1821 Penmar Avenue, Venice, California 90291, Venice, 90291 - 1 bed, 2 bath

1821 Penmar Avenue, Venice, California 90291 home-pic-0
ACTIVE$1,429,000
1821 Penmar Avenue, Venice, California 90291
1Bed
2Baths
994Sqft
1,036Lot

Price Vs. Estimate

The estimated value ($1,429,000) is $0 (0%) lower than the list price ($1,429,000). This property may be overpriced.

Key pros and cons

Top Pros:
New Construction & Luxury Finishes: Built in 2023, this property offers the prestige of being the first resident, featuring a gourmet kitchen with Subzero/Wolf appliances, European oak floors, designer Kelly Wearstler tile, and a spa-like primary bath with high-end materials.
Top Cons:
Limited Bedroom Count & Small Square Footage: With only one bedroom and approximately 994 sq ft (including the flex space), the property's size and bedroom count significantly narrow its appeal to a broader market for a single-family residence.

Compared to the nearby listings

Price:$1.43M vs avg $2.28M ($-853,500)3%
Size:994 sqft vs avg 1,818 sqft14%
Price/sqft:$1.4K vs avg $1.3K68%

More Insights

Built in 2023 (2 years old).
Condition: This property was built in 2023, making it brand new and the first resident will be its inaugural occupant. The description highlights 'newly constructed' and 'brand-new reimagined Venice bungalow.' It features high-end, 'restaurant quality' Subzero and Wolf appliances in the kitchen, European oak floors throughout, designer Kelly Wearstler tile in the powder room, and a spa-like primary bath with flamed granite, honed marble, and a Toto Neorest toilet. Advanced systems like Cat6 wiring, Control4 home automation, and architectural in-wall speakers are also included. The images confirm a pristine, modern aesthetic with top-tier finishes and no signs of wear or deferred maintenance, perfectly aligning with the 'excellent' condition criteria.
Year Built
2023
Close
-
List price
$1.43M
Original List price
$1.43M
Price/Sqft
$1,438
HOA
$401
Days on market
-
Sold On
-
MLS number
25558285
Home ConditionExcellent
Features
Patio
ViewCourtyard

About this home

Newly constructed single-family 1 bedroom and 1.5 bath home situated in historic Venice bungalow courtyard. Rare opportunity to be the first resident in a brand-new reimagined Venice bungalow. Approximately 1000 square ft open floorplan spread over two floors. Skylit interiors with European oak floors throughout. A true gourmet kitchen with a generous center island and restaurant quality Subzero fridge and Wolf convection range and oven. First floor powder room featuring Kelly Wearstler tile. Upstairs features a large primary suite with generous vaulted ceilings and spa-like primary bath with flamed granite floors, honed marble showers and a Toto Neorest toilet. The home was built to showcase the comfort, security and entertainment of some of the world's finest hotels. Includes Cat6 wiring, Control4 home automation and architectural inwall speakers throughout the home. The homes are situated in a secure and gated historic Venice courtyard with tranquil fountains and California native landscaping. House includes versatile detached flex space. Approximately 200 sq ft with 12-foot ceilings and operable skylights that could function as a remote workspace, creative studio, gym or parking. Locations convenient to Abbot Kinney, Rose, the Venice boardwalk, Marina Del Rey and countless world class restaurants, bars and shopping. (Photos may be of similar unit). Square footage includes garage/flex space totaling roughly 195 square feet.

Condition Rating
Excellent

This property was built in 2023, making it brand new and the first resident will be its inaugural occupant. The description highlights 'newly constructed' and 'brand-new reimagined Venice bungalow.' It features high-end, 'restaurant quality' Subzero and Wolf appliances in the kitchen, European oak floors throughout, designer Kelly Wearstler tile in the powder room, and a spa-like primary bath with flamed granite, honed marble, and a Toto Neorest toilet. Advanced systems like Cat6 wiring, Control4 home automation, and architectural in-wall speakers are also included. The images confirm a pristine, modern aesthetic with top-tier finishes and no signs of wear or deferred maintenance, perfectly aligning with the 'excellent' condition criteria.
Pros & Cons

Pros

New Construction & Luxury Finishes: Built in 2023, this property offers the prestige of being the first resident, featuring a gourmet kitchen with Subzero/Wolf appliances, European oak floors, designer Kelly Wearstler tile, and a spa-like primary bath with high-end materials.
Prime Venice Location: Strategically located in a historic Venice bungalow courtyard, providing convenient access to iconic destinations such as Abbot Kinney, Rose Avenue, the Venice boardwalk, Marina Del Rey, and a plethora of world-class dining and shopping options.
Advanced Smart Home Technology: Equipped with modern technological infrastructure including Cat6 wiring, Control4 home automation, and architectural in-wall speakers throughout, designed for comfort, security, and entertainment.
Versatile Detached Flex Space: A valuable 200 sq ft detached flex space with 12-foot ceilings and operable skylights offers adaptable use as a remote workspace, creative studio, gym, or additional parking, enhancing functionality.
Secure & Serene Courtyard Setting: The home is situated within a secure, gated historic Venice courtyard, featuring tranquil fountains and California native landscaping, providing a peaceful and private living environment.

Cons

Limited Bedroom Count & Small Square Footage: With only one bedroom and approximately 994 sq ft (including the flex space), the property's size and bedroom count significantly narrow its appeal to a broader market for a single-family residence.
High Price Point for Size: The list price of $1.429 million is substantial for a 1-bedroom property of this square footage, potentially limiting the pool of prospective buyers despite its luxury appointments and desirable location.
Small Lot Size & HOA Fees: The very small lot size of 1036 sq ft offers minimal private outdoor space, and the presence of a $401 monthly association fee for a single-family home adds an unusual and significant ongoing cost of ownership.

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