717 Venice BLVD Save Request In-Person Tour Request Virtual Tour
Venice,CA 90291
Key Details
Property Type Condo
Sub Type Condominium
Listing Status Active Under Contract
Purchase Type For Sale
Square Footage 870 sqft
Price per Sqft $402
MLS Listing ID 24421457
Bedrooms 1
Full Baths 1
Construction Status Updated/Remodeled
HOA Fees $514/mo
HOA Y/N Yes
Year Built 2017
Lot Size 8,150 Sqft
Acres 0.1871
Property Description
Curious about a non-typical real estate investment - learn more about this interesting investment opportunity in the heart of Venice. Here is how it works: 1) You buy this *DEED-RESTRICTED* unit at the list price, which is less than 50% of market value. 2) You rent it out to a low-income eligible household at a current maximum allowable rent of $1,178, subject to annual rental increases, for at least 24 years. 3) After the Covenant expires, you can rent or sell it at then-market value (subject to tenant's rent control rights at that time). 4. Your gain is 24+ years of appreciation in the Venice market, plus the gain for buying it far below market value today. // This is a DEED-RESTRICTED UNIT and must be rented to a low-income eligible household at a maximum allowable rent of $1,178 per month. Buyer will be required to execute a Consent Agreement with the City of Los Angeles agreeing to the Assignment and Assumption of the Restriction Covenant on the property. // Experience the epitome of California living in this stunning 1-bedroom, 1-bath condo located in the heart of Venice. The open-concept floor plan seamlessly integrates indoor and outdoor spaces, highlighted by floor-to-ceiling sliding doors that open to your private patio perfect for soaking up the sun and enjoying the coastal breeze. Inside, the light-filled unit boasts a sleek open kitchen with waterfall-style countertops and bar seating, complemented by warm wood floors that flow throughout the main living area. The bedroom is a tranquil retreat and includes a walk-in closet and access to the private patio. This home also offers the ultimate convenience with in-unit laundry, a split-unit HVAC system, a tankless water heater, and a parking spot located just steps from your door. Situated in a prime location, you'll find yourself surrounded by the best amenities Los Angeles has to offer. Savor the flavors of renowned restaurants on Abbot Kinney, relax in fabulous coffee shops, and shop at the exclusive Erewhon market just steps from your door. Live the vibrant Venice lifestyle in a home that truly has it all.
Location
State CA
County Los Angeles
Area C11 - Venice
Zoning LAR2
Rooms
Ensuite Laundry Inside
Interior
Interior Features Separate/Formal Dining Room,Eat-in Kitchen,Open Floorplan,Recessed Lighting
Laundry Location Inside
Heating Wall Furnace
Flooring Tile,Wood
Fireplaces Type None
Furnishings Unfurnished
Fireplace No
Appliance Dishwasher,Oven,Refrigerator,Dryer,Washer
Laundry Inside
Exterior
Garage Covered,Carport
Pool None
View Y/N No
View None
Porch Open,Patio
Parking Type Covered,Carport
Total Parking Spaces 1
Private Pool No
Building
Story 2
Entry Level One
Sewer Other
Level or Stories One
New Construction No
Construction Status Updated/Remodeled
Schools
School District Los Angeles Unified
Others
Pets Allowed Yes
Senior Community No
Tax ID 4241028022
Security Features Carbon Monoxide Detector(s),Smoke Detector(s)
Acceptable Financing Cash
Listing Terms Cash
Financing Cash
Special Listing Condition Standard
Pets Description Yes