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718 Vernon Ave, Venice, CA 90291
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718 Vernon Ave Venice, CA 90291

$3,195,000
  • 4 Beds
  • 5 Baths
  • 2,055 Sq.Ft.
For Sale
$3,195,000 Get Pre-Qualified
Map preview of 718 Vernon Ave, Venice, CA 90291

Property Overview: 718 Vernon Ave Venice, CA has 4 bedrooms, 5 bathrooms, 2,055 living square feet and 4,802 square feet lot size. Call an Ardent Real Estate Group agent to verify current availability of this home or with any questions you may have.

Agent Remarks: Experience the true essence of Venice Beach living with this exceptional Triplex. Its alluring features, including private hot tubs, a serene communal garden, and a prime location, culminate in a coastal haven that harmoniously blends lifestyle and income. Whether you're an investor seeking a profitable venture or a homeowner seeking a retreat to call your own, this property is an opportunity that cannot be overlooked. This Triplex is a turn-key long or short term rental, ensuring it's ready for seamless occupancy and an immediate revenue stream (will be delivered vacant). Boasting two separate structures, each finely furnished with custom-built furniture, this property features three units that are fully equipped with a 2bed +3bath main owners unit & (2) 1+1 rental units with an oasis of comfort, style, and convenience. This magical outdoor haven features a custom 100ft long pergola adorned with a graceful canopy and an enchanting communal garden area. As an income-generating gem, this Triplex has the potential to yield an impressive monthly income or perfect for family & friends compound. The thriving rental market in Venice Beach and the property's alluring features and prime location make this investment worthwhile.

Listed by Frankie Levangie | BRE #02063464 | Coldwell Banker Realty
Last checked: 13 minutes ago | Last updated: April 16th, 2024 | Source CRMLS | DOM: 10
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Home details

Lot Sq. Ft
4,802
HOA Dues
$0/mo
Year built
1922
Garage
--
Property Type:
Multi Family
Status
Active
MLS#
24374997
City
Venice
County
Los Angeles
Time on Site
9 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 3
  • Total # of Buildings: 2
Unit Breakdown 1
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 3
  • Furnishing: Furnished
  • Actual Rent: $7,500
  • Total Rent: $0
  • Pro Forma/Market Rent: $7,500
Unit Breakdown 2
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Furnished
  • Actual Rent: $3,250
  • Total Rent: $0
  • Pro Forma/Market Rent: $3,250
Unit Breakdown 3
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Furnished
  • Actual Rent: $4,250
  • Total Rent: $0
  • Pro Forma/Market Rent: $4,250
Multi-Family Income/Expense Information
Property Income and Analysis
  • Gross Rent Multiplier: 0
  • Gross Scheduled Income: --
  • Net Operating Income: $0
  • Gross Operating Income: $180,000
Annual Expense Breakdown
  • Total Operating Expense: --

Open Houses for 718 Vernon Ave

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Property Details for 718 Vernon Ave

Interior Features
Heating Information
  • Has Heating
  • Wall Furnace
Laundry Information
  • Has Laundry
  • Washer Included, Dryer Included
Fireplace Information
  • Has Fireplace
  • Gas
Kitchen Information
  • Has Appliances
  • Dishwasher, Disposal, Refrigerator
Interior Features
  • Ceiling Fan(s)
Exterior Features
Exterior Information
  • Has Spa
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Parking Spaces: 1
  • Has Parking
  • Parking Features: Parking Space
Lot Information
  • Lot Size Source: Assessor
Property Information
  • No View
  • View: None
  • Total # of Units: 3
  • Parcel Number: 4239004004
  • Year Built Source: Assessor
  • Property Condition: Updated/Remodeled
Homeowners Association, Utilities, Taxes / Assessments
Homeowners Association
  • Is Not Part of Association
Assessment Information
  • No Assessments
Location / Neighborhood
Location Information
  • Directions: 718 Vernon Ave is between 7th Avenue and Lincoln Blvd, West of Lincoln Blvd.
View more facts & features

Local Venice Agent

Sale History for 718 Vernon Ave

Last sold for $1,702,000 on August 31st, 2017

  • April, 2024

  • Apr 8, 2024

    Date

    Active

    CRMLS: 24374997

    $3,195,000

    Price

  • February, 2024

  • Feb 1, 2024

    Date

    Expired

    CRMLS: 23296531

    $2,895,000

    Price

  • Aug 1, 2023

    Date

    Active

    CRMLS: 23296531

    $3,195,000

    Price

  • Listing provided courtesy of CRMLS

    Experience the true essence of Venice Beach living with this exceptional Triplex. Its alluring features, including private hot tubs, a serene communal garden, and a prime location, culminate in a coastal haven that harmoniously blends lifestyle and income. Whether you're an investor seeking a profitable venture or a homeowner seeking a retreat to call your own, this property is an opportunity that cannot be overlooked. This Triplex is a turn-key Airbnb short-term rental, ensuring it's ready for seamless occupancy and an immediate revenue stream (can be delivered vacant or with income). Boasting two separate structures, each finely furnished with custom-built furniture, this property features three units with two bonus spaces (all 1+1) that are fully equipped - an oasis of comfort, style, and convenience. This magical outdoor haven features a custom 100ft long pergola adorned with a graceful canopy and an enchanting communal garden area. As an income-generating gem, this Triplex has the potential to yield an impressive monthly income of $17,500. The thriving rental market in Venice Beach and the property's alluring features and prime location make this investment worthwhile.

