440 Howland Canal
Venice, CA, 90291 $ 2,295,000
Bedrooms5 Baths5.0 Sq 1,926 Monthly Estimate*
$ 16,031
Listed by Pardee Properties
for $2,295,000 with 5 bedrooms and 5 full baths. This 1,926 square foot home was built in 1924 on a lot size of 0.0654.
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.
See more
FeaturesGeneralInterior Features CeilingFans LivingRoomDeckAttached WalkInClosets
Sewer Other
Heating WallFurnace
Cooling None
Possession CloseOfEscrow
Appliances Dishwasher GasCooktop Disposal GasOven Refrigerator Dryer Washer
Zoning LARW1
Garage Spaces 0.0
Patio/Porch Features Open Patio SeeRemarks
Pool Features None
Year Built 1924
Tenant Pays CableTV Electricity Gas TrashCollection
View Canal Water
Stories 2
Levels Two
Gross Income 137532.0
Waterfront Features CanalFront
County Los Angeles
Net Operating Income 96272.0
New Construction N
Property Type ResidentialIncome
HOA / Comm Assn N
Attached Garage N
Facing Direction North
Garage Y/N N
Special Listing Conditions Standard
Status Pending
Buyer Financing Cash Conventional
Directions West of Ocean Ave North of Washington Blvd South of Venice Blvd - on the Venice Canals!
City Venice
Disclosures CoastalCommissionRestrictions ListingBrokerAdvantage
Entry Location Living Room
View Y/N Y
Senior Community Y/N N
High School District Los Angeles Unified
Open Parking Spaces 0.0
Total Units 5
MLS Area C11 - Venice
Lot Size Square Feet 2850.0
Private Pool N
Waterfront Y/N N
Carport Y/N N
Street Name Howland Canal
Listing Terms Cash Conventional
Spa Features None
Property Attached Y/N N
Land Lease Y/N N
Home Warranty Y/N N
Property Condition UpdatedRemodeled
Lease Renewal Y/N N
Additional Parcels Y/N N
Lease Considered Y/N N
Rent Control Y/N N
Days on Market 34
Standard Status Pending
Occupancy Description Tenant
Cap Rate 4.2
See more
InteriorFlooring Carpet Laminate
Fireplace Features LivingRoom
Total Stories 2
Basement (Y/N) N
Air Conditioning Y/N N
Heating Y/N Y
Window Features Blinds
Fireplace Y/N Y
Full Baths 0
Half Baths 0
1/4 Baths 0
3/4 Baths 0
Laundry Features InKitchen SeeRemarks Stacked
Total Bedrooms 5
Electric On Property Y/N N
Total Baths 5
See more
ExteriorParking Features None
Total Parking 0.0
Lot Size Area 2850.0
Number of Buildings 2
Spa N
Building Area Total 1926.0
Lot Size Acres 0.0654
Lot Size Units SquareFeet
Crops Included Y/N N
Open Parking Y/N N
Horse Y/N N
Irrigation Water Rights Y/N N
See more
* Excluded FeaturesAffordability Calculator
- Monthly Principal & Interest
- $16,031
- Monthly Property Taxes
- --
- Monthly Home Insurance
- --
Default based on a 30-year fixed rate of 7.49% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
Learn more about how to save NearbyMulti-family listings in Venice, CA
Average List Price $2,933,070
Percent of Sale Price 28%
About Venice, CA 29,124 Population
-6% Since 2002
$ 89,009 Median Income
41.51 Median Age
14% Households with Children
Trends Information provided by ATTOM Data Solutions.
4003522 Elementary School
4003523 Middle School
Unknown High School High School
Pricing HistoryDate | Price | Price Change | Description |
---|
2/22/2024 | $2,295,000 | | Listed Price |