Property listed by Nelson Shelton & Associates, Steven Kay 310-271-2229
$4,999,888
Massive Price Reduction REO Lender-Owned Premier 5-Unit Trophy Asset on the Venice Canals.… Read More Rare opportunity to acquire a lender-owned luxury multi-unit property situated on an expansive, private corner lot along the iconic Venice Canals. Now offered with a massive price reduction, this exceptional coastal asset presents a compelling opportunity for investors, owner-users, and value-add buyers seeking a trophy property in one of Venice's most desirable waterfront locations.This substantially rebuilt newer-construction asset, built with high-quality materials and thoughtful architectural design, offers strong income potential and exceptional owner-user appeal. The centerpiece is a sophisticated 4-bedroom, 5-bath waterfront residence featuring a private elevator, 3-car garage, and multiple expansive decks with direct canal exposure.The open, modern floor plan includes a formal living room with fireplace and custom built-ins, a dining area with French doors opening to a canal-front yard for seamless indoor-outdoor living, and a chef's kitchen with custom cabinetry, travertine countertops, stainless steel appliances, center island with bar seating, and a walk-in pantry.The private yard is ideal for entertaining. Upper levels offer dual primary suites with spa-style bathrooms, fireplaces, seating areas, and private balconies overlooking the canals. Delivered fully furnished and turnkey.The remaining four units are finished to a comparable standard and include two 3-bedroom, 3-bath townhouse-style residences and two 1-bedroom, 1.5-bath single-level units. Each unit features central HVAC, in-unit laundry, fireplaces, travertine finishes, generous storage, and high-end appliances.The property offers a total of 10 parking spaces, including a 3-car garage for the main residence and seven additional spaces. Panoramic views include the Venice Canals.Ideally located just two blocks from the beach and moments from premier dining, retail, and entertainment.Suitable for both investors seeking a high-quality income-producing asset and owner-users desiring a flagship coastal residence with supplemental income. Exceptional value-add and repositioning potential in a highly sought-after waterfront location. Lender-owned REO property. Listing Agent holds a partial ownership interest in the entity that owns the property. Information provided is deemed reliable but not guaranteed. Buyer to independently verify all aspects of the property, including square footage, permits, zoning, financials, and any potential use, including short-term rental eligibility. Property is sold in its present condition. Seller and Broker make no warranties or representations. Read Less
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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