1257 Preston Way, Venice, California 90291, Venice, 90291 - 3 bed, 2 bath
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Venice, California 90291
This property represents a High-Potential Investment Opportunity, listed at $1,995,000—positioned above the $1,907,423 Fair Market Value. While the price reflects the premium land value of this 5,690 sqft corner lot, the Fair Condition Rating and vintage 1926 infrastructure suggest significant upside for redevelopment. Featuring a renovated retro caravan and private patio, the home offers immediate utility while builders capitalize on the prime Venice location. This is an ideal acquisition for Development-Focused Investors or Owner-Occupants seeking a unique, soulful compound with massive long-term appreciation potential.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 1257 Preston Way Subject | $1,995,000* List Price | 3 | 2 | 1,285 | $1,484 | - |
A 2141 Glyndon Avenue Sold | $2,050,000 | 3 | 2 | 1,595 | $1,285 | 0.4 mi |
B 727 Coeur D Alene Avenue Sold | $1,551,000 | 3 | 2 | 1,149 | $1,350 | 0.9 mi |
C 2124 Glyndon Avenue Sold | $2,050,000 | 2 | 1 | 1,239 | $1,655 | 0.3 mi |
D 703 Boccaccio Avenue Sold | $1,715,000 | 2 | 2 | 1,365 | $1,256 | 0.9 mi |
E 980 Vernon Avenue Sold | $1,999,000 | 2 | 3 | 1,563 | $1,279 | 0.5 mi |
F 2247 Penmar Avenue Active | $1,700,000 List Price | 3 | 1 | 1,195 | $1,423 | 0.5 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 1926, this property is marketed as a 'restored' Spanish bungalow, but the kitchen and bathrooms maintain a 'retro' and dated aesthetic exceeding 20 years in style. While the addition of a modern mini-split HVAC and the 'meticulously restored' status suggest it is move-in ready, the listing's heavy emphasis on the lot's potential for new construction and the age of the core finishes align with the 'Fair' category.
The property sits on a rare and generous 5,700 sqft corner lot, offering significant upside for builders to create a modern compound in a neighborhood surrounded by multi-million dollar new construction.
Ideally situated in a peaceful residential pocket, the home is within walking or biking distance to the high-end dining and shopping of Abbot Kinney, Rose Avenue, and the beach.
This soulful 1926 Spanish bungalow features restored original details and includes a renovated retro caravan in the backyard, providing a stylish guest retreat or creative home office.
Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 3, other record bedroom count = 2.
With only 1,285 square feet of living space at a nearly $2 million price point, the value is heavily weighted in the land rather than the size of the existing residence.
Despite meticulous restoration of its character, the 1926 structure may require ongoing maintenance or upgrades to meet the efficiency and structural standards of modern architectural homes.
To live in or to build, that is the question. Situated on a rare, generous, and highly coveted close to 5,700 sft corner lot, this property offers the ultimate Venice opportunity. Located on two of the neighborhood's peaceful, most residential streets, this property is ready for its next chapter, whether that means living in it and enjoying its rich history or building a spectacular new modern compound. For the builder, it offers a prime, sun-drenched corner footprint with massive upside potential surrounded by multi-million dollar new construction. For the end-user, it is a slice of classic Venice culture. This light-filled Spanish bungalow features meticulously restored original character, bright southern exposure, and a seamless indoor-outdoor flow. The main house includes a welcoming living room with a fireplace, a charmingly restored retro kitchen, and a unique, cabin-like primary suite boasting a massive fireplace and a classic Dutch door leading to the yard. Step outside into a private, lanai-style enclosed sanctuary or retreat to the expansive, tranquil backyard, ideal for entertaining and coastal breezes. The ultimate Venice bonus is a renovated, ultra-hip retro caravan in the backyard, perfect for a creative studio, home office, or guest retreat. Located in a peaceful, tight-knit pocket just moments from Abbot Kinney, Rose Avenue, and the beach, you can walk or bike to the great schools, dining, and shopping the Westside has to offer. Live in a stylish, soulful compound today, or build an unforgettable architectural masterpiece tomorrow. Photos of the appliances and caravan are before renovation, and appliances were replaced with new ones..
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 | 1,285 | 1,892.5 | 29% |
| Lot Size | 5,690 | 4,255.5 | 77% |
| Price | $2.00M | $2.31M | 36% |
| Price per sq ft | $1.6K | $1.3K | 71% |
| Built year | 1926 | 1948 | 34% |
| HOA | $0 | $0 | 50% |
| Days on market | 15 | 165 | 1% |
May 22, 2026
$1,995,000
Initial Listing