tomo logo

$1,495,000

Beds
3
sq ft
1,600

2818 Abbot Kinney Blvd, Venice, CA 90291

2818 Abbot Kinney Blvd

Venice, CA 90291

  • 67 days on market
    • Price drop $55,000↓
Huge 200k Price Reduction! One of the best values in Venice has arrived. Welcome to this dreamy, completely renovated duplex that is charming and offers immense opportunities on Abbot Kinney in the heart of Venice Beach! This modern and reimagined income property is ready for both owner-users and investors with two renovated vacant units. This is the perfect property to lease and park your cash in this one-of-a-kind investment, with a projected 4.6% Cap Rate and 15.2 GRM once leased. Endless ways to utilize this property; the moment you receive the keys rent both units at market rates, or perfect for an owner user who wants a pied a-terre, expand and develop, or live in one and rent the other for passive income!! This quintessential property could not be in a better location. With some of Los Angeles' best restaurants, coffee shops, and boutiques at your doorstep, you are a quick stroll to the beach and the Venice Canals! // About This Home: As you enter the charming gate, you are welcomed by a private, serene aesthetic surrounded by lush landscaping that creates an ultra-private oasis. Consisting of two (2) units, you will be wowed at how much space is offered and how functional the floorplans are in each unit. The front 1 Bdrm/1 Bath unit is perfectly designed, with tranquil views of the front yard, and is infused with natural light. Every space has been thought of and is relaxing and cozy. The back 2 Bdrm/2 Bath unit is very warm and inviting, with a sunny living area, and flows into a dining room and kitchen. Your primary retreat has a nice-sized closet space with an ensuite bathroom, and the second bedroom is fabulous as a home office or guest space. An attached nicely sized garage, with more parking in the exterior drive. This additional space allows you to expand the living space while keeping parking intact. Utilize this space for parking and storage, or make this a den/hangout area, media room, game room, home gym, or creative haven! // We Love: All the upside potential here! Ready for your investment portfolio now or have yourself a great income-producing property in one of the best locations on the Westside. // The Neighborhood: With some of Los Angeles's best restaurants, coffee shops, and shopping at your doorstep, everything you could want or need is here. Ride your bike to the beach, or stroll to the Venice Canals. This is SoCal living at its finest. This rare gem will not last long! Perfect Live/Work/Rent/Development/Airbnb Opportunity on the world-famous Abbot Kinney Blvd in the heart of Venice on a C2 zoned lot, which may also be used for short-term rentals/office/retail. There are preliminary plans for a potential attached ADU in the garage for future upside -- available upon request!

Details

Property type

Lot size

3,003 sq ft

Price per sq ft

$935

Year built

1954

HOA

No

Price History

05/30/2024
CLAW

CLAW #24382897

Price change
$1,495,000
-3.55%
04/24/2024
CLAW

CLAW #24344321

Removed
$1,550,000
04/24/2024
CLAW

CLAW #24382897

Listed
$1,550,000

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

Conventus Llc

Loan start date

February 2022

Original loan amount

$1,080,000

Est. remaining balance

Not provided

Interest rate

3.45%

Loan type

Commercial

Seller

Burbank Apartments Llc

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: 07/01/2024 at 11:20 AM

Listing updated: 06/21/2024 at 6:03 PM

Listed by: Samantha Kinnon, Pardee Properties Phone #: (310) 907-6517

MLS: CLAW #24382897

CLAW logo

Recently listed in Venice

$2,795,000|4 bd|3.0 ba|House
$3,300,000|6 bd|5.5 ba|House
$2,095,000|2 bd|3.0 ba|Townhouse
$3,325,000|4 bd|4.5 ba|House
$2,150,000|3 bd|2.25 ba|House
$1,975,000|3 bd|3.0 ba|House
$2,195,000|3 bd|2.0 ba|House
$3,675,000|5 bd|5.5 ba|House
$7,000,000|5 bd|8.0 ba|House
$3,664,850|3 bd|3.5 ba|House