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440 Howland Canal

Venice, CA 90291
  • $2,295,000
  • STATUS: Pending
  • ON SITE: 61 Days
  • ID#: 24357799
Pending
UPDATED: 143 min ago
$2,295,000
  • 5
    BEDS
  • 0.07
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 1,926
    SQFT
  • $1,192
    $/SQFT
Neighborhood:
Type:
Multi-Family
Built:
1924
County:
Area:

School Ratings & Info

School District:
Listing Agent(s): Tamra (Tami) Pardee of Pardee Properties (310-907-6517) and Samantha Kinnon of ()


Description

RARE 5-UNIT TROPHY PROPERTY ON THE VENICE CANALS WITH/ 2 UNITS VACANT - Ideal to live in one and rent the other four units! Or for 1031 exchange investors, or if you need stability in your real estate portfolio, park your cash for a 4.2% current cap rate, plus the ability to seek higher rents as units turnover for a projected 4.5% cap*. Nestled along the picturesque Venice Canals, this property has been meticulously maintained with love over the years. It consists of a 1 Bdrm/1 Bath Front house bungalow, perfect as a owners/unit that is vacant and recently refurbished, as well as four more charming units, with one that is vacant and ready to be rented at market rates. Tons of upside potential by bringing the vacant units up to market rates, or leverage this as the perfect owner/user property - live in the front house and start generating passive income immediately! There are endless possibilities here, unlike any other. //About this property: The 1 Bdrm/1 Bath detached front house bungalow gracefully faces the serene canals and sets the tone for the entire property. This beautiful unit stands ready for you to call home. Recently refurbished, you will enjoy a light-infused, functional floor plan, a cozy restored Franklin fireplace, a full kitchen with granite counters, stainless steel appliances, and a stackable washer and dryer. The spacious bedroom has plenty of closet space and a full bathroom with a jacuzzi-style spa tub. There are private outdoor decks on the front and side of the property- perfect for hosting friends, BBQ, and dining alfresco, or relaxing and unwinding, taking in the ocean breeze. Rent this unit to its fullest potential, or move right in to have your own space to call home!! To the rear of the property are three studio units and a junior 1 Bdrm unit that exude charm and a modern flair (two upstairs and two downstairs); all units have shared outdoor space, and each unit boasts a fully equipped kitchen, washer/dryer, and more. A vacant upstairs studio was just completely refurbished and is ready to be rented at market rates! Beautifully landscaped throughout, and a true sense of community among the tenants. Whether you call this property home or utilize it as an investment, it is ready for you to park your cash! Take advantage of this rare chance to own a piece of Venice's history and enjoy the tranquility of canal-side living, all within one of the most sought-after neighborhoods in Southern California.

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Based on information from California Regional Multiple Listing Service, Inc. as of 2024-04-24T19:38:30.2. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Berkshire Hathaway HomeServices California Properties. Licensed in the State of California, USA.
www.kevinhillre.com/homes/147834701
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440 Howland Canal Venice, CA 90291

  • Price: $2,295,000
  • Status: Pending
  • On Site: 61 Days
  • Updated: 143 min ago
  • ID#: 24357799
5
Beds
0
Baths
0
½ Baths
0.07
Acres
1,926
SQFT
$1,192
$/SQFT
1924
Built
Neighborhood:
C11 - Venice
County:
Los Angeles
Area:
C11 - Venice
School District:
Los Angeles Unified
Property Description
RARE 5-UNIT TROPHY PROPERTY ON THE VENICE CANALS WITH/ 2 UNITS VACANT - Ideal to live in one and rent the other four units! Or for 1031 exchange investors, or if you need stability in your real estate portfolio, park your cash for a 4.2% current cap rate, plus the ability to seek higher rents as units turnover for a projected 4.5% cap*. Nestled along the picturesque Venice Canals, this property has been meticulously maintained with love over the years. It consists of a 1 Bdrm/1 Bath Front house bungalow, perfect as a owners/unit that is vacant and recently refurbished, as well as four more charming units, with one that is vacant and ready to be rented at market rates. Tons of upside potential by bringing the vacant units up to market rates, or leverage this as the perfect owner/user property - live in the front house and start generating passive income immediately! There are endless possibilities here, unlike any other. //About this property: The 1 Bdrm/1 Bath detached front house bungalow gracefully faces the serene canals and sets the tone for the entire property. This beautiful unit stands ready for you to call home. Recently refurbished, you will enjoy a light-infused, functional floor plan, a cozy restored Franklin fireplace, a full kitchen with granite counters, stainless steel appliances, and a stackable washer and dryer. The spacious bedroom has plenty of closet space and a full bathroom with a jacuzzi-style spa tub. There are private outdoor decks on the front and side of the property- perfect for hosting friends, BBQ, and dining alfresco, or relaxing and unwinding, taking in the ocean breeze. Rent this unit to its fullest potential, or move right in to have your own space to call home!! To the rear of the property are three studio units and a junior 1 Bdrm unit that exude charm and a modern flair (two upstairs and two downstairs); all units have shared outdoor space, and each unit boasts a fully equipped kitchen, washer/dryer, and more. A vacant upstairs studio was just completely refurbished and is ready to be rented at market rates! Beautifully landscaped throughout, and a true sense of community among the tenants. Whether you call this property home or utilize it as an investment, it is ready for you to park your cash! Take advantage of this rare chance to own a piece of Venice's history and enjoy the tranquility of canal-side living, all within one of the most sought-after neighborhoods in Southern California.
Exterior Features

Direction Faces North Entry Location Living Room Open Parking Spaces 0 Parking Features None Parking Total 0 Patio And Porch Features OpenPatioSee Remarks Pool Features None Pool Private YN No Spa Features None Spa YN No View CanalWater View YN Yes Waterfront Features Canal Front

Interior Features

Appliances DishwasherGas CooktopDisposalGas OvenRefrigeratorDryerWasher Cooling None Cooling YN No Fireplace Features Living Room Fireplace YN Yes Flooring CarpetLaminate Heating Wall Furnace Heating YN Yes Interior Features Ceiling Fan(s)Living Room Deck AttachedWalk-In Closet(s) Window Features Blinds

Property Features

Association YN No Buyer Financing CashConventional Cap Rate 4.2 Disclosures Coastal Commission RestrictionsListing Broker Advantage Garage YN No Gross Income 137532 Laundry Features In KitchenSee RemarksStacked Levels Two Listing Agreement Exclusive Right To Sell Listing Service Full Service Listing Terms CashConventional Net Operating Income 96272 New Construction YN No Possession Close Of Escrow Property Condition Updated/Remodeled Senior Community YN No Sewer Other Special Listing Conditions Standard Tenant Pays Cable TVElectricityGasTrash Collection Zoning LARW1



Based on information from California Regional Multiple Listing Service, Inc. as of 2024-04-24T19:38:30.2. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Berkshire Hathaway HomeServices California Properties. Licensed in the State of California, USA.
 
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Berkshire Hathaway HomeServices California Properties
25909 Pala Dr, Suite 100
Mission Viejo CA, 92691
Listing Agent(s): Tamra (Tami) Pardee of Pardee Properties (310-907-6517) and Samantha Kinnon of ()