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.
Property Features
Bedrooms
- Bedrooms: 1
- Bedroom 1 Features: WalkInCloset
Bathrooms
- Total Bathrooms: 1
- Full Bathrooms: 1
- Bathroom 1 Features: Shower Over Tub, Tile
Interior Features
- Recessed Lighting
- Open Floor Plan
- Furnished Description: Unfurnished
- Flooring: Tile, Wood, Marble
Appliances
- Oven
- Laundry Facilities: Inside
- Laundry Features: Inside
Other Rooms
- Living Room, Patio Covered
Kitchen and Dining
- Open to Family Room
- Remodeled
- Breakfast Room Description: In Kitchen, Dining Area
- Kitchen Features: Open to Family Room, Remodeled
Heating and Cooling
- Cooling Features: Air Conditioning, Wall Unit(s)
- Heating Features: Wall
- Water Heaters: Tankless
Waterfront and Water Access
Garage and Parking
- Covered Spaces: 1
- Garage Description: Carport, Covered Parking
- Parking Total: 1
- Covered Parking: Yes
Exterior and Lot Features
- Patio And Porch Features: Patio Open
- Patio Features: Patio Open
Land Info
- Lot Size Acres: 0.1871442
- Lot Size Source: Vendor Enhanced
- Lot Size Square Feet: 8152
Homeowners Association
- Association: Yes
- Association Fee: 514
- Association Fee Frequency: Monthly
- Calculated Total Monthly Association Fees: 514
Multi-Unit Info
Condo Info
- Unit Floor In Building: 1
School Information
- School District: Los Angeles Unified
Other Property Info
- Sliding Glass Doors
- Source Listing Status: Active Under Contract
- County: Los Angeles
- Directions: At the intersection of Venice Blvd and Oakwood Ave.
- Source Property Type: Residential
- Area: Venice
- Property Subtype: condo
- Source Neighborhood: Venice
- Parcel Number: 4241-028-022
- Postal Code Plus 4: 4802
- Property Location: City
- Zoning: LAR2
- Property Subtype: Condominium
- Source System Name: C2C
Building and Construction
- Total Square Feet Living: 870
- Year Built: 2017
- Building Name: Venice Wedge HOA
- Common Walls: Attached
- Entry Location: Ground Level w/steps
- Levels: One Level
- Living Area Source: Vendor Enhanced
- Property Age: 7
- Property Condition: Updated/Remodeled
- Levels or Stories: 2
- Structure Type: Condominium, Attached, Single Level
- House Style: Architectural
- Year Built Source: Vendor Enhanced
Utilities
Home Features
- Other Equipment: Dishwasher, Refrigerator, Range/Oven, Washer, Dryer
- Security Features: Carbon Monoxide Detector(s), Smoke Detector