718 Vernon Avenue

Venice, CA 90291

$2,799,999
Price
4
Beds
5
Baths
2,055 Sq. Ft.
$1,363 / Sq. Ft.
2,055
Sq. Ft.
$1,363
per Sq. Ft.

Description

Experience the true essence of Venice Beach living with this exceptional Triplex (delivered vacant & furnished). 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. One of the standout features is the fully assumable loan of nearly $1.3M at an incredible 3.25% interest rate, providing unparalleled value in today's market. Whether you're an investor seeking a profitable venture...Experience the true essence of Venice Beach living with this exceptional Triplex (delivered vacant & furnished). 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. One of the standout features is the fully assumable loan of nearly $1.3M at an incredible 3.25% interest rate, providing unparalleled value in today's market. 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 (with WFH office or 3rd bedroom) 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.
  1. Listed by Frankie Levangie • DRE #02063464 • Brokerage DRE #01464847 • Coldwell Banker Realty

Property Details for 718 Vernon Avenue

Water Front
None
Zoning
LARD1.5
Parcel Number
4239004004
Total Units
3.0
Living Area
2055
Source Living Area
Assessor
Area
Venice (C11)
Vacancy Rate
3
LISTING UPDATED: 11/03/2024 12:06 PM

Property Details for 718 Vernon Avenue

StatusActive
MLS #24-436235
Days on Market78
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1922
Lot Size0.11 AC / 4,802 SF
CountyLos Angeles County

Building Information for 718 Vernon Avenue

Stories-Residences-Year Built1922Building Size-Lot Size0.11 AC / 4,802 SF

Property Information for 718 Vernon Avenue

Community / Development
Community / Development
  • Tax Mello Roos: No
  • Number Of Units: 3
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Assessor
  • Number Of Stories: 0
  • Number Of Buildings: 2
  • Type Of Units: 1
  • View: No
  • View Description: None
  • View: None
  • Security Features: None
  • Property Condition: Updated/Remodeled
  • Water: Public
  • Water Heaters: Yes
Contract Info
Contract Info
  • Probate: No
  • Disclosures: As Is
  • Listing Type: Exclusive Agency
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Actual
  • Gross Operating Income: $180,000
  • Net Operating Income: $.00
  • Gross Income: $180,000
  • Gross Rent Multiplier: $.00
  • Total Annual Expense: 0
Land / Lot Info
Land / Lot Info
  • Lot Acreage: 0.1102
  • Lot Size Square Feet: 4802
Parking Details
Parking Details
  • Parking Garage: Parking Space
  • Total Parking: 1
  • Parking Features: Parking Space
Interior Features
Interior Features
  • Levels: Ground Level
  • Fireplace Features: Gas
  • Fireplace Rooms: Gas
  • Cooling Type: Ceiling Fan
  • Heating: Wall Furnace
  • Heating Type: Wall
  • Flooring: Cement
  • Equipment: Dishwasher, Ceiling Fan, Gas Dryer Hookup, Garbage Disposal, Dryer, Washer, Refrigerator, Range/Oven
  • Interior Features: Ceiling Fan(s)
  • Room Bathroom Features: Shower in Tub, Shower
  • Bathroom Features: Shower and Tub, Shower Stall
  • Laundry: Laundry Area
Exterior Features
Exterior Features
  • Spa: Yes
  • Spa: Hot Tub, Heated with Gas
  • Sprinklers: Sprinkler System, Sprinkler Timer
  • Patio Features: Porch
  • New Construction: No
  • Exterior Construction: Hard Coat
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 09-05-2024
Unit Details
Unit 1 Information
  • Unit Beds: 2
  • Unit Baths: 3
  • Unit Furnished: Yes
  • Unit Rent: $7,500.00
  • Unit Actual Rent: $7,500.00
  • Unit Projected Rent: $7,500.00
  • Like Units: 1
Unit 2 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: Yes
  • Unit Rent: $4,250.00
  • Unit Actual Rent: $4,250.00
  • Unit Projected Rent: $4,250.00
  • Like Units: 1
Unit 3 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: Yes
  • Unit Rent: $3,250.00
  • Unit Actual Rent: $3,250.00
  • Unit Projected Rent: $3,250.00
  • Like Units: 1
Unit Details
  • Unit Type Type: 2106, 2107, 2108
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $321,660.00
  • Assessed Improvement Percent: 17.63
  • Assessed Land Value: $1,502,824.00
  • Assessed Land Percent: 82.37
  • Assessed Total Value: $1,824,484.00

Property History for 718 Vernon Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 718 Vernon Avenue

Taxable ValueLand$1,563,537Additions$334,914Total$1,898,451
Tax Record2024$23,122 ($1,927 / month)
Home Facts
Total Finished SqFt2,055 SqFtAbove Grade Finished SqFt2,055 SqFtLot Size4,802 SqFtStyleTriplexYear Built1922ZoningLARD1.5CountyLOS ANGELESAPN4239-004-004

Schools near 718 Vernon Avenue

This home is within Los Angeles Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - K to 5
Public - K to 5
Public - 6 to 8
Rating
School
Distance
Westminster Avenue Elementary School
PublicK to 5

Walgrove Avenue Elementary School
PublicK to 5

Broadway Elementary School
PublicK to 5

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

Similar Homes

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718 Vernon Avenue is a multi-family home for sale in Venice, CA 90291. This property was listed for sale on September 5, 2024 by Coldwell Banker Realty, it's currently listed at $2,799,999. It has been on the market for a total of 78 days and was last sold on August 31, 2017. This listing's school district is Los Angeles Unified School District. Nearby schools include Westminster Avenue Elementary School, Walgrove Avenue Elementary School and Broadway Elementary School. 718 Vernon Avenue is a 4-bed, 5-bath, 2,055 sqft multi-family home built in 1922.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Coldwell Banker Realty, Frankie Levangie, DRE #02063464

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.