Description
Attention Venice and Abbot Kinney lovers/business owners. Incredible investment and income-producing live/work bungalow with immediate income over apx. 4.% cap rate, with a one-year remaining tenant. Possible for immediate occupancy with cash-for-keys on the iconic Abbot Kinney Blvd, where modern luxury meets coastal charm. Currently, a 2-bedroom, 2-bathroom gem offers 1,283 sqft of meticulously upgraded living space. Every inch of this home was reimagined in 2023, featuring a brand-new kitchen, completely renovated bathrooms, an additional bathroom, new landscaping, exterior enhancements, updated electrical and plumbing systems, a new HVAC, and a new roof. The inviting interior boasts a stylish decorative fireplace, providing a cozy focal point for the living area. Outside, the property includes not only a backyard but also a 60 ft front yard and three private, coveted parking spaces. Also ideal for future developers, this property includes formally approved RTI plans for an impressive modern 3-story duplex or triplex live/work potential. The design build promises 6,470 sqft of luxury living, with 5 bedrooms, 6.5 bathrooms, and an attached 1,200 sqft ADU. The ADU plan features 1 bedroom, 2 bathrooms, an office, and its own separate address. Situated close to Abbot Kinney's shops and renowned restaurants, this property offers diversity to own, live/work, or develop a multi-family residence in the center of Venice's vibrant lifestyle. Don't miss out on this exceptional property! The property is tenant-occupied until 3/1/27 at market rent, and could be open to cash for keys.
