1163 Lake Street, Venice, California 90291, Venice, 90291 - 3 bed, 2 bath
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Venice, California 90291
This Prime Venice Development Asset is listed at $1,929,000, reflecting a location-based premium over the $1,710,185 Fair Market Value. Carrying a Condition Rating of 6, the primary value of this acquisition is the expansive 7,048 sq. ft. corner lot situated directly across from Penmar Park and Golf. The property offers significant potential for a luxury new build or major remodel to capitalize on high Westside demand and coastal breezes. This is an exceptional opportunity for Developers or Visionary Owner-Users looking to create a custom residence in a premier coastal pocket.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 1163 Lake Street Subject | $1,699,000* List Price | 3 | 2 | 1,256 | $1,382 | - |
A 2141 Glyndon Avenue Sold | $2,050,000 | 3 | 2 | 1,595 | $1,285 | 0.6 mi |
B 834 Commonwealth Avenue Sold | $1,375,000 | 2 | 1 | 928 | $1,482 | 0.5 mi |
C 2110 Glencoe Pending | $1,799,999 List Price | 2 | 2 | 1,217 | $1,479 | 0.6 mi |
* Subject property listed price vs sold prices of comps.
Property is land value only, full reconstruction required.
Built in 1954 with no mentioned renovations in over 70 years, the listing explicitly targets builders for 'brand new construction' and emphasizes the large corner lot and location over the dwelling's condition.
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 7048, living area = 1256.
Situated directly across from Penmar Park and Golf Course in the highly desirable Venice area, offering immediate access to recreational green spaces and coastal breezes.
The property features a generous 7,048 sq. ft. corner lot, providing significantly more land area and development flexibility than the typical Venice parcel.
Built in 1954, the existing structure likely requires a total renovation or demolition, necessitating a substantial additional investment beyond the purchase price.
The property does not offer specific ocean or elevated views, which may be a drawback for buyers seeking a premium coastal visual experience.
Long time Venice owners here, on this large 7,048 sq. ft. corner lot, across from Penmar Park and Golf. Bring your builders for your major remodel or brand new construction, alot of possibilities here. Come enjoy the Venice Ocean breezes and walk to Friday Sunsets at The Penmar. LOCATION, LOCATION, LOCATION...
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 3.0 | 3.0 | 50% |
| Baths | 2.0 | 3.0 | 44% |
| Square foot | 1,256 | 1,892.5 | 28% |
| Lot Size | 7,048 | 4,255.5 | 85% |
| Price | $1.70M | $2.31M | 18% |
| Price per sq ft | $1.4K | $1.3K | 53% |
| Built year | 1954 | 1948 | 60% |
| HOA | $0 | $0 | 50% |
| Days on market | 46 | 165 | 3% |
Jun 5, 2026
$1,699,000
$1,799,000
-6% Price Drop
Initial Listing
May 10, 2026
$1,799,000
$1,929,000
-7% Price Drop
Initial Listing
Apr 21, 2026
$1,929,000
Initial Listing