504 Grand Boulevard, Venice, California 90291, Venice, 90291 - bed, bath
ACTIVE$2,700,000
504 Grand Boulevard, Venice, California 90291
0Bed
0Bath
3,240Sqft
4,497Lot
Year Built
1957
Close
-
List price
$2.7M
Original List price
$2.75M
Price/Sqft
$833
HOA
-
Days on market
-
Sold On
-
MLS number
PW25035487
Home ConditionPoor
Features
Good View:
Patio
View-
About this home
We found 3 Cons,5 Pros.
504 Grand Blvd is a prime 6-unit apartment building in the heart of Venice, just steps from the iconic Venice sign and popular retail and dining spots. The 3,240 SF building sits on a 4,497 SF lot and features (6) 1-bed/1-bath units, along with 6 dedicated parking spaces—an invaluable asset in this high-demand area. This well-located property offers strong rental income potential in one of LA’s most vibrant coastal communities, making it an excellent investment opportunity.
Price History
Date
Event
Price
06/27/18
Sold
$580,000
03/27/18
Sold
$538,000
Condition Rating
Poor
The property was built in 1957, making it 67 years old. The listing's own analysis highlights the building's age, suggesting a need for 'significant capital expenditures for system upgrades (e.g., plumbing, electrical, HVAC)' and 'dated finishes or appliances.' No interior images are provided to assess the condition of kitchens, bathrooms, or other features, and there is no mention of recent renovations. This indicates that major systems and interior aesthetics likely require substantial repairs and rehabilitation to meet modern standards, fitting the 'Poor' condition criteria.
Pros & Cons
Pros
Prime Location: Situated in the heart of Venice, steps from the iconic Venice sign and popular retail and dining, ensuring high tenant demand and desirability.
Strong Investment Potential: Explicitly noted for strong rental income potential in one of LA's most vibrant coastal communities, making it an excellent investment opportunity.
Dedicated Parking: Offers 6 dedicated parking spaces, an invaluable and rare asset in the high-demand Venice area, significantly enhancing tenant appeal.
Multi-Unit Income Stream: A 6-unit apartment building provides diversified income and reduced vacancy risk compared to single-unit properties.
High-Demand Market: Located in a highly sought-after coastal community, suggesting consistent tenant interest and potential for long-term property value appreciation.
Cons
Building Age: Built in 1957, the property may require significant capital expenditures for system upgrades (e.g., plumbing, electrical, HVAC) or cosmetic renovations to meet modern tenant expectations and maximize rental income.
Uniform Unit Configuration: All six units are 1-bed/1-bath, which limits the tenant pool to individuals or couples and may not cater to families or those seeking larger living spaces.
Potential for Dated Interiors: The description does not specify recent interior renovations, suggesting units may have dated finishes or appliances, potentially requiring updates to command premium rents.