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$ 350,000

Est. payment -/mo

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Active Under Contract

717 Venice Blvd Venice, CA 90291

1 Bed

1 Bath

870 SqFt

UPDATED:

08/30/2024 03:27 PM

Key Details

Property Type Condo

Sub Type Condo

Listing Status Active Under Contract

Purchase Type For Sale

Square Footage 870 sqft

Price per Sqft $402

MLS Listing ID 24-421457

Style Architectural

Bedrooms 1

Full Baths 1

Construction Status Updated/Remodeled

HOA Fees $514/mo

HOA Y/N Yes

Year Built 2017

Lot Size 8,152 Sqft

Acres 0.1871

Property Description

Curious about a non-typical real estate investment - learn more about this interesting investment opportunity in the heart of Venice. Here is how it works: 1) You buy this *DEED-RESTRICTED* unit at the list price, which is less than 50% of market value. 2) You rent it out to a low-income eligible household at a current maximum allowable rent of $1,178, subject to annual rental increases, for at least 24 years. 3) After the Covenant expires, you can rent or sell it at then-market value (subject to tenant's rent control rights at that time). 4. Your gain is 24+ years of appreciation in the Venice market, plus the gain for buying it far below market value today. // This is a DEED-RESTRICTED UNIT and must be rented to a low-income eligible household at a maximum allowable rent of $1,178 per month. Buyer will be required to execute a Consent Agreement with the City of Los Angeles agreeing to the Assignment and Assumption of the Restriction Covenant on the property. // Experience the epitome of California living in this stunning 1-bedroom, 1-bath condo located in the heart of Venice. The open-concept floor plan seamlessly integrates indoor and outdoor spaces, highlighted by floor-to-ceiling sliding doors that open to your private patio perfect for soaking up the sun and enjoying the coastal breeze. Inside, the light-filled unit boasts a sleek open kitchen with waterfall-style countertops and bar seating, complemented by warm wood floors that flow throughout the main living area. The bedroom is a tranquil retreat and includes a walk-in closet and access to the private patio. This home also offers the ultimate convenience with in-unit laundry, a split-unit HVAC system, a tankless water heater, and a parking spot located just steps from your door. Situated in a prime location, you'll find yourself surrounded by the best amenities Los Angeles has to offer. Savor the flavors of renowned restaurants on Abbot Kinney, relax in fabulous coffee shops, and shop at the exclusive Erewhon market just steps from your door. Live the vibrant Venice lifestyle in a home that truly has it all.

Location

State CA

County Los Angeles

Area Venice

Building/Complex Name Venice Wedge HOA

Zoning LAR2

Rooms

Dining Room 0

Kitchen Open to Family Room, Remodeled

Interior

Interior Features Recessed Lighting, Open Floor Plan

Heating Wall

Cooling Air Conditioning, Wall Unit(s)

Flooring Tile, Wood, Marble

Fireplaces Type None

Equipment Dishwasher, Refrigerator, Range/Oven, Washer, Dryer

Laundry Inside

Exterior

Garage Carport, Covered Parking

Garage Spaces 1.0

Pool None

Amenities Available None

Waterfront Description None

View Y/N No

View None

Building

Story 2

Sewer In Street

Water Public

Architectural Style Architectural

Level or Stories One

Construction Status Updated/Remodeled

Schools

School District Los Angeles Unified

Others

Special Listing Condition Standard

Pets Description Pets Permitted, Yes

The multiple listings information is provided by The MLSTM/CLAW from a copyrighted compilation of listings. The compilation of listings and each individual listing are ©2024 The MLSTM/CLAW. All Rights Reserved.

The information provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All properties are subject to prior sale or withdrawal. All information provided is deemed reliable but is not guaranteed accurate, and should be independently verified.

Listed by Pardee Properties

GUIDE SoCal

Broker | License ID: DRE#01976964

GUIDE SoCal

717 Venice Blvd Venice, CA 90291

Key Details

Location

Rooms

Interior

Exterior

Building

Schools

Others

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717 Venice Blvd