2616 Abbot Kinney Boulevard, Venice, California 90291, Venice, 90291 - 2 bed, 2 bath

2616 Abbot Kinney Boulevard, Venice, California 90291 home-pic-0
ACTIVE$1,999,999
2616 Abbot Kinney Boulevard, Venice, California 90291
2Beds
2Baths
1,283Sqft
4,593Lot
Year Built
1914
Close
-
List price
$2M
Original List price
$2M
Price/Sqft
$1,559
HOA
-
Days on market
-
Sold On
-
MLS number
25479943
Home ConditionExcellent
Features
Good View:
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About this home

Possibly Over-Priced:The estimated price is 12% below the list price. We found 3 Cons,5 Pros. Rank: price - $2.00M(33th), sqft - 1283(27th), beds - 2(29th), baths - 2(37th).

Welcome to this exquisitely remodeled bungalow on the iconic Abbot Kinney Blvd, where modern luxury meets coastal charm. This 2-bedroom, 2-bathroom gem offers 1,283 sqft of meticulously upgraded living space. Every inch of this home was reimagined in 2023, featuring a brand-new kitchen, completely renovated bathrooms, an additional bathroom, new landscaping, exterior enhancements, updated electrical and plumbing systems, a new HVAC, and a new roof. The inviting interior boasts a stylish decorative fireplace, providing a cozy focal point for the living area. Outside, the property includes not only a backyard but also a 60 ft front yard and three private, coveted parking spaces. Also ideal for investors and developers, this property includes possible RTI plans for an impressive modern 3-story home. The future build promises 6,470 sqft of luxury living, with 5 bedrooms, 6.5 bathrooms, and an attached 1,200 sqft ADU. The ADU features 1 bedroom, 2 bathrooms, an office, and its own separate address. Situated close to Abbot Kinney's shops and renowned restaurants, this property offers diversity to own, live/work, or develop a multi-family residence in the center of Venice's vibrant lifestyle. Don't miss out on this exceptional property! The property is tenant occupied.

Price History

Date
Event
Price
12/16/19
Sold
$1,226,000
Condition Rating
Excellent

This property underwent an extensive, top-to-bottom renovation in 2023, as explicitly stated in the description. This includes a brand-new kitchen with modern appliances, completely renovated bathrooms with contemporary finishes and fixtures (as seen in images with sleek tiling and gold hardware), new electrical, plumbing, HVAC, and roof. The interior features new wood-look flooring and recessed lighting throughout, indicating a virtually new condition with no deferred maintenance.
Pros & Cons

Pros

Prime Location: Situated directly on the iconic Abbot Kinney Boulevard, offering unparalleled access to Venice's vibrant shops, renowned restaurants, and coastal lifestyle.
Extensive Recent Renovation: The property underwent a meticulous reimagining in 2023, including a brand-new kitchen, renovated bathrooms, updated electrical, plumbing, HVAC, roof, and landscaping, ensuring modern luxury and low immediate maintenance.
Significant Development Potential: Includes possible RTI (Ready-To-Issue) plans for an impressive 6,470 sqft, 3-story modern home with 5 bedrooms, 6.5 bathrooms, and an attached 1,200 sqft ADU, offering substantial upside for investors or developers.
Rare Private Parking: Features three private, coveted parking spaces, a highly valuable and scarce amenity in the dense Venice area.
Versatile Use: Offers diverse opportunities for an owner to live/work, develop, or create a multi-family residence, catering to various investment and lifestyle goals.

Cons

Tenant Occupied: The property is currently tenant-occupied, which may complicate immediate owner-occupancy or the commencement of development plans.
Substantial Overpricing: The listing price of $2,000,000 is significantly higher than the estimated property value of $1,748,837, suggesting a potentially inflated asking price.
Modest Current Living Space: The existing bungalow offers 1,283 sqft of living space, which is relatively small for its price point, particularly for buyers not immediately planning to utilize the development potential.

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