217 Venice Way Venice, CA 90291

$--

8 Beds
4 Baths
3,362 Sq.Ft.

Off Market

Map preview of 217 Venice Way, Venice, CA 90291

Property Overview: 217 Venice Way Venice, CA has 8 bedrooms, 4 bathrooms, 3,362 living square feet and 5,922 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Home Value Compared to the Market

217 Venice Way is currently an off market home in the city of Venice. If you are considering making a home purchase, the value you pay for your home will depend on the market you're looking to purchase in. The city of Venice has a median list price of $2,495,000. The median price per/sqft for Venice is $1,235. With those numbers in mind, if you are looking to purchase a median priced home in Venice, CA and put 20% down you will need to save up $499,000 for the down payment and will need roughly $49,900 for closing costs on top of the down payment. Homeowners who are looking to sell their home could expect to pay an average of 5% (2.5% to the listing agent and 2.5% to the buyers agent) in agent commissions when it comes to selling their home. With the median sale price for a home in Venice the commission could be as much as $99,750. If you're thinking of selling and want to save, contact a local Ardent Real Estate Agent today.

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Sale History for 217 Venice Way

Last sold on May 8th, 2014

April, 2020
Apr 4, 2020

Date

Expired

CRMLS: 20559418

$3,500,000

Price
Feb 29, 2020

Date

Active

CRMLS: 20559418

$3,500,000

Price
Listing provided courtesy of CRMLS

217-221 Venice Way is an existing 4-plex in Venice Beach (to be delivered vacant). The property is two blocks from the beach, Venice Boardwalk, Venice Canals, Windward Circle, and walking distance to Abbot Kinney. Advantageous to the buyer, the four 2-bedroom units are currently being rented as short term rentals. On August 22nd, 2019 the property received a notice of intent to issue permit from the Coastal Commission. Notice of Intent to Issue Permit from the California Coastal Commission allows for the following and is contingent upon conditions indicated in the Notice of Intent. (see Notice of Intent to Issue Permit):- Demolition of existing 2 story 4 unit apartment building. - Construction of three separate single family homes on three separate lots at approximately 4,700 sf each with basements (2,770 sf above ground). Gross Income it projected property will be delivered vacant.

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April, 2020
Apr 4, 2020

Date

Expired

CRMLS: 20559424

$3,500,000

Price
Feb 29, 2020

Date

Active

CRMLS: 20559424

$3,500,000

Price
Listing provided courtesy of CRMLS

217-221 Venice Way is an existing 4-plex in Venice Beach (to be delivered vacant). The property is two blocks from the beach, Venice Boardwalk, Venice Canals, Windward Circle, and walking distance to Abbot Kinney. The four 2-bedroom units are currently being rented as short term rentals. On August 22nd, 2019 the property received a notice of intent to issue permit from the Coastal Commission. Notice of Intent to Issue Permit from the California Coastal Commission allows for the following and is contingent upon conditions indicated in the Notice of Intent. (see Notice of Intent to Issue Permit):- Demolition of existing 2 story 4 unit apartment building. - Construction of three separate single family homes on three separate lots at approximately 4,700 sf each with basements (2,770 sf above ground). Mello Act Determination (supporting documentation available upon request).

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February, 2020
Feb 29, 2020

Date

Canceled

CRMLS: 20541682

$3,500,000

Price
Jan 8, 2020

Date

Active

CRMLS: 20541682

$3,500,000

Price
Listing provided courtesy of CRMLS

217-221 Venice Way is an existing 4-plex in Venice Beach (to be delivered vacant). The property is two blocks from the beach, Venice Boardwalk, Venice Canals, Windward Circle, and walking distance to Abbot Kinney. The four 2-bedroom units are currently being rented as short term rentals. On August 22nd, 2019 the property received a notice of intent to issue permit from the Coastal Commission. Notice of Intent to Issue Permit from the California Coastal Commission allows for the following and is contingent upon conditions indicated in the Notice of Intent. (see Notice of Intent to Issue Permit):- Demolition of existing 2 story 4 unit apartment building. - Construction of three separate single family homes on three separate lots at approximately 4,700 sf each with basements (2,770 sf above ground). Mello Act Determination (supporting documentation available upon request).