  • July, 2023

  • Jul 17, 2023

    Date

    Expired

    CRMLS: 23232091

    $3,295,000

    Price

  • Feb 3, 2023

    Date

    Active

    CRMLS: 23232091

    $3,425,000

    Price

  • Listing provided courtesy of CRMLS

    Triplex being operated as 5-Unit Venice Beach Income Property with Private Hot Tubs, Communal Garden, and Prime Location Near Abbott Kinney and the Beach. Experience the best of Venice Beach living with this income-generating property that can be delivered vacant or with income! This turn-key airbnb short-term rental boasts two separate structures, meticulously furnished with custom built furniture, each featuring 1 bed & 1 bath. The front units offer a luxurious touch with private hot tubs & private patios. Enjoy the beautiful communal garden area with jasmine plants, a custom 100ft long pergola with canopy, a water fountain, and a relaxing seating area. Conveniently located near popular restaurants and coffee shops on Rose Blvd, and just a short distance from the beach, this property offers the perfect blend of income and lifestyle. Don't miss out on this opportunity! A great buy for cash flow or owner occupy. Property income $17,680/month!

  • September, 2017

  • Sep 1, 2017

    Date

    Sold

    CRMLS: 17195358

    $1,701,625

    Price

  • May 16, 2017

    Date

    Pending

    CRMLS: 17195358

    $1,735,000

    Price

  • May 2, 2017

    Date

    Active

    CRMLS: 17195358

    $1,735,000

    Price

  • Apr 24, 2017

    Date

    Price Change

    CRMLS: 17195358

    $1,735,000

    Price

  • Mar 28, 2017

    Date

    Pending

    CRMLS: 17195358

    $1,680,000

    Price

  • Jan 26, 2017

    Date

    Active

    CRMLS: 17195358

    $1,680,000

    Price

  • Listing provided courtesy of CRMLS

    Triplex in the Heart of Venice, configured as a Fourplex. Property has a converted garage being used as an Artist's Studio. Parking is on two on site driveways. Property belongs to a local Venice Artist since 2002, it is in good condition and meticulously decorated. Property will be delivered VACANT by COE. Ideal for owner user, benefit from current high rental rates from day one! Within walking distance to Wholefoods, Rose Ave stores and restaurants. Best deal in Venice. All offers will be considered.

  • August, 2017

  • Aug 31, 2017

    Date

    Sold (Public Records)

    Public Records

    $1,702,000

    Price

  • September, 2002

  • Sep 24, 2002

    Date

    Sold (Public Records)

    Public Records

    $565,000

    Price

Show More

Tax History for 718 Vernon Ave

Assessed Value (2020): $1,770,630
Year Land Value Improved Value Assessed Value
2020 $1,458,250 $312,380 $1,770,630

Home Value Compared to the Market

This property vs the competition

718 Vernon Ave is listed 22.93% higher than the median list price for the city of Venice which has a median list price of $2,599,000. The median price per/sqft for Venice is $1,264 and this home is listed at $1554.74 per/sqft which puts the price per square foot 23% higher than the median price per square foot for the city of Venice.

About 718 Vernon Ave

Detailed summary of property

718 Vernon Ave is a multi family located in Venice, CA 90291 and is currently for sale. This multi family property offers 4 bedrooms, 5 bathrooms, roughly 2,055 living square feet, and sits on an approximately 4,802 square foot lot. 718 Vernon Ave was first listed on ArdentRealEstateGroup.com on April 9, 2024. The homeowner is currently asking $3,195,000. The median priced home in Venice is $2,599,000 with a median price per square foot of $1,264. Based on Ardent Real Estate Group's Venice Market Data, this home is listed 22.93% higher than the median priced home. Local competing homes currently for sale include 3631 Motor Ave, 10634 Holman Ave and 1556 S Beverly Glen Blvd. While the average home in Venice, CA is selling in 106 days, 718 Vernon Ave has a days on market of 10 days. There are currently 141 homes for sale in the Venice real estate market and 127 of them are single family homes while 10 of them are condos and 4 are townhomes. For more information on this home for sale at 718 Vernon Ave Venice, CA 90291 contact Ardent Real Estate Group and we will put you in touch with one of our Venice agents.

Public Facts for 718 Vernon Ave

Public county record property details
Beds
4
Baths
4
Year built
1922
Sq. Ft.
2,055
Lot Size
4,802
Stories
--
Type
Triplex (3 Units, Any Combination)
Pool
No
Spa
No
County
Los Angeles
Lot#
4
APN
4239-004-004

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
$2,595,000
Median List Price/Sq.Ft.
$1,264
Median Sold Price
$2,302,000
Median Sold Price/Sq.Ft.
$1,423
Total Inventory
137
Median Sale to List Price %
92.26%
Avg Days on Market
77
Loan Type
Conventional (11.11%), FHA (0%), VA (0%), Cash (0%), Other (33.33%)

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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.

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