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2712 Pacific Avenue, Venice, California 90291, Venice, 90291 - 6 bed, 4 bath

2712 Pacific Avenue, Venice, California 90291 home-pic-0
ACTIVE$3,000,000
2712 Pacific Avenue, Venice, California 90291
6Beds
4Baths
2,892Sqft
5,321Lot

Price Vs. Estimate

The estimated value ($2,954,698.315) is $45,301.685 (1%) lower than the list price ($3,000,000). This property may be overpriced.

Key pros and cons

Top Pros:
Prime Coastal Location: Situated just steps from Venice Beach, Abbot Kinney Boulevard, and the historic Venice Canals, offering unparalleled access to high-demand amenities and lifestyle.
Top Cons:
Tenant Occupancy & Access Restrictions: The property is tenant-occupied with strict 'Do Not Disturb' directives and showings only upon accepted offer/with notice, complicating due diligence and immediate renovation plans.

Compared to the nearby listings

Price:$3.00M vs avg $2.29M (+$709,500)80%
Size:2,892 sqft vs avg 1,831.5 sqft81%
Price/sqft:$1.0K vs avg $1.3K26%

More Insights

Built in 1940 (85 years old).
Condition: Built in 1940, this property is explicitly marketed for its 'value-add or redevelopment potential,' indicating that its current condition, particularly the interiors, is significantly outdated. While recent upgrades include new electrical systems, dual-pane windows, and fresh exterior paint, these are foundational and cosmetic, not comprehensive renovations. The complete absence of interior photos, especially of kitchens and bathrooms, strongly suggests these areas are in very poor, original, or minimally updated condition (likely 30-50+ years old), requiring substantial rehabilitation to meet modern standards. The property's age and the emphasis on future development rather than current living quality align with a 'poor' rating, necessitating significant investment beyond minor updates.
Year Built
1940
Close
-
List price
$3M
Original List price
$3M
Price/Sqft
$1,037
HOA
-
Days on market
-
Sold On
-
MLS number
25578063
Home ConditionPoor
Features
View-

About this home

2712 Pacific Avenue presents a rare opportunity to acquire a 4-unit multifamily property in one of Venice Beach's most coveted locations, just steps from the sand, Abbot Kinney Boulevard, and the historic Venice Canals. Situated on an expansive 5,319 SF lot with exceptionally low site coverage, the property offers in-place income and compelling value-add or redevelopment potential under RD1.5 zoning, which may allow for a Small Lot Subdivision or higher-end multifamily use. Recent upgrades include new electrical systems, new dual-pane windows, and fresh exterior paint, providing a clean canvas for repositioning. With functional unit layouts, covered parking, and beach proximity, 2712 Pacific is uniquely positioned for investors seeking immediate upside, luxury renovation potential, or long-term ground-up development in a high-demand coastal enclave. 2712 Pacific Ave may also be acquired with immediately adjacent 2709 Strongs, creating an assemblage totaling 7,976 SF of lot area for redevelopment. Email agents for offering memorandum. Do Not Disturb Tenants. Submit POF and terms with offer. Showing upon accepted offer/with notice per occupancy. Broker/Buyer to verify all information, including SF, units, income/expenses, zoning, and permits. Subject to seller's right to accept or reject any offer. See also MLS # 25578005

Condition Rating
Poor
Built in 1940, this property is explicitly marketed for its 'value-add or redevelopment potential,' indicating that its current condition, particularly the interiors, is significantly outdated. While recent upgrades include new electrical systems, dual-pane windows, and fresh exterior paint, these are foundational and cosmetic, not comprehensive renovations. The complete absence of interior photos, especially of kitchens and bathrooms, strongly suggests these areas are in very poor, original, or minimally updated condition (likely 30-50+ years old), requiring substantial rehabilitation to meet modern standards. The property's age and the emphasis on future development rather than current living quality align with a 'poor' rating, necessitating significant investment beyond minor updates.
Pros & Cons

Pros

Prime Coastal Location: Situated just steps from Venice Beach, Abbot Kinney Boulevard, and the historic Venice Canals, offering unparalleled access to high-demand amenities and lifestyle.
Significant Redevelopment Potential: Expansive 5,319 SF lot with exceptionally low site coverage and RD1.5 zoning, allowing for potential Small Lot Subdivision or higher-end multifamily development.
Immediate Income Stream: The property provides in-place income from its 4-unit multifamily configuration, offering immediate cash flow for investors.
Recent System Upgrades: Recent improvements include new electrical systems, dual-pane windows, and fresh exterior paint, providing a solid foundation for future repositioning.
Assemblage Opportunity: Option to acquire the immediately adjacent property (2709 Strongs) to create a larger 7,976 SF development site, enhancing future project scope.

Cons

Tenant Occupancy & Access Restrictions: The property is tenant-occupied with strict 'Do Not Disturb' directives and showings only upon accepted offer/with notice, complicating due diligence and immediate renovation plans.
Age of Property: Built in 1940, despite recent upgrades, the underlying structure and some systems may require significant investment for a luxury renovation or ground-up development.
Extensive Buyer Due Diligence Required: Buyers are explicitly advised to verify all information, including SF, units, income/expenses, zoning, and permits, indicating potential complexities and unknowns.

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