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February, 2020
Feb 29, 2020

Date

Canceled

CRMLS: 20540552

$3,500,000

Price
Jan 8, 2020

Date

Active

CRMLS: 20540552

$3,500,000

Price
Listing provided courtesy of CRMLS

217-221 Venice Way is an existing 4-plex in Venice Beach (to be delivered vacant). The property is two blocks from the beach, Venice Boardwalk, Venice Canals, Windward Circle, and walking distance to Abbot Kinney. The four 2-bedroom units are currently being rented as short term rentals. On August 22nd, 2019 the property received a notice of intent to issue permit from the Coastal Commission. Notice of Intent to Issue Permit from the California Coastal Commission allows for the following and is contingent upon conditions indicated in the Notice of Intent. (see Notice of Intent to Issue Permit):- Demolition of existing 2 story 4 unit apartment building. - Construction of three separate single family homes on three separate lots at approximately 4,700 sf each with basements (2,770 sf above ground). Mello Act Determination (supporting documentation available upon request). Gross Income it projected property will be delivered vacant.

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May, 2014
May 8, 2014

Date

Sold (Public Records)

Public Records

--

Price
March, 2013
Mar 19, 2013

Date

Sold (Public Records)

Public Records

$2,301,000

Price
February, 2013
Feb 3, 2013

Date

Price Change

CRMLS: 13649285

$2,295,000

Price
Listing provided courtesy of CRMLS

Prime location in Venice. Only 2 blocks from the beach. Well maintained income property. Hard-to-find 4 unit building. Each unit is 2BR/1BA. All units tenant occupied on month/month or short term leases. Current rent is SUBSTANTIALLY under market, but current GSI $119K, GMR 19.32, NOI $94K, Cap Rate 4.10%. Future FMV rent would give GSI $174K, GMR 13.19, NOI $139K, Cap Rate 6.06%. Great opportunity for property development as building sits on 3 separate lots (25x79), which have sold for $600k recently. Hot location, hard-to-find property, increasing rental income, future development potential. Your investor clients will love it!

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Tax History for 217 Venice Way

Assessed Value (2020): $2,549,535

Year	Land Value	Improved Value	Assessed Value
2020	$1,780,280	$769,255	$2,549,535

About 217 Venice Way

Detailed summary of property

217 Venice Way is categorized with a use code of Quadruplex (4 Units, Any Combination) in Venice, CA 90291 and is currently off market. This property has 8 bedrooms, 4 bathrooms, roughly 3,362 living square feet, and sits on an approximately 5,922 square foot lot. Homes in Venice are selling for a median price of $1,995,000 and a median price per square foot of $1,123. Local nearby listings include 12908 Rose Ave, 12920 Dewey St and 3449 Moore St. The average home in Venice, CA is selling in 101 days. There are currently 170 homes for sale in the Venice real estate market and 148 of them are single family homes while 12 of them are condos and 10 are townhomes. If you are the homeowner and looking to sell the home at 217 Venice Way Venice, CA 90291 contact Ardent Real Estate Group and we will put you in touch with one of our Venice agents.

Public Facts for 217 Venice Way

Public county record property details

Beds: 8
Baths: 4
Year built: 1947
Sq. Ft.: 3,362
Lot Size: 5,922
Stories: --

Type: Quadruplex (4 Units, Any Combination)
Pool: No
Spa: No
County: Los Angeles
Lot#: 37-39
APN: 4238-021-022

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

$2,495,000

Median List Price/Sq.Ft.

$1,285

Median Sold Price

$1,800,000

Median Sold Price/Sq.Ft.

$1,188

Total Inventory

169

Median Sale to List Price %

90.68%

Avg Days on Market

Loan Type

Conventional (0%), FHA (0%), VA (0%), Cash (0%), Other (23.53%)

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(714) 706-1823

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