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$2,495,000

Beds
5
sq ft
2,743

205 5th Ave, Venice, CA 90291

205 5th Ave

Venice, CA 90291

  • 168 days on market
    • Price drop $155,000↓
    • Open house Nov 17
Welcome to this timeless and dreamy Spanish duplex located in the vibrant Rose Corridor, nestled between Venice and Santa Monica. With the perfect blend of classic elegance, timeless style, and modern upgrades, this two-unit property w/ a vacant unit offers endless opportunities - live in the bottom unit with the upstairs as a rental for passive income, rent the entire property for your investment portfolio, or utilize the property as your future compound. The reimagined downstairs space features a spacious 2-bedroom, 2-bathroom residence adorned with hardwood floors, arched doorways, and a beautiful original fireplace, creating a warm and inviting atmosphere. A separate bonus space with a private entrance completes this unit, perfect for guest quarters or a home office! Move onto the upstairs unit boasting a completely remodeled 3-bedroom, 2-bathroom unit (currently occupied by tenant) with an open floor plan and a private balcony, offering a serene retreat with city and tree-top views. Additional amenities include a detached garage, gated parking, an amazing deck ideal for outdoor dining and relaxation, and a cozy courtyard designed for gatherings and entertainment. Expand later and add an ADU, making it a true gem in Venice. Live the SoCal dream minutes to the beach and in the heart of some of Los Angeles' best restaurants, coffee shops, and boutiques. Also, just a short stroll to Whole Foods, parks, and more. Seller is open to partial seller financing at 6% for 2 years.

Details

Property type

Est. home value

$2,518,549

Lot size

4,141 sq ft

Price per sq ft

$910

Year built

1929

HOA

No

Price History

07/17/2024
CLAW

CLAW #24395243

Price change
$2,495,000
-5.85%
05/30/2024
CLAW

CLAW #24395243

Listed
$2,650,000
05/15/2024
CLAW

CLAW #24376231

Removed
$2,650,000

Schools & Community

Neighborhood: 

Venice

Elementary school: 

Unknown

Middle school: 

Unknown

High school: 

Unknown

High school district: 

Los Angeles Unified

Seller’s Loan History

Before you make an offer, understand who you are negotiating with so you can tailor your negotiation strategy to their situation.

Lender

Yasaman Farmanara

Loan start date

August 2022

Original loan amount

$1,143,750

Est. remaining balance

Not provided

Interest rate

5.78%

Loan type

Seller take-back

Seller

Yasaman Farmanara and Yasaman Farmanara Revocable Trust

Lender

Yasaman Farmanara

Loan start date

December 2021

Original loan amount

$1,143,750

Est. remaining balance

Not provided

Interest rate

3.09%

Loan type

Commercial

Seller

Sam Farmanara

Source: Public records data

If you're the owner, you can request to remove loan details. Email listingsupport@tomo.com

How insights can help you

Interest rate

If the seller has a low interest rate, they may be tempted to rent the property out if they can't get the price they have in mind.

Motivation

If the seller already got a job in a different city, they may feel pressure to sell quickly to free up cash for a new home.

Equity

If the seller stands to receive a large amount of cash when they sell the property, they might be willing to negotiate on the offer price.

Interested in learning more?

Status: Active

Tomo last checked: 11/14/2024 at 6:00 PM

Listing updated: 11/14/2024 at 1:35 PM

Listed by: Paige Ogden, Pardee Properties Phone #: (310) 907-6517

MLS: CLAW #24395243

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