NOT LISTED FOR SALE

Estimated Value: $1,449,000 - $1,616,000

3 Beds
2 Baths
1,598 Sq Ft
$956/Sq Ft Est. Value

Last Sold October 04, 2024

Last sale price $1,400,000 $876 Per Sq Ft

Est. 9% increase in value since last sale

Current estimated payment $8,358/month

119 Days on Market

Highlights

  • 3 Car Attached Garage
  • 1-Story Property
  • Central Heating
  • Broadway Elementary Rated A

About This Home

As of October 2024

Step into your next lucrative investment an enchanting duplex that perfectly captures the essence of Venice living. Priced to sell with a 4% cap rate, this property offers endless opportunities for investors and owner-users. Situated on a prime lot just west of Lincoln, this duplex features two storybook cottages, each exuding unmatched charm and character. Located within walking distance to the trendy Main Street, Rose Avenue, and the vibrant Abbot Kinney Boulevard and only a short stroll to the beach, these cottages offer unparalleled access to Venice's best dining, shopping, and coastal experiences. The front cottage is a two-bedroom, one-bath haven combining classic charm and modern comfort. This space feels cozy and inviting with its dramatic vaulted ceilings, dark wooden beams bathed in natural light from elegant white shutters, and a skylight, which pours in a perfect luminosity blend. Speckled granite countertops meet antique white cabinetry, featuring glass and mesh-screened doors, creating a functional and aesthetically pleasing space. Hardwood floors, ample closet space, and thoughtful storage solutions make this cottage a dream home or a high-demand rental. The rear cottage is a cozy one-bedroom, one-bath retreat nestled in lush greenery that provides a peaceful and private setting. Inside, the living and dining areas feature white wainscoted ceilings and walls, complemented by built-in cabinetry, radiating classic elegance and warmth. The kitchen, with its sleek quartz countertop and all essential appliances, ensures convenience and style. A versatile back garage adds extra value with laundry facilities and space perfect for a study or personal retreat. The verdant garden oasis, adorned with lush foliage and vibrant flowers, offers tranquil seating areas for relaxation or intimate gatherings. This property is not just a home, it's an opportunity. Whether you choose to owner-occupy one of the units and offset your mortgage by collecting rent from the second unit or leverage it as an investment for your 1031 exchange, the potential for value appreciation is immense. Venice is an eclectic town that attracts a diverse crowd; everyone feels part of the community. This essence of inclusivity and vibrancy will only strengthen with time, making this property a wise investment for the future. The possibilities are endless consider converting the garage for additional income, expanding the existing units, or simply enjoying the lush backyard as your oasis. With independent electric and gas meters for each unit, managing this property is simple and efficient. Whether you want to expand your investment portfolio or seek a unique living opportunity, this duplex delivers on all fronts. Its location in one of the most coveted neighborhoods in Venice ensures a steady stream of potential tenants and an irresistible lifestyle for residents. Act quickly properties like this are rare in such a desirable location. Secure this gem today and start reaping the rewards of Venice's vibrant rental market.

Last Agent to Sell the Property

Rinde Philippe

Berkshire Hathaway HomeServices California Properties License #01895315 Listed on: 05/20/2024

Berkshire Hathaway HomeServices California Properties

Last Buyer's Agent

Michael Ragazzo

The One Luxury Properties License #02065102

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1922

Lot Details

  • 4,802

Home Design

  • Duplex

Interior Spaces

  • 1,598 Sq Ft Home
  • 1-Story Property

Kitchen

  • Oven or Range
  • Dishwasher

Bedrooms and Bathrooms

  • 3 Bedrooms
  • 2 Bathrooms

Laundry

  • Laundry in unit
  • Dryer
  • Washer

Parking

  • 3 Car Attached Garage
  • 2 Open Parking Spaces
  • Driveway

Additional Features

  • 4,802 Sq Ft Lot
  • Central Heating

Community Details

  • 2 Buildings
  • 2 Units

Listing and Financial Details

  • Assessor Parcel Number 4240-016-034

Property Details

Home Type

Multi-Family

Year Built

Built in 1922

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Levels: One
  • Street Number Display: Yes
  • Living Area: 1598
  • Lot Acreage: 0.1102
  • Year Built: 1922
  • State Abbrv: CA
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Stories: 0

Interior Features

  • Bedrooms: 3
  • Laundry: In Unit
  • Total Bathrooms: 2.00
  • Equipment: Dishwasher, Range/Oven, Refrigerator, Washer, Dryer
  • Price Per S Q F T: 931.16

Exterior Features

  • Other Structures: Other

Garage/Parking

  • Other Spaces: 2
  • Covered Parking: 1
  • Parking Garage: Driveway, Garage Is Detached
  • Total Parking: 3

