Active
$3,495,000
2 Units
3 Beds
3 Baths
3,000 Area(sq.ft.)
Lot: 1,866 Lot Size(sq.ft.)
| Type | # of Units | Bedroom | Bath | Furnished | Rent | Actual Rent | Projected Rent |
|---|---|---|---|---|---|---|---|
| Unit 1 | 1 | 2 | 2 | No | $ 14,000 | $ 14,000 | $ 14,000 |
| Unit 2 | 1 | 1 | 1 | No | $ 4,000 | $ 4,000 | $ 4,000 |
| 2 | 3 | 3 | $ 18,000 | $ 18,000 | $ 18,000 |
| MLS #: | 25542837 |
| Days On Market: | 189 |
| Listing Date: | May 31, 2025 |
| County: | Los Angeles |
| Property Type: | Residential Income |
| Price per ft2: | $ 1,165 |
| Price per unit: | $ 1,747,500 |
| Year Built: | 2013 |
Property Details
"The Venice Art House", a James Bond architectural fully gated property with rare LAC2 zoning and two addresses in the heart of Venice. Between Abbott Kinney Boulevard and Lincoln, this compound is fully secured and private. The property features 3 beds and 3 full baths, with a rooftop outdoor shower, spa, infrared sauna, and custom sound. 11ft ceilings in the LR on the 2nd floor reach to 14ft in the open-concept kitchen with a stone bar, gigantic double-paned glass windows in the LR to limit sound, and ceiling to floor elegant custom drapes in the LR and BR. Black hardwood floors throughout, adorned with Timothy Oulton furniture set with vintage appointments, Miele appliances, thick steel beams, and elgantly bent iron railings. The first level features a 4-car garage, and a separate open studio space with its own entry and gate, polished concrete floors, rainfall shower, and it's own AC, kitchenette and washer/dryer. The house was built with sought after durability, including images of the build, and full blueprints. The spacious master bedroom offers British design, a beautiful custom walk-in closet, custom blackout drapes and curtains, and a private balcony. A spiral staircase above the kitchen leads to a library-movie room with four skylights, including one in the upper bathroom with full shower. A separate staircase from the LR leads to the rooftop deck featuring custom finished teak wood, lush California succulents and panoramic views from the palm tress in MDR to the hills above Sunset. Sun or work in privacy between the spa, fireplace and outdoor shower while listening to orchestra music above the city. The revenue from the separate studio and media can be retained, currently ranging from $4,000-6,000/mo, or the entire main house can be leased for an additional $15,000/mo or on VRBO and other platforms for more. With incredible versatility with LAC2 zoning, the entire three story property could also be transformed into a restaurant, lounge, gym, retreat spa, or media studio with remarkable possibilities. This is one of the rarest gems in all of Venice, offering a unique blend of privacy and security while allowing you to fully enjoy life in the heart of Venice.Interested in this Listing?
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Income Details
| Gross Operating Income: | $ 216,000 |
| Total Annual Expense: | $ 43,200 |
| Net Operating Income: | $ 172,800 |
| Gross Annual Income: | $ 216,000 |
| Cap Rate: | 4.94% |
| Gross Rent Multiplier: | 16.18 |
Structure
| Type of Units: | Contemporary |
| Buildings: | 1 |
| Levels: | Multi/Split |
Land & Parking
| Zoning: | LAC2 |
| Parking Garage: | Garage - 4+ Car, Gated |
Interior
| AC/Cooling: | Central |
| Equipment: | Alarm System, Dishwasher, Dryer, Freezer, Garbage Disposal, Ice Maker, Microwave, Range/Oven, Refrigerator, Washer |
| Heating: | Central |
Exterior
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