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1136 Marco Place, Venice, California 90291, Venice, 90291 - 4 bed, 4 bath

1136 Marco Place, Venice, California 90291 home-pic-0
ACTIVE$1,699,999
1136 Marco Place, Venice, California 90291
4Beds
4Baths
1,870Sqft
4,364Lot

Price Vs. Estimate

Estimation data not available

Key pros and cons

Top Pros:
Significant Vacancy Upside: Three out of four units will be delivered vacant, offering immediate opportunity for market-rate rent adjustments or owner-occupancy, maximizing investment returns.
Top Cons:
Property Age: Built in 1949, the property's age, despite recent upgrades, may still present potential for unforeseen maintenance or system replacements beyond the scope of current renovations.

Compared to the nearby listings

Price:$1.70M vs avg $1.70M (+$0)50%
Size:1,870 sqft vs avg 2,546 sqft40%
Price/sqft:$909 vs avg $78680%

More Insights

Built in 1949 (76 years old).
Condition: Built in 1949, this quadruplex has received important structural updates like a new roof and 90% updated plumbing. However, the interior images, particularly of the kitchens and bathrooms, show significantly outdated styles and features (e.g., white tile countertops, basic vanities, older tile patterns, and wall heaters instead of central HVAC). While functional and well-maintained, the units require substantial cosmetic updates to meet current aesthetic and comfort standards, aligning with a 'fair' condition.
Year Built
1949
Close
-
List price
$1.7M
Original List price
$1.76M
Price/Sqft
$909
HOA
-
Days on market
-
Sold On
-
MLS number
SB25163964
Home ConditionFair
Features
Good View:
Patio
View

About this home

3 out of 4 Units will be VACANT! Charming 4-Unit Investment Opportunity in Prime Venice Location Built in 1949, this well-maintained 4-unit apartment building sits on a 4,364 sq ft lot and offers a total of 1,870 sq ft of living space. Each unit is a 1-bedroom, 1-bath, ideally situated on a quiet, tree-lined street in one of Venice’s most sought-after residential neighborhoods. Presenting immediate upside for investors or owner-users. Recent upgrades include a new roof, approximately 90% updated plumbing, and a shared laundry room. The property also boasts two private backyards, two single-car garages with ADU potential, and three additional off-street parking spaces—a rare convenience in Venice. Located just down the street from Penmar Golf Course and moments from popular cafes, restaurants, fitness studios, and top-rated schools. This high-demand location supports strong, consistent rental income and long-term appreciation potential.

Condition Rating
Fair
Built in 1949, this quadruplex has received important structural updates like a new roof and 90% updated plumbing. However, the interior images, particularly of the kitchens and bathrooms, show significantly outdated styles and features (e.g., white tile countertops, basic vanities, older tile patterns, and wall heaters instead of central HVAC). While functional and well-maintained, the units require substantial cosmetic updates to meet current aesthetic and comfort standards, aligning with a 'fair' condition.
Pros & Cons

Pros

Significant Vacancy Upside: Three out of four units will be delivered vacant, offering immediate opportunity for market-rate rent adjustments or owner-occupancy, maximizing investment returns.
Prime Venice Location: Situated on a quiet, tree-lined street in a highly sought-after Venice neighborhood, providing strong rental demand and long-term appreciation potential due to proximity to amenities and attractions.
ADU Potential & Abundant Parking: Features two single-car garages with ADU conversion potential and three additional off-street parking spaces, a rare and highly valuable amenity in Venice.
Key System Upgrades: Recent capital improvements include a new roof and approximately 90% updated plumbing, significantly reducing immediate maintenance concerns for a new owner.
Income-Generating Amenities: Includes two private backyards and a shared laundry room, enhancing tenant appeal and potentially supporting higher rental rates.

Cons

Property Age: Built in 1949, the property's age, despite recent upgrades, may still present potential for unforeseen maintenance or system replacements beyond the scope of current renovations.
Limited Unit Size: All units are 1-bedroom, 1-bath, which may limit the target tenant demographic and potentially restrict rental income growth compared to properties with a mix of larger units.
Recent Price Reduction: The property has seen a recent price reduction from its original listing, which could indicate a slower market response or that the initial pricing was above market expectations.

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