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$ 2,995,000
Est. payment /mo
Active
935 Venezia Avenue Venice (los Angeles), CA 90291
4 Beds
2,992 SqFt
UPDATED:
Key Details
Property Type Single Family Home
Sub Type OTHER
Listing Status Active
Purchase Type For Sale
Square Footage 2,992 sqft
Price per Sqft $1,001
MLS Listing ID CL26835373
Bedrooms 4
HOA Y/N No
Year Built 1924
Lot Size 4,798 Sqft
Acres 0.11
Property Sub-Type OTHER
Property Description
Positioned in one of Venice's most coveted pockets just steps from the iconic Walk Streets, the vibrant boutiques of Abbot Kinney, and the ocean, this unique four-unit compound presents an exceptional value opportunity west of Lincoln. Tucked behind mature, lush landscaping on one of Venice's best streets, the property features almost 3,000 sqft of charming living spaces, complemented by a communal laundry facility and a 1-car garage. Delivered completely vacant, this compound serves as a turnkey canvas ready to be optimized to its full short-term rental potential. The spacious 1,500 sqft original Spanish-style front home features two bedrooms and three bathrooms, anchored in the rear by a completely detached 735 sqft upstairs apartment containing two bedrooms and one bathroom. The remaining footprint is composed of 200 sqft ground-floor converted garage studio, alongside a separate 160 sqft bohemian tiki hut. Detailed financial track record and platform performance statements are available to qualified buyers upon request. Verified operational financials showcase the property's massive short-term revenue engine, showing an annualized gross run-rate between $310,000 to $860,000 in recent years, with a historical performance ceiling that peaked at $1,135,000 in a single operating year. The compound offers a versatile investment strategy: it functions as a rock-solid, passive investment with an as-is traditional long-term leasing Cap Rate starting at 4.80%, while simultaneously offering a battle-tested short-term platform history that has delivered up to an exceptional 26.40% Cap Rate at peak historical capacity. For an owner-user, the compound functions as an incredible mortgage offset while occupying the detached main front property. This is an elite coastal real estate play built for the short-term market, where multi-unit flexibility meets a battle-tested revenue engine.
Location
State CA
County Los Angeles
Zoning LAR2
Interior
Heating Central
Cooling Central Air
Fireplace No
Laundry See Remarks
Exterior
Total Parking Spaces 1
Building
New Construction No
Others
Tax ID 4241030006
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Listed by Mario Aceves • The Agency