$2,455,000
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Marco Place Place Venice, CA 90291
Cluster
Residence
8
Beds
6
Baths
3,564
Sq. Ft.
0.17
Acre
Lot
Property Activity
Time on Site
days
Days on Market
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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 St...reet 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.
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MLS#
24425941
Property Type
Cluster
Status
Bedrooms
8
Bathrooms
Year Built
1925
Square Feet
3,564
sq. ft
Lot Size
0.17
Stories
2.0
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Walk Score measures the walkability of any address, Transit Score measures access to public transit on a scale of 1-100.
Source: Walk Score®
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