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905 5th Avenue, Venice, California 90291, Venice, 90291 - 2 bed, 1 bath

905 5th Avenue, Venice, California 90291 home-pic-0
ACTIVE$1,195,000
905 5th Avenue, Venice, California 90291
2Beds
1Bath
900Sqft
1,350Lot

Price Vs. Estimate

The estimated value ($1,025,777.635) is $169,222.365 (14%) lower than the list price ($1,195,000). This property may be overpriced.

Key pros and cons

Top Pros:
Exceptional Location: The property boasts a prime Venice location, just blocks from the sand and a stone's throw from the vibrant Abbot Kinney Blvd, surrounded by popular local establishments and dining.
Top Cons:
Small Lot Size: With a lot size of only 1350 sqft, the property offers limited outdoor space and potential for future expansion compared to other single-family homes.

Compared to the nearby listings

Price:$1.20M vs avg $2.28M ($-1,087,500)2%
Size:900 sqft vs avg 1,818 sqft8%
Price/sqft:$1.3K vs avg $1.3K55%

More Insights

Built in 1924 (101 years old).
Condition: Despite being built in 1924, the property has undergone a recent and comprehensive renovation, as explicitly stated in the listing description and highlighted in the property analysis. The interior, including the kitchen and bathroom, features modern finishes, contemporary fixtures, and updated appliances, bringing it to current quality standards. Skylights and consistent flooring throughout further indicate a high-quality, move-in ready condition with minimal physical depreciation.
Year Built
1924
Close
-
List price
$1.2M
Original List price
$1.2M
Price/Sqft
$1,328
HOA
-
Days on market
-
Sold On
-
MLS number
25520011
Home ConditionExcellent
Features
Patio
View

About this home

This adorable 2-bedroom, 1-bathroom recently renovated bungalow offers the perfect blend of beach living and modern convenience, just blocks from the sand and a stone's throw from the vibrant Abbot Kinney Blvd. Skylights throughout fill the home with natural light, enhancing its airy, open feel. With a prime location near local favorites like Gjusta, RVR, and Felix, plus the best of Rose Avenue's shops and dining, this home is the ultimate Venice retreat. Enjoy a quick trip to the beach, or relax in your cozy oasis with easy access to the city's best spots. Whether you're looking for a starter home or a smart investment for short-term rentals with an approximate 5% CAP rate, this bungalow is a perfect choice. Don't miss the chance to live or invest in one of LA's most sought-after neighborhoods!

Price History

Date
Event
Price
04/21/22
Sold
$1,200,000
11/15/12
Sold
$530,000
Condition Rating
Excellent
Despite being built in 1924, the property has undergone a recent and comprehensive renovation, as explicitly stated in the listing description and highlighted in the property analysis. The interior, including the kitchen and bathroom, features modern finishes, contemporary fixtures, and updated appliances, bringing it to current quality standards. Skylights and consistent flooring throughout further indicate a high-quality, move-in ready condition with minimal physical depreciation.
Pros & Cons

Pros

Exceptional Location: The property boasts a prime Venice location, just blocks from the sand and a stone's throw from the vibrant Abbot Kinney Blvd, surrounded by popular local establishments and dining.
Recent Renovation: Described as a 'recently renovated bungalow,' the property offers modern convenience and is likely move-in ready, appealing to buyers seeking updated features.
Abundant Natural Light: Skylights throughout the home fill the interior with natural light, enhancing its airy, open feel and contributing to a desirable living environment.
Strong Investment Potential: The property is highlighted as a 'smart investment for short-term rentals with an approximate 5% CAP rate,' making it attractive to investors.
Charming Bungalow Appeal: Its description as an 'adorable' and 'cozy oasis' bungalow in one of LA's most sought-after neighborhoods offers significant charm and lifestyle appeal.

Cons

Small Lot Size: With a lot size of only 1350 sqft, the property offers limited outdoor space and potential for future expansion compared to other single-family homes.
Potential Overpricing: The list price of $1,195,000 is significantly higher than the estimated value of $1,025,777, which could indicate overpricing or a premium not fully supported by market data.
Limited Size and Configuration: The 2-bedroom, 1-bathroom layout with 900 sqft may be restrictive for certain buyer segments, such as growing families, limiting the potential buyer pool.

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