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$1,775,000
Est. payment /mo
4 Beds
4 Baths
1,540 SqFt
UPDATED:
Key Details
Property Type Single Family Home
Listing Status Coming Soon
Purchase Type For Sale
Square Footage 1,540 sqft
Price per Sqft $1,152
MLS Listing ID 26853761
Bedrooms 4
HOA Y/N No
Year Built 1939
Lot Size 5,802 Sqft
Property Description
**4-Unit Investment with Approved ADU Permits** Remodeled and thoughtfully upgraded over the years, 705 Flower Ave presents a rare opportunity to acquire a pride-of-ownership four-unit property in one of Venice's most sought-after neighborhoods. Originally constructed in 1939, the property blends classic architectural character with thoughtful modern updates, offering four light-filled studio apartments that retain much of their original charm. Offered at $1,775,000, the property consists of four studio units and four separately leased garages generating approximately $121,000 in scheduled gross income, along with fully approved ADU permits to convert the existing recreation room into a fifth unit. With permits already in place, a buyer can begin construction immediately after closing and unlock additional rental income without the uncertainty of the entitlement process. Over the years, the owner has made substantial capital improvements, including updated electrical and plumbing systems, remodeled units, smooth stucco, new roofing, upgraded gas service, new decking, a new entry gate, and numerous other system upgrades that help reduce near-term capital expenditures. The property offers approximately 45% rental upside through the approved ADU conversion, allowing investors to add substantial value while acquiring a well-maintained asset with significant capital improvements already completed. Set on a 5,802-square-foot lot, the property features private decks and patios surrounded by lush greenery and garden landscaping, along with original hardwood flooring, spacious kitchens, and abundant natural light throughout the units. Ideally located in a quiet pocket of North Venice near the Santa Monica border, residents are just one block from Rose Avenue's popular restaurants and cafes, one block from Whole Foods Market, and approximately seven blocks from Venice Beach and Main Street Santa Monica. Combining timeless character, a premier Westside location, and exceptional value-add potential, 705 Flower Ave represents a compelling investment opportunity.
Location
State CA
County Los Angeles
Area C11 - Venice
Zoning LARD1.5
Interior
Fireplace No
Appliance Refrigerator
Exterior
Garage Spaces 4.0
Garage Description 4.0
Community Features Gated
Total Parking Spaces 4
Building
Entry Level One
Level or Stories One
New Construction No
Others
Senior Community No
Tax ID 4240018052
Security Features Gated Community,Security Guard
Special Listing Condition Standard
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Listed by David Messiah Lyon Stahl Investment Real Estate, Inc. #02117893
NEARBY SCHOOLS & PROPERTIES
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