1025 Nowita Place, Venice, California 90291, Venice, 90291 - 5 bed, 3 bath
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Venice, California 90291
This Turnkey Income-Generating Compound is a Strong Value Opportunity, listed at $2,595,000—positioned well below the $2,718,659 Fair Market Value by 4%. This valuation gap offers $123,659 in Instant Equity. Boasting a Mint Condition Rating, the property features a main residence and a permitted ADU generating $4,500/month in rental income. With Carrera marble kitchens, designer Grohe fixtures, and a private landscaped patio, it offers a luxury lifestyle just minutes from Abbot Kinney. This is an elite acquisition for Owner-Occupants seeking a mortgage offset or Multi-generational Buyers.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 1025 Nowita Place Subject | $2,595,000* List Price | 5 | 3 | 2,193 | $1,240 | - |
A 1104 Nowita Place Sold | $2,931,000 | 3 | 4 | 2,257 | $1,299 | 0.2 mi |
B 825 Coeur D Alene Avenue Sold | $2,444,393 | 3 | 2 | 1,660 | $1,473 | 0.5 mi |
C 813 Crestmoore Place Sold | $2,900,000 | 4 | 2 | 2,196 | $1,321 | 0.5 mi |
D 709 Vernon Avenue Sold | $3,300,000 | 4 | 5 | 2,470 | $1,336 | 0.5 mi |
E 906 Superba Avenue Sold | $2,750,000 | 3 | 3 | 1,830 | $1,503 | 0.2 mi |
F 1129 Van Buren Avenue Sold | $2,437,500 | 3 | 3 | 2,453 | $994 | 0.6 mi |
G 830 Palms Boulevard Active | $2,199,000 List Price | 6 | 3 | 2,122 | $1,036 | 0.3 mi |
* Subject property listed price vs sold prices of comps.
Property is new construction or fully renovated.
Although originally built in 1940, the property has undergone a comprehensive, high-end modern renovation within the last 5 years. The interior features gourmet kitchens with Carrera marble and custom cabinetry, designer bathrooms with Grohe fixtures, and updated systems including dual-pane windows, skylights, and mini-split HVAC units, placing it in mint condition.
The property features a permitted 2-bedroom ADU with its own address and utilities, currently generating $4,500/month in rental income, providing a significant mortgage offset.
Situated in a highly desirable pocket, the home offers unparalleled walkability to the vibrant shops on Abbot Kinney, dining on Rose Avenue, and Venice Beach.
Both residences have been extensively remodeled with high-end finishes, including Carrera marble, custom cabinetry, and skylights, offering a move-in-ready luxury experience.
With two separate dwellings on a 4,783 square foot lot, the outdoor space and privacy between the main house and ADU are relatively limited.
At a list price of nearly $2.6M for approximately 2,200 total square feet, the property commands a premium price point that may challenge appraisal values in a shifting market.
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 837 square feet (according to appraisal measurements), featuring 2 bedrooms and 1 bath, with its own address and utilities, and can serve as additional living space for guests or family. Tenant will vacate in 30 days for a clean sale, lease rate has been $4,500 per month. 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!
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 5.0 | 3.0 | 87% |
| Baths | 3.0 | 3.0 | 50% |
| Square foot | 2,193 | 1,897 | 59% |
| Lot Size | 4,783 | 4,251 | 58% |
| Price | $2.60M | $2.31M | 60% |
| Price per sq ft | $1.2K | $1.3K | 35% |
| Built year | 1940 | 1947 | 40% |
| HOA | $0 | $0 | 50% |
| Days on market | 38 | 166 | 1% |
Apr 29, 2026
$2,595,000
Initial Listing
Nov 21, 2017
$2,087,000
Public Record
May 31, 2017
$1,410,000
Public Record
Jun 5, 2003
$585,000
Public Record