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2011 Ocean Front Walk Venice, CA 90291

$3,875,000 Sold Price as of 12/17/2019

2 Beds
2 Baths
-- Sq.Ft.

Sold

$3,875,000 Sold Price as of 12/17/2019 Refinance Your Mortgage

Map preview of 2011 Ocean Front Walk, Venice, CA 90291

Property Overview: 2011 Ocean Front Walk Venice, CA has 2 bedrooms, 2 bathrooms, -- living square feet and 2,520 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: A truly unique opportunity to own a Venice landmark, on the world-famous Venice Beach boardwalk. Irreplaceable mixed-use restaurant and residential building on the southern end of the boardwalk commercial zone located right by the parking lot, paddle tennis courts, and muscle beach. Currently operated as Jody Maroni's Sausage Kingdom and the well-known poke restaurant, Poke-Poke, this property is in one of the most highly concentrated foot traffic areas of Ocean Front Walk. The restaurant encompasses the entire first floor and includes a full kitchen with two walk-ins and ample dry storage. The upstairs offers a panoramic ocean view residence comprised of 2 bedrooms and 2 bathrooms perfect for rental income. 3 parking spaces are located behind the building. This is a once in a life time chance that you do not want to miss out on!

Listed by David Solomon | BRE #01386406 | The Agency
Co-listed by Anna Solomon | BRE #00850601 | The Agency

Last checked: 9 minutes ago | Last updated: March 22nd, 2022 | Source CRMLS | DOM: 103

Home details

Lot Sq. Ft: 2,520
HOA Dues: $0/mo
Year built: 1959
Garage: --
Property Type:: Multi Family

Status: Sold
MLS#: 19490684
City: Venice
County: Los Angeles
Time on Site: 1386 days

Multi-Family Unit Breakdown

Unit Mix Summary

Total # of Units: 2
Total # of Buildings: 1

Unit Breakdown 1

# of Units: 1
# of Beds: 2
# of Baths: 2
Furnishing: Unfurnished
Actual Rent: $9,000
Total Rent: $108,000
Pro Forma/Market Rent: $108,000

Unit Breakdown 2

# of Units: 2
# of Beds: 0
# of Baths: 0
Furnishing: Unfurnished
Actual Rent: $10,000
Total Rent: $120,000
Pro Forma/Market Rent: $120,000

Multi-Family Income/Expense Information

Property Income and Analysis

Gross Rent Multiplier: 19.74
Gross Scheduled Income: --
Net Operating Income: $187,670
Gross Operating Income: $228,000

Annual Expense Breakdown

Total Operating Expense: --

Property Details for 2011 Ocean Front Walk

Interior Features

Cooling Information

Has Cooling
Central Air

Heating Information

Has Heating
Central

Lot Details / Garage and Parking

Parking/Garage Information

Has Parking
Parking Features: Guest, Parking Space, Private, Side by Side, Uncovered

Property Information

Total # of Units: 2
Parcel Number: 4226013004

Location / Neighborhood

Location Information

Directions: North Of Venice West of Pacific South Of Winward

View more facts & features

Local Venice Agent

Sale History for 2011 Ocean Front Walk

Last sold on May 8th, 2020

May, 2020
May 8, 2020

Date

Sold (Public Records)

Public Records

--

Price
December, 2019
Dec 24, 2019

Date

Sold

CRMLS: 19490684

$3,875,000

Price
Oct 30, 2019

Date

Active Under Contract

CRMLS: 19490684

$3,990,000

Price
Jul 19, 2019

Date

Active

CRMLS: 19490684

$3,990,000

Price
December, 2019
Dec 17, 2019

Date

Sold (Public Records)

Public Records

$3,875,000

Price
July, 2019
Jul 19, 2019

Date

Canceled

CRMLS: 19451484

$4,500,000

Price
Apr 4, 2019

Date

Active

CRMLS: 19451484

$4,500,000

Price
Listing provided courtesy of CRMLS

Once in a generation opportunity to own an irreplaceable mixed-use restaurant & residential bldg across the street from the busiest parking lot onVenice beach & near the paddle tennis courts. An investor can operate the building at a 4.17% return; or an owner-user to occupy the restaurant space and/or the residential above. The ground-floor features two restaurants - Jody Maroni's Sausage Kingdom, a staple in Venice Beach since 1979, and well-known poke restaurant, Poke-Poke. The upstairs residential unit features 2bd/2ba, an unobstructed view of the beach, and is located directly above the restaurant space. There are 3 parking spaces at the rear of the building. Both restaurants are owned & operated by the Seller, who is willing to lease the space at $10,000/month NNN. The apt will be delivered vacant & has a pro forma rent of 9,000/month as an Airbnb rental. Possibly add value to the restaurant by obtaining a beer & wine license by converting a freezer into two handicapped bathroom

