1025 Nowita Place, Venice, California 90291, Venice, 90291 - 5 bed, 3 bath

1025 Nowita Place, Venice, California 90291 home-pic-0
ACTIVE$2,850,000
1025 Nowita Place, Venice, California 90291
5Beds
3Baths
2,193Sqft
4,783Lot
Year Built
1940
Close
-
List price
$2.85M
Original List price
$2.85M
Price/Sqft
$1,300
HOA
-
Days on market
-
Sold On
-
MLS number
25510023
Home ConditionExcellent
Features
ViewCourtyard

About this home

Possibly Over-Priced:The estimated price is 25% below the list price. We found 3 Cons,5 Pros. Rank: price - $2.85M(74th), sqft - 2193(64th), beds - 5(88th), baths - 3(50th).

A beautifully remodeled property featuring two distinct homes on one lot. The main residence boasts 1,439 square feet of stylish living space, offering 3 spacious bedrooms and 2 modern bathrooms. The highlight of the main home is the luxurious primary suite, complete with its own fireplace, a separate shower, and a stunning freestanding soaking tub. The second residence is a permitted accessory dwelling unit (ADU) at 754 square feet, featuring 2 bedrooms and 1 bath, with its own address and utilities, the ADU is currently rented out for $4,500/month or can serve as additional living space for guests or family. Both homes showcase open floor plans with gourmet kitchens that include Carrera marble counters, subway tile backsplashes, custom satin grey cabinetry, and all stainless steel appliances. Enjoy modern bathrooms adorned with stylish tile and Grohe faucets, frosted glass interior doors, and abundant natural light from dual-pane windows and glass exterior doors, complemented by skylights throughout. The property sits on private lot, providing serene front and rear yards, fencing, and beautifully landscaped common areas that create a retreat-like atmosphere. Additional custom upgrades include ample closet space, an outdoor fire pit, and numerous interior design touches that elevate the space. Situated just minutes from Rose Avenue, Abbot Kinney shops, and Venice Beach, this property offers unparalleled access to vibrant dining, live music, and shopping nearby. Don't miss out on this opportunity to own a piece of Venice paradise!

Price History

Date
Event
Price
11/21/17
Sold
$2,087,000
05/31/17
Sold
$1,410,000
06/05/03
Sold
$585,000
Condition Rating
Excellent

This property has undergone a beautiful and extensive modern remodel, as explicitly stated in the description. Both residences feature gourmet kitchens with Carrera marble counters, subway tile backsplashes, custom satin grey cabinetry, and all stainless steel appliances. The bathrooms are modern with stylish tile and Grohe faucets, including a freestanding soaking tub in the primary suite. Additional upgrades like dual-pane windows, skylights, and custom interior design touches indicate a comprehensive renovation to current quality standards, making the property virtually new in its key components and move-in ready.
Pros & Cons

Pros

Income-Generating ADU: The property features a permitted accessory dwelling unit (ADU) with its own address and utilities, currently generating $4,500/month in rental income, offering significant financial benefit or flexible living arrangements.
Prime Venice Location: Situated just minutes from Rose Avenue, Abbot Kinney shops, and Venice Beach, the property boasts unparalleled access to vibrant dining, shopping, and entertainment, a highly desirable attribute.
Extensive Modern Remodel: Both residences have been beautifully remodeled with high-end finishes, including gourmet kitchens with Carrera marble and stainless steel appliances, modern bathrooms, dual-pane windows, and skylights, ensuring a luxurious and move-in ready condition.
Dual Residences on One Lot: The presence of two distinct, fully equipped homes on a single lot provides exceptional versatility for multi-generational living, guest accommodation, or continued rental income, maximizing property utility.
Private & Landscaped Outdoor Spaces: Serene front and rear yards, fencing, beautifully landscaped common areas, and an outdoor fire pit create a private, retreat-like atmosphere, enhancing lifestyle and curb appeal.

Cons

Significant Overpricing: The listing price of $2,850,000 is approximately 25% higher than the estimated property value of $2,113,383, which may indicate overvaluation and could deter potential buyers or prolong market time.
Older Original Construction Year: Built in 1940, despite extensive remodeling, the property's age might raise concerns for some buyers regarding the condition of underlying infrastructure not explicitly detailed as updated.
Limited Lot Size for Dual Homes: The 4,783 sqft lot, while private, may be considered somewhat constrained for two distinct homes, potentially limiting expansive outdoor living or future development opportunities compared to larger parcels.

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