717 Venice Boulevard

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.

Listing information courtesy of: Samantha Kinnon, Pardee Properties . *Based on information from the Association of REALTORS/Multiple Listing as of 11/25/2024 and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.