2478 1/2 Penmar Avenue, Venice, California 90291, Venice, 90291 - 4 bed, 4 bath

2478 1/2 Penmar Avenue, Venice, California 90291 home-pic-0
ACTIVE$4,495,000
2478 1/2 Penmar Avenue, Venice, California 90291
4Beds
4Baths
4,141Sqft
3,124Lot
Year Built
2019
Close
-
List price
$4.5M
Original List price
$4.5M
Price/Sqft
$1,085
HOA
-
Days on market
-
Sold On
-
MLS number
25484911
Home ConditionExcellent
Features
Good View: City Lights, Courtyard
Deck
Spa
Patio
ViewCity Lights,Courtyard

About this home

We found 4 Cons,5 Pros. Rank: price - $4.50M(92th), sqft - 4141(94th), beds - 4(63th), baths - 4(76th).

Experience the ultimate in modern Venice living with this striking 4-bedroom, 3.5-bath new construction home, completed in 2019. Boasting an expansive 4,100 sq ft, this thoughtfully designed residence seamlessly blends contemporary style and sustainability. Concrete floors, steel framing, and energy-efficient solar set the tone for a bright, open-concept layout that invites natural light throughout. Entertain with ease in the spacious living areas or retreat to one of the sunlit courtyards for a moment of tranquility. A highlight of this home is the impressive rooftop deck, outfitted with a hot tub, where you can take in sweeping city views. Located just steps from Venice's trendiest shops, acclaimed dining, and the iconic beach, you'll be able to immerse yourself in the neighborhood's vibrant culture with ease. Flexible Ownership Options: The property currently has a tenant in place until April 2025, but can be delivered vacant for those seeking an immediate move-in or new tenant. Alternatively, if you're looking for an investment opportunity, the existing lease can remain in place, providing immediate rental income. Bonus Opportunity: A similar, slightly smaller property is also available (MLS# 25-484797). Both can be purchased together for $7.9M. A rare chance to expand your real estate portfolio in one of Los Angeles' most coveted neighborhoods. Don't miss this opportunity to own a piece of Venice's contemporary coastal lifestyle.

Condition Rating
Excellent

This property is a new construction home completed in 2019, making it only 5 years old. The description highlights contemporary style, concrete floors, steel framing, and energy-efficient solar, indicating high-quality, modern materials and systems. The kitchen and bathrooms, as expected in a new build of this caliber, feature modern designs, fixtures, and appliances. All components are virtually new, meeting current quality standards with no deferred maintenance, aligning perfectly with the 'excellent' condition criteria.
Pros & Cons

Pros

New Construction & Modern Design: Completed in 2019, this home boasts contemporary style with durable concrete floors, steel framing, and energy-efficient solar, ensuring modern aesthetics and sustainability.
Prime Venice Location: Situated just steps from Venice's trendy shops, acclaimed dining, and the iconic beach, offering an unparalleled vibrant coastal lifestyle.
Spacious & Bright Living Areas: An expansive 4,100 sq ft residence featuring a bright, open-concept layout that invites natural light throughout, complemented by sunlit courtyards.
Rooftop Deck with Premium Amenities: Includes an impressive rooftop deck outfitted with a hot tub, providing sweeping city views perfect for entertaining or relaxation.
Flexible Investment/Occupancy Options: Offers versatile ownership with options for vacant delivery or continued rental income from the existing tenant, plus a unique opportunity to expand a real estate portfolio by purchasing an adjacent property.

Cons

Low Available Lot Utilization: The property has a small lot size, more than 70 percent of which is taken by its living area. lot size in square feet = 3124, living area = 4141.
Current Tenant Occupancy: The property is tenant-occupied until April 2025, which may delay immediate owner-occupancy for buyers seeking a quick move-in.
Relatively Small Lot Size: With a lot size of 3,124 sq ft for a 4,100 sq ft home, traditional outdoor ground space may be limited, focusing more on vertical living and courtyards.
High-End Price Point: The $4.495M list price positions this property in a very exclusive luxury market segment, potentially narrowing the pool of prospective buyers.

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