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January, 2018
Jan 16, 2018

Date

Expired

CRMLS: 17269236

$3,900,000

Price
Sep 11, 2017

Date

Active

CRMLS: 17269236

$3,900,000

Price
Listing provided courtesy of CRMLS

A truly unique opportunity to own a Venice landmark on the world-famous Venice Beach Boardwalk. Currently operated as a Jodi Maroni's Sausage Kingdom, this property is in one of the most highly concentrated foot traffic areas of Ocean Front Walk. The restaurant encompasses the entire first floor and includes a full kitchen with two walk ins and ample dry storage. The upstairs offers a quiet residence comprised of 2 bedrooms and 2 bathrooms with stunning ocean views. The space is currently owner occupied. This is a once in a life time opportunity that you do not want to miss out on!

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September, 2017
Sep 11, 2017

Date

Canceled

CRMLS: 17248070

$4,500,000

Price
Jul 18, 2017

Date

Price Change

CRMLS: 17248070

$4,500,000

Price
Jul 11, 2017

Date

Active

CRMLS: 17248070

$4,800,000

Price
Listing provided courtesy of CRMLS

A truly unique opportunity to own a Venice landmark on the world-famous Venice Beach Boardwalk. Currently operated as a Jodi Maroni's Sausage Kingdom, this property is in one of the most highly concentrated foot traffic areas of Ocean Front Walk. The restaurant encompasses the entire first floor and includes a full kitchen with two walk ins and ample dry storage. The upstairs offers a quiet residence comprised of 2 bedrooms and 2 bathrooms with stunning ocean views. The space is currently owner occupied. This is a once in a life time opportunity that you do not want to miss out on!

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Tax History for 2011 Ocean Front Walk

Assessed Value (2020): $2,715,629

Year	Land Value	Improved Value	Assessed Value
2020	$2,120,104	$595,525	$2,715,629

Home Value Compared to the Market

This property vs the competition

2011 Ocean Front Walk sold on December 17, 2019 for 73.33% higher than the current median sold price for the city of Venice which is $2,302,000.

About 2011 Ocean Front Walk

Detailed summary of property

2011 Ocean Front Walk is a multi family that recently sold in Venice, CA 90291. This multi family property offered 2 bedrooms, 2 bathrooms, roughly -- living square feet, and sits on an approximately 2,520 square foot lot. 2011 Ocean Front Walk was first listed on ArdentRealEstateGroup.com on July 11, 2020. The homeowner sold the property for $3,875,000. Home in Venice are selling for a median price of $2,302,000 and a median price per square foot of $1,155. Based on Ardent Real Estate Group's Venice Market Data, this home is sold 73.33% higher than the current median priced home. Local homes that are currently for sale include 3610 Westwood Blvd, 3344 Keystone Ave and 10786 Missouri Ave. While the average home in Venice, CA is selling in 97 days, 2011 Ocean Front Walk has a days on market of 103 days. There are currently 154 homes for sale in the Venice real estate market and 139 of them are single family homes while 11 of them are condos and 4 are townhomes. For more information on this home for sale at 2011 Ocean Front Walk Venice, CA 90291 contact Ardent Real Estate Group and we will put you in touch with one of our Venice agents.

Public Facts for 2011 Ocean Front Walk

Public county record property details

Beds: --
Baths: --
Year built: 1959
Sq. Ft.: 2,248
Lot Size: 2,520
Stories: 1

Type: Commercial/Office/Residential (Mixed Use)
Pool: No
Spa: No
County: Los Angeles
Lot#: 4
APN: 4226-013-004

The source for these homes facts are from public records.

90291 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends

Median List Price

$2,599,000

Median List Price/Sq.Ft.

$1,308

Median Sold Price

$2,302,000

Median Sold Price/Sq.Ft.

$1,423

Total Inventory

139

Median Sale to List Price %

92.26%

Avg Days on Market

Loan Type

Conventional (11.11%), FHA (0%), VA (0%), Cash (0%), Other (33.33%)

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(714) 706-1823

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Based on information from California Regional Multiple Listing Service, Inc. as of 2019. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.