924 -928 Marco Place

Venice, CA 90291

$2,995,000

List Price

8

bed Beds

6

shower Baths

3,564 sqft

straighten / sqft

1925

calendar_month Built

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.

Listing Information

List Price $2,995,000
Status Active
MLS 24425941
Type Residential Income
Year Built 1925
Lot Size 7,203
Structure Size 3,564
DOM 8
Courtesy Of Kidder Mathews of California, Inc.
Listing Agent Scott Rosenberg DRE#01456686

Interior Features

Total Bedroom
Bedrooms 8
Total Bathroom
Bathrooms 6
Flooring Information
Material Wood
Cooling Type
Cooling Type None

Exterior Information

Other Structures
Features Enclosed, Open, Patio
View Yes

Maps

Listing information courtesy of: Scott Rosenberg, Kidder Mathews of California, Inc. . *Based on information from the Association of REALTORS/Multiple Listing as of Aug 17th, 2024 at 12:13 PM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.