924 Marco Pl Open House Save Request In-Person Tour Request Virtual Tour
Venice,CA 90291
OPEN HOUSE
Tue Oct 22, 11:00am - 1:00pm
Key Details
Property Type Multi-Family
Sub Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 3,564 sqft
Price per Sqft $840
MLS Listing ID 24-425941
Style Bungalow
Bedrooms 8
Construction Status Updated/Remodeled, Value Mainly In Land
Year Built 1925
Lot Size 7,203 Sqft
Acres 0.1654
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 Venice
Zoning LAR2
Rooms
Other Rooms None
Interior
Heating Floor
Cooling None
Flooring Wood
Equipment Other, Washer, Dryer, Refrigerator
Exterior
Garage Garage
Garage Spaces 6.0
Pool None
View Y/N Yes
View Walk Street, Courtyard
Building
Lot Description 2-4 Lots, Fenced, Walk Street, Secluded, Redevelopment Area
Story 2
Foundation Raised
Architectural Style Bungalow
Level or Stories Two
Construction Status Updated/Remodeled, Value Mainly In Land
Others
Special Listing Condition Standard