CA > Venice
Venice, CA 90291,924 -928 Marco PL
Venice, CA 90291,924 -928 Marco PL
Venice, CA 90291,924 -928 Marco PL
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$2,995,000
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8 BD
6 BA
3,564 SqFt
Active

924 -928 Marco PL Venice, CA 90291

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Norman Bramstedt

Norman Bramstedt

+1(619) 955-0488

UPDATED:

10/22/2024 06:18 AM

Key Details

Property Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 3,564 sqft

Price per Sqft $840

MLS Listing ID 24425941

Bedrooms 8

Construction Status Updated/Remodeled

HOA Y/N No

Year Built 1925

Lot Size 7,204 Sqft

Property Description

A Venice walk street, 6 well-maintained units with alluring artisanal features, tremendous upside, AND development potential. Located in the heart of the world-famous Walk Streets of Venice, adjacent to other bustling neighborhoods such as Santa Monica, Marina Del Rey, and Mar Vista, "Venice Walk Street 6" showcases the best features of old Venice. With trendy eateries, bars, shops, and iconic landmarks and beaches just minutes away, the property benefits from an insatiable rental demand and legendary long-term capital appreciation. The property's proximity to renowned employers such as Sony, Amazon, Snapchat, Hulu, CBS, Adobe and Oracle only reinforce its historic, iconic location and potential as both an income property or a development site."Venice Walk Street 6" showcases unique artisanal construction and features, providing each unit with one dedicated parking space, gated entry, and a communal lounging patio. The front entrance to the property is guided by a secluded walkway, with the garages running along the opposing street. The property is comprised of 3 duplex buildings, and offers an efficient mix of four (1+1) units and two (2+1) units.In its current form, there is significant rental upside through relet, however, with premium upgrades an investor may be able to create a new market rate beyond the published market target. The garages, which are mostly vacant, are excellent potential ADU candidates and if desired, an operator utilizing a furnished hospitality concept, could see cash flow multiply well beyond traditional expectations.Developers take note, as this large, nearly square 80*90 LAR2, 7,201 SF double lot offers the potential to build an amazing compound or small lot project. With uber lux new single family construction on the block, there is a variety of exit and investment tracks a developer can take this property.

Location

State CA

County Los Angeles

Area C11 - Venice

Zoning LAR2

Interior

Cooling None

Flooring Wood

Fireplace No

Appliance Refrigerator, Dryer, Washer

Exterior

Garage Garage

Garage Spaces 6.0

Garage Description 6.0

Pool None

Community Features Gated

View Y/N Yes

View Courtyard

Porch Enclosed, Open, Patio

Total Parking Spaces 6

Private Pool No

Building

Lot Description Secluded

Story 2

Entry Level Two

Foundation Raised

Architectural Style Bungalow

Level or Stories Two

New Construction No

Construction Status Updated/Remodeled

Others

Senior Community No

Tax ID 4241024008

Security Features Gated Community

Special Listing Condition Standard

California Regional MLS (CRMLS)
Listed by Scott Rosenberg • Kidder Mathews of California, Inc.

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Norman Bramstedt

Broker Associate | License ID: 01435004

+1(619) 955-0488

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924 -928 Marco PL