Utilities

  • Heating: Central

Lot Info

  • Assessed Improvement Percent: 36.79
  • Assessed Improvement Value: 127024
  • Assessed Land Percent: 63.21
  • Assessed Land Value: 218257
  • Total Assessed Value: 345281
  • Assessor Parcel Number: 4240-016-034
  • Lot Size Area: 4802

Rental Info

  • Total Actual Rent: 79872.00

Multi Family

  • Unit Type: 2106, 2107
  • Gross Rent Multiplier: 20.00
  • Number Of Units: 2
  • Type Of Units: Duplex

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Apr 10, 2025
Sold by
Smith Cullen James
Bought by
Cullen James Properties Llc
Current Estimated Value
$1,528,099

Purchase Details

Listed on
May 20, 2024
Closed on
Sep 19, 2024
Sold by
James Harlan Trust and Harlan James R
Bought by
Smith Cullen James
Seller's Agent
Rinde Philippe
Berkshire Hathaway HomeServices California Properties
Buyer's Agent
Michael Ragazzo
The One Luxury Properties
List Price
$1,725,000
Sold Price
$1,400,000
Premium/Discount to List
-$325,000
-18.84%
Views
46

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
7.26%

Purchase Details

Closed on
Aug 19, 2016
Sold by
Harlan James R
Bought by
Harlan James R and James Harlan Trust

Purchase Details

Closed on
Jun 20, 2002
Sold by
Cofrances David
Bought by
Harlan James R

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$375,000
Interest Rate
6.6%
Mortgage Type
Stand Alone First
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
Collateral Analytics

Collateral Analytics Collateral Analytics AVMs (Automated Valuation Model) employ a number of statistical approaches combined with neighborhood-specific comparable selection guarantees the most up-to-date and precise valuations.

Not Available

Collateral Analytics does not have data for the current month. Please view the chart for historical values.

ICE

ICE Mortgage Technology ICE Mortgage Technology’s AVM (Automated Valuation Model) is a state-of-the-art online residential property valuation tool that provides a quick and accurate estimate of the value of almost any home in the U.S.

Not Available

ICE Mortgage Technology does not have data for the current month. Please view the chart for historical values.

First American

First American First American Data & Analytics’ next-generation AVM combines unrivaled data assets with a blended ensemble of valuation models to produce highly accurate, reliable valuations you can trust.

Not Available

First American does not have data for the current month. Please view the chart for historical values.

Quantarium

Quantarium Quantarium’s valuation service, repeatedly proven the industry’s most accurate and comprehensive, is supercharged with a self-learning and auto-tuning AI engine that continually becomes smarter and more accurate as it processes daily inputs from the industry’s leading RE data lake.

Not Available

Quantarium does not have data for the current month. Please view the chart for historical values.

Average Value
Not Available
List Price
Sold Price
Create a Home Valuation Report for This Property
The Home Valuation Report is an in-depth analysis detailing your home's value as well as a comparison with similar homes in the area

Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Cullen James Properties Llc -- None Listed On Document
Smith Cullen James $1,400,000 California Title Company
Harlan James R -- None Available
Harlan James R -- Equity Title Company
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Harlan James R $375,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
10/04/2024 10/04/24 Sold $1,400,000 -5.9% $876 / Sq Ft
09/16/2024 09/16/24 Pending -- -- --
08/08/2024 08/08/24 Price Changed $1,488,000 -6.9% $931 / Sq Ft
06/26/2024 06/26/24 Price Changed $1,598,000 -4.6% $1,000 / Sq Ft
06/13/2024 06/13/24 Price Changed $1,675,000 -2.9% $1,048 / Sq Ft
05/20/2024 05/20/24 For Sale $1,725,000 -- $1,079 / Sq Ft
Source: The MLS

Tax History Compared to Growth

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $4,497 $1,400,000 $1,260,000 $140,000
2024 $4,497 $352,186 $222,622 $129,564
2023 $4,417 $345,281 $218,257 $127,024
2022 $4,220 $338,512 $213,978 $124,534
2021 $4,160 $331,876 $209,783 $122,093
2020 $4,199 $328,474 $207,632 $120,842
2019 $4,039 $322,034 $203,561 $118,473
2018 $3,991 $315,720 $199,570 $116,150
2016 $3,808 $303,462 $191,821 $111,641
2015 $3,754 $298,905 $188,940 $109,965
2014 $3,780 $293,050 $185,239 $107,811
Source: Public Records

Agents Affiliated with this Home

  • Section Image
  • Section Image
See All Agents

Map

Source: The MLS

MLS Number: 24-393417

The MLS

APN: 4240-016-034