Sold: Apr 16, 2021
Address
627 California Avenue Venice, CA
Price
$ 1,775,000
Property Attributes
  • MLS#21681750
  • TypeIncome
  • CountyLOS ANGELES
  • CityVenice
  • Zip90291
  • Style
  • Price$ 1,775,000
  • Bedrooms5
  • Full Bathrooms5
  • Half Bathrooms0
  • Lot Size6,754 SqFt
Listing Provided Courtesy Of:
Kamfar Kyle Mirrafati with Matthews Real Estate Investment Services -
Data Source:
California Regional MLS (CRMLS) - 25 - CA
Property Description

627 California Avenue is a unique value add or condo development opportunity steps from the famous Abbott Kinney Blvd. It currently consists of 5 individual bungalow units with a mix of Studio & 1-bedroom units and 4 private garages in the back alley that are rented for additional income. The property sits on a 6,754 Sq Ft Lot (45 x 179) with LARD 1.5 zoning making this perfect for a Condo or Small Lot Subdivision development opportunity in the highest demand rental and condo market in the country. This amazing location with a Walk Score of 94 is just off Abbott Kinney Blvd, and is less than a mile from Venice Beach Boardwalk, Rose Avenue Corridor, Main Street; steps from all the great shops, restaurants, and nightlife in the area. An investor can capitalize on the large lot and highly desirable condo market to build multiple condos that will each sell north of $2.1M or implement a value-add strategy to increase rents on the existing structures.

Price History

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Primary On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Income Average in 90291

Price
AVG $3.63M
$1.78M

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