tomo logo

$2,799,999

Beds
4
sq ft
2,055

718 Vernon Ave, Venice, CA 90291

718 Vernon Ave

Venice, CA 90291

  • 70 days on market
    • Price drop $100,000↓
Experience the true essence of Venice Beach living with this exceptional Triplex (delivered vacant & furnished). Its alluring features, including private hot tubs, a serene communal garden, and a prime location, culminate in a coastal haven that harmoniously blends lifestyle and income. One of the standout features is the fully assumable loan of nearly $1.3M at an incredible 3.25% interest rate, providing unparalleled value in today's market. Whether you're an investor seeking a profitable venture or a homeowner seeking a retreat to call your own, this property is an opportunity that cannot be overlooked. This Triplex is a turn-key long or short term rental, ensuring it's ready for seamless occupancy and an immediate revenue stream (will be delivered vacant). Boasting two separate structures, each finely furnished with custom-built furniture, this property features three units that are fully equipped with a 2bed +3bath main owners (with WFH office or 3rd bedroom) unit & (2) 1+1 rental units with an oasis of comfort, style, and convenience. This magical outdoor haven features a custom 100ft long pergola adorned with a graceful canopy and an enchanting communal garden area. As an income-generating gem, this Triplex has the potential to yield an impressive monthly income or perfect for family & friends compound. The thriving rental market in Venice Beach and the property's alluring features and prime location make this investment worthwhile.

Details

Property type

Property condition

Updated/Remodeled

Lot size

4,802 sq ft

Price per sq ft

$1,363

Year built

1922

HOA

No

Price History

10/18/2024
CLAW

CLAW #24436235

Price change
$2,799,999
-3.45%
09/05/2024
CLAW

CLAW #24436235

Listed
$2,899,999
-9.23%
07/10/2024
CLAW

CLAW #24374997

Removed
$3,195,000

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

Us Bank Na

Loan start date

August 2017

Original loan amount

$1,276,219

Est. remaining balance

Not provided

Interest rate

3.25%

Loan type

Adjustable Rate Mortgage, 30 year

Seller

Georgianne A Levangie and Francis Levangie

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 5:20 PM

Listing updated: 11/03/2024 at 12:20 PM

Listed by: Frankie Levangie, Coldwell Banker Realty Phone #: (310) 457-6550

MLS: CLAW #24436235

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