924 -928 Marco PL Active Save Request In-Person Tour Request Virtual Tour
Venice,CA 90291
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 3,564 sqft
Price per Sqft $840
MLS Listing ID 24425941
Bedrooms 8
Construction Status Updated/Remodeled
HOA Y/N No
Year Built 1925
Lot Size 7,204 Sqft
Property Description
A Venice walk street, 6 well-maintained units with alluring artisanal features, tremendous upside, AND development potential. Located in the heart of the world-famous Walk Streets of Venice, adjacent to other bustling neighborhoods such as Santa Monica, Marina Del Rey, and Mar Vista, "Venice Walk Street 6" showcases the best features of old Venice. With trendy eateries, bars, shops, and iconic landmarks and beaches just minutes away, the property benefits from an insatiable rental demand and legendary long-term capital appreciation. The property's proximity to renowned employers such as Sony, Amazon, Snapchat, Hulu, CBS, Adobe and Oracle only reinforce its historic, iconic location and potential as both an income property or a development site."Venice Walk Street 6" showcases unique artisanal construction and features, providing each unit with one dedicated parking space, gated entry, and a communal lounging patio. The front entrance to the property is guided by a secluded walkway, with the garages running along the opposing street. The property is comprised of 3 duplex buildings, and offers an efficient mix of four (1+1) units and two (2+1) units.In its current form, there is significant rental upside through relet, however, with premium upgrades an investor may be able to create a new market rate beyond the published market target. The garages, which are mostly vacant, are excellent potential ADU candidates and if desired, an operator utilizing a furnished hospitality concept, could see cash flow multiply well beyond traditional expectations.Developers take note, as this large, nearly square 80*90 LAR2, 7,201 SF double lot offers the potential to build an amazing compound or small lot project. With uber lux new single family construction on the block, there is a variety of exit and investment tracks a developer can take this property.
Location
State CA
County Los Angeles
Area C11 - Venice
Zoning LAR2
Interior
Cooling None
Flooring Wood
Fireplace No
Appliance Refrigerator,Dryer,Washer
Exterior
Garage Garage
Garage Spaces 6.0
Garage Description 6.0
Pool None
Community Features Gated
View Y/N Yes
View Courtyard
Porch Enclosed,Open,Patio
Total Parking Spaces 6
Private Pool No
Building
Lot Description Secluded
Story 2
Entry Level Two
Foundation Raised
Architectural Style Bungalow
Level or Stories Two
New Construction No
Construction Status Updated/Remodeled
Others
Senior Community No
Tax ID 4241024008
Security Features Gated Community
Special Listing Condition Standard