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Derek Reilly

derek@westsidederek.com +1(310) 902-2909

$ 2,995,000

Est. payment | -/mo

6 Beds

6 Baths

2,992 SqFt

Save

$ 2,995,000

Est. payment | -/mo

Save

6 Beds

6 Baths

2,992 SqFt

Key Details

Property Type Single Family Home

Listing Status Active

Purchase Type For Sale

Square Footage 2,992 sqft

Price per Sqft $1,001

MLS Listing ID 26835373

Bedrooms 6

HOA Y/N No

Year Built 1924

Lot Size 4,795 Sqft

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

Area C11 - Venice

Zoning LAR2

Interior

Interior Features Ceiling Fan(s), Loft

Heating Central

Cooling Central Air

Fireplace No

Appliance Dishwasher, Refrigerator

Laundry See Remarks

Exterior

Parking Features Converted Garage, Door-Single, Garage, On Street

Garage Spaces 1.0

Garage Description 1.0

Total Parking Spaces 1

Building

Story 2

Entry Level Two

Architectural Style Spanish

Level or Stories Two

New Construction No

Others

Senior Community No

Tax ID 4241030006

Special Listing Condition Standard

CRMLS Full IDX Feed (MAIN Website Search)

Listed by Mario Aceves The Agency #02026114

Nearby Locations

"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "

+1(310) 902-2909

derek@westsidederek.com

4215 Highland Ave, Manhattan Beach, California 90266, USA

935 Venezia AVE Venice, CA 90291

Derek Reilly

Key Details

Location

Interior

Exterior

Building

Others

Nearby Locations

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935 Venezia AVE