12 25th Place 3, Venice, California 90291, Venice, 90291 - bed, bath
ACTIVE$1,710,000
12 25th Place 3, Venice, California 90291
0Bed
0Bath
1,948Sqft
1,080Lot
Price Vs. Estimate
Estimation data not available
Key pros and cons
Top Pros:
Exceptional Coastal Location: The property is situated 'right on the beach' in Venice, an 'A+ neighborhood' and the 'heart of Silicon Beach,' offering high desirability, strong rental demand, and proximity to attractions like Abbot Kinney and Santa Monica Pier.
Top Cons:
Significant Price Discrepancy: The current list price of $1.71M is substantially lower than the last recorded sale price of $3.007M in January 2023, which raises questions about the property's true value, condition, or potential data inconsistencies that require clarification.
Compared to the nearby listings
Price:$1.71M vs avg $1.71M (+$0)50%
Size:1,948 sqft vs avg 2,546 sqft40%
Price/sqft:$878 vs avg $78660%
More Insights
Built in 1913 (112 years old).
Condition: Despite being built in 1913, the listing explicitly states 'All units have been remodeled!' and the images confirm a very recent and extensive renovation. The kitchens feature new white shaker cabinets, modern white countertops, and new stainless steel appliances (refrigerator, gas range, hood), along with new stacked washer/dryer units. Bathrooms are completely updated with new white vanities, modern fixtures, new toilets, and white subway tile surrounds. Throughout the units, there is new light grey wood-look laminate flooring, fresh white paint, and modern flush mount lighting. All visible components appear new or virtually new, meeting current quality standards, making the interior condition excellent.
Year Built
1913
Close
-
List price
$1.71M
Original List price
$1.71M
Price/Sqft
$878
HOA
-
Days on market
-
Sold On
-
MLS number
SB25164022
Home ConditionExcellent
Features
Excellent View:
View-
About this home
4-plex right on the beach currently operating at a 5.47% CAP RATE! 12 25th Pl, Venice is a prime opportunity for any buyer looking to take advantage of residential financing and own in an A+ neighborhood. All units have been remodeled! Ideal for owner-user opportunity or investors looking to capitalize on Venice's historic route. Each unit offers comfortable living spaces and modern amenities, ensuring a desirable rental experience for tenants. Most units are renovated and some units have ocean views! Whether you're looking to expand your investment portfolio or seeking a lucrative income-generating property, this offering stands as a testament to the allure of coastal California living combined with the promise of substantial financial returns. 12 25th Pl is located in the heart of Silicon Beach, an area that has attracted a wide range of technology companies including Facebook, Google, and Snapchat. Residents enjoy the benefits of living in the heart of Venice as the property is close to Abbot Kinney, Santa Monica Pier, and much more. OM in supplements.
Price History
Date
Event
Price
01/30/23
Sold
$3,007,000
Condition Rating
Excellent
Despite being built in 1913, the listing explicitly states 'All units have been remodeled!' and the images confirm a very recent and extensive renovation. The kitchens feature new white shaker cabinets, modern white countertops, and new stainless steel appliances (refrigerator, gas range, hood), along with new stacked washer/dryer units. Bathrooms are completely updated with new white vanities, modern fixtures, new toilets, and white subway tile surrounds. Throughout the units, there is new light grey wood-look laminate flooring, fresh white paint, and modern flush mount lighting. All visible components appear new or virtually new, meeting current quality standards, making the interior condition excellent.
Pros & Cons
Pros
Exceptional Coastal Location: The property is situated 'right on the beach' in Venice, an 'A+ neighborhood' and the 'heart of Silicon Beach,' offering high desirability, strong rental demand, and proximity to attractions like Abbot Kinney and Santa Monica Pier.
Income-Generating Quadruplex: As a 4-plex with a stated 5.47% CAP RATE, this property presents a significant opportunity for investors seeking a lucrative income-generating asset with substantial financial returns.
Remodeled Units & Ocean Views: All units have been remodeled, providing modern amenities and comfortable living spaces, with the added premium of 'some units having ocean views,' enhancing tenant appeal and potential rental income.
Flexible Investment/Owner-User Opportunity: The property is ideal for both investors looking to expand their portfolio and owner-users who wish to reside in one unit while generating income from the others, broadening its market appeal.
Eligibility for Residential Financing: The ability to utilize residential financing for this multi-unit property (4-plex) can simplify the acquisition process and potentially offer more favorable terms compared to commercial loans.
Cons
Significant Price Discrepancy: The current list price of $1.71M is substantially lower than the last recorded sale price of $3.007M in January 2023, which raises questions about the property's true value, condition, or potential data inconsistencies that require clarification.
Historic Building Age: Built in 1913, the property is over a century old. While units are remodeled, the age of the underlying structure may lead to unforeseen maintenance issues or require significant capital expenditures for major systems in the future.
Limited Lot Size & Potential Parking Issues: The small lot size of 1080 sqft for a 4-plex suggests minimal outdoor space and likely a lack of dedicated parking, which can be a significant drawback for tenants and owner-users in a dense coastal area like Venice.