1031 Lake Street, Venice, California 90291, Venice, 90291 - 3 bed, 2 bath
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1031 Lake Street
Venice, California 90291
ACTIVE
CONDITION: EXCELLENT
3Beds
2Baths
1,604Sq Ft
5,378Lot Size
Property Price
LIST PRICE$2,295,000
EST. MARKET VALUE
$2,330,176
SUMMARY
This Turnkey Venice Bungalow is a Strong Value Opportunity, listed at $2,295,000—positioned well below the $2,330,176 Fair Market Value by 1.5%. This valuation gap offers $35,176 in Instant Equity for the buyer. Featuring a 2023 master remodel, an Open-Concept Kitchen, and a Finished Garage Flex Space, the property maintains an Excellent Condition Rating. Located minutes from Abbot Kinney, this residence offers a premium coastal lifestyle. It is an ideal acquisition for Owner-Occupants seeking a move-in ready home or sophisticated buyers prioritizing location.
Estimated Market Value
$2,330,176
Based on Realkey algorithm analyzing recent comparable sales in Venice.
Comparable Sales Map
Comparables within 1 miles sold in recently
Map unavailable.
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 1031 Lake Street Subject 3 bd · 2 ba · 1,604 sqft · $1,453 | $2,295,000* List Price | 3 | 2 | 1,604 | $1,453 | - |
A 1145 Palms Boulevard Sold 3 bd · 3 ba · 1,718 sqft · $1,414 · 0.2 mi | $2,430,000 | 3 | 3 | 1,718 | $1,414 | 0.2 mi |
B 1000 Indiana Avenue Sold 3 bd · 2 ba · 1,452 sqft · $1,550 · 0.1 mi | $2,250,000 | 3 | 2 | 1,452 | $1,550 | 0.1 mi |
C 1009 Vernon Avenue Sold 3 bd · 2 ba · 1,896 sqft · $1,411 · 0.1 mi | $2,675,000 | 3 | 2 | 1,896 | $1,411 | 0.1 mi |
D 1060 Superba Avenue Sold 3 bd · 2 ba · 1,536 sqft · $1,594 · 0.4 mi | $2,449,000 | 3 | 2 | 1,536 | $1,594 | 0.4 mi |
E 1090 Superba Avenue Sold 3 bd · 2 ba · 1,460 sqft · $1,832 · 0.4 mi | $2,675,000 | 3 | 2 | 1,460 | $1,832 | 0.4 mi |
F 754 California Avenue Sold 3 bd · 3 ba · 1,511 sqft · $1,357 · 0.6 mi | $2,050,000 | 3 | 3 | 1,511 | $1,357 | 0.6 mi |
G 2458 Walnut Avenue Sold 3 bd · 1 ba · 1,124 sqft · $1,666 · 0.9 mi | $1,872,500 | 3 | 1 | 1,124 | $1,666 | 0.9 mi |
H 2477 Walnut Avenue Sold 4 bd · 2 ba · 1,398 sqft · $1,348 · 0.9 mi | $1,885,000 | 4 | 2 | 1,398 | $1,348 | 0.9 mi |
I 935 Indiana Avenue Active Under Contract 3 bd · 2 ba · 1,410 sqft · $1,276 · 0.2 mi | $1,799,000 List Price | 3 | 2 | 1,410 | $1,276 | 0.2 mi |
* Subject property listed price vs sold prices of comps.
Condition Analysis
See Full ReportOVERALL CONDITION SCORE
Excellent
TeardownExcellent
Property is new construction or fully renovated.
The property was completely remodeled and expanded in 2023, which is less than 5 years ago. It features a modern open-concept kitchen, fully updated bathrooms with contemporary fixtures, and is in mint, turnkey condition requiring no maintenance.
PROSSTRENGTHS & OPPORTUNITIES
- Recent Modern Renovation
Masterfully remodeled and expanded in 2023, this turnkey bungalow features a contemporary open-concept layout and high-end finishes, offering a move-in ready experience.
- Prime Venice Location
Situated just minutes from the iconic Abbot Kinney Boulevard and the beach, the property offers unparalleled access to world-class dining, shopping, and the coastal lifestyle.
- Versatile Flex Space
The inclusion of a finished garage provides valuable additional square footage for a home office, gym, or studio, complemented by a rare large backyard for outdoor entertaining.
CONSRISKS & DEFICIENCIES
- MLS Listing Discrepancy
Living area discrepancy between mls listing and other public or private record. mls listing living area = 1604, other record living area = 1213.
- Lack of Scenic Views
The property does not offer any significant views, which may be a drawback for buyers seeking the ocean or city vistas often associated with high-end Venice real estate.
- High Price per Square Foot
At a list price of $2.295 million for 1,604 square feet, the property commands a significant premium that may challenge appraisal values or budget-conscious buyers.
About 1031 Lake Street
This charming Venice bungalow was masterfully remodeled and expanded in 2023, now offering 3 bedrooms and 2 bathrooms across a thoughtfully reimagined floorplan. A finished garage adds versatile flex space ideal for a home office, playroom, gym, or studio. Inside, an open-concept kitchen with a center island flows effortlessly into a comfortable dining area and spacious living room, creating an easy rhythm for everyday living and entertaining. Gated parking offers added privacy and security, while a large backyard provides room to garden, host, or simply unwind. Just minutes from Abbot Kinney, the beach, and Venice's best shops and dining, this is turnkey Venice living at its finest.
Property Details
Public Facts
- Property Type
- Single Family Residence
- Year Built
- 1951
- Lot Size
- 5,378 Sq. Ft.
Interior
- Total Bedrooms
- 3
- Total Bathrooms
- 2 (2 Full, 0 Half)
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $0 / Month
Neighborhood Insights
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 3.0 | 3.0 |
| Baths | 2.0 | 2.4 |
| Square foot | 1,604 | 1,674.03 |
| Lot Size | 5,378 | 4,310.258 |
| Price | $2.29M | $2.32M |
| Price per sq ft | $1.4K | $1.4K |
| Built year | 1951 | 1944 |
| HOA | $0 | $401 |
| Days on market | 30 | 61 |
Pricing History
Listed for Sale
Sep 24, 2026
$2,295,000
Initial Listing
Sold
Oct 5, 2021
$1,485,000
Public Record