Description
West of Lincoln and filled with quintessential Venice charm, this exceptionally well-kept triplex w/ 2 vacant units offers a rare combination of lifestyle, income, and long-term upside. Situated on a large 5,281 square foot RD1.5-zoned lot, the property features a vacant one-bedroom unit with its own private outdoor space, a large occupied studio with its own private outdoor space, and the true star of the property a vacant two-bedroom owner's unit with an incredible private backyard of more than 350 square feet. The owner's unit is thoughtfully designed with its own in-unit laundry, beautiful architectural archways, an open and inviting floor plan, and a seamless connection to the outdoors. The backyard is what truly sets this property apart. Large, private, and incredibly hard to find in Venice, it feels like a natural extension of the home with plenty of room to entertain friends, dine outside, relax in the sun, garden, or even add a play set for the kids. It delivers the kind of indoor-outdoor lifestyle that makes Venice living so special. For an owner-user, the setup is hard to beat. Live in the spacious two-bedroom unit and enjoy the privacy, yard, and lifestyle of your own home while collecting rent from the other two units to help offset your monthly payments. This isn't your average triplex where the owner's unit feels like just another apartment. Here, you can genuinely feel like you're living in your own single-family home while benefiting from additional rental income right on the property. Adding another layer of opportunity is the massive three-car garage with alley access, offering more than 650 square feet of additional space and incredible flexibility for the future. Keep it as exceptional off-street parking and storage, explore the potential for future ADUs, or imagine transforming some or all of the space into an amazing bonus room, game room, workshop, work-from-home studio, creative space, or gym. With more than 650 square feet to work with, it is a substantial value-add and an exciting blank canvas for the next owner.Investors should take notice as well. With both the two-bedroom and one-bedroom units delivered vacant, a new owner has the opportunity to secure market rents on two of the three units from day one. At projected market rents, the property pencils to approximately a 5% cap rate, creating an attractive opportunity for someone looking to add a well-maintained Venice triplex to their portfolio without taking on a major renovation project.And for buyers thinking longer term, the 5,281 square foot RD1.5-zoned lot creates another compelling layer of upside. As Los Angeles building regulations, density bonuses, and housing incentives continue to evolve, the property offers exciting potential for a buyer interested in maximizing the site over time. Buyers should independently investigate current zoning, density bonus programs, ADU opportunities, and development potential with the City. Whether you're an owner-user looking for a home with rental income, an investor seeking immediate income potential, or a buyer thinking about the property's longer-term development possibilities, this is far more than your average triplex. It's a uniquely Venice opportunity combining a true sense of home, meaningful private outdoor space, more than 650 square feet of garage space, rental income, and future upside all west of Lincoln.
Details
| MLS # | 26992139 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Pending |
| Year | 1949 |
| Days On Site | 31 |
| Listing Provided By | Pardee Properties | Tyler Kunkle |
Features
| Bed(s) | 3 |
|---|---|
| Bath(s) | 3 |
| SQ Feet | 1,708 |
| Story(s) | 1 |
| Units | 3 |
| Building(s) | 1 |
| Zoning | LARD1.5 |
| Acreage | 0.12 |
Interior
| Heating | Wall Furnace |
|---|---|
| Heating Yes / No | Yes |
| Interior Features | Ceiling Fans |
| Appliances | Refrigerator, Dryer, Washer |
| Fireplace Yes / No | No |
Exterior
| Lot Features | Front Yard |
|---|
Parking
| Parking Features | Door Multi, Driveway, Garage |
|---|
Utilities
| Sewer | Other |
|---|
Area Information
| State | CA |
|---|---|
| County | Los Angeles |
| City | Venice |
| Zip Code | 90291 |
| Area | C11 Venice |
| Listing VS Median (in 90291) | |
Price: $1,875,000 low | high Med: $1,849,000 sqft: 1,708 low | high Med: 2,035 $ / sqft: $1,098 low | high Med: $909 On site: 31 low | high Med: 59 | |
Market Activity 90291
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Learn More About This Property
| State | CA |
|---|---|
| County | Los Angeles |
| City | Venice |
| Zip Code | 90291 |
| Area | C11 Venice |
| Listing VS Median (in 90291) | |
Price: $1,875,000 low | high Med: $1,849,000 sqft: 1,708 low | high Med: 2,035 $ / sqft: $1,098 low | high Med: $909 On site: 31 low | high Med: 59 | |
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