tomo logo

$2,700,000

Beds
3
Baths
2.0
sq ft
1,634

215 Windward Ave, Venice, CA 90291

215 Windward Ave

Venice, CA 90291

  • 82 days on market
    • Price drop $650,000↓
With low down payment SBA financing available & extra income from a mural wall scape, could owning a live/work property in Venice Beach help your creative business grow this year? What if you could own this amazing space for 10% less than it appraised for in October 2020? This is the opportunity at hand as the Seller needs to offset other gains in her portfolio, so we can structure a massive win-win with the Seller's loss and your gain! Etched into the heart of quintessential L.A. coolness in vibrant Venice Beach, and just brimming with potential to bloom into yet untold creative expression. Offering immense flexibility with allowable commercial and residential uses, and strategically located at the entry of the Windward Circle near the Venice sign, this unique creative office or live/work opportunity on a versatile C2 street-to-alley lot is a perfectly blended segue between commercial and residential corridors. Just a hop-skip away from Abbott Kinney (literally crowned "the coolest block in America" in GQ's Style Bible), and just a stone's throw to Rose Corridor and Main Street, just blocks to the sand, and billed as both a Walker's and Biker's Paradise, positively everything is within reach. The property itself presents as a standalone single-story boutique building with soaring skylit ceilings and bathed in abundant natural lighting, evoking the embodiment of SoCal vibes throughout its modern open floor plan. With a compelling blend of aesthetics and functionality, the building spans 1,634 square feet across three spacious bedrooms, recently remodeled kitchen and two bathrooms. Adding to the versatility, a storage room with separate entry and huge crawlspace are already in place for those in need of ample storage or data rooms, and the convenient alley access parking allows for 4 cars or room for additional upside down the road. Adjacent to a swathe of luxury residential homes and immersed in one of the highest concentrations of tech and creative residents of Silicon Beach, this property has provided consistent short-term rental income from a variety of clientele seeking inspiration from the buzzing cultural mecca that is Venice. And with 60 feet of prominent street frontage on Windward and accessibility to numerous amenities and restaurants provides for excellent visibility and lucrative signage opportunities for additional income potential. Presently permitted as a residential home, residential or SBA commercial financing may be available depending on intended use, presenting a unique opportunity to add a trophy location for creative business owners, investors, and homeowners alike. Less than a mile from Marina del Rey, just two miles from Santa Monica, easy access to the rest of the Westside Los Angeles via nearby Highway 1, 10 and 405 freeways, and access the rest of the world via nearby LAX Airport, all roads lead to Venice.

Details

Property type

Single Family Residence

Est. home value

$2,804,882

Lot size

3,309 sq ft

Price per sq ft

$1,653

Year built

1905

HOA

No

Price History

05/29/2024
CLAW

CLAW #24378013

Price change
$2,700,000
-19.4%
04/09/2024
CLAW

CLAW #24378013

Listed
$3,350,000
+6.65%
12/17/2020
CLAW

CLAW #21774318

Sold
$3,141,000

Schools & Community

Neighborhood: 

Venice

Elementary school: 

Unknown

Middle school: 

Unknown

High school: 

Unknown

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

Bbcn Bank

Loan start date

November 2020

Original loan amount

$2,550,000

Est. remaining balance

Not provided

Interest rate

2.88%

Loan type

SBA Participation Trust Deed

Seller

Jung Y Chaing and Hoon Ae Chaing

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?

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Status: Active

Tomo last checked: 07/01/2024 at 10:20 AM

Listing updated: 05/31/2024 at 10:12 AM

Listed by: Vivian Chaing, Property Concierge Phone #: (310) 463-5181

MLS: CLAW #24378013

CLAW logo

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