work potential. The design build promises 6,470 sqft of luxury living, with 5 bedrooms, 6.5 bathrooms, and an attached 1,200 sqft ADU. The ADU plan features 1 bedroom, 2 bathrooms, an office, and its own separate address. Situated close to Abbot Kinney's shops and renowned restaurants, this property offers diversity to own, live/work, or develop a multi-family residence in the center of Venice's vibrant lifestyle. Don't miss out on this exceptional property! The property is tenant-occupied until 3/1/27 at market rent, and could be open to cash for keys. Read Less
Listing Snapshot
Days Online
27
Last Updated
Beds
2
Square Ft.
1,283
Lot Size
0.11 Acres
Year Built
1914
MLS Number
26642201
Additional Details
Appliances & Equipment
Dishwasher, Disposal, Dryer
Building
Built in 1914, Living area: 1283.0, 1 building, 1 storey, Levels: One
Cooling
CentralAir
Disclosures
CoastalCommissionRestrictions
Heating
Central
Income
Gross Income: $106,080, Net Operating Income: $78,491
Lot
0.1054 acres
Parking
Driveway, None, OffSite
Taxes
Parcel Number: 4237020030, Zoning: LAR3
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Based on information from California Regional Multiple Listing Service, Inc. as of and/or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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