3003 Grand Canal, Venice, California 90291, Venice, 90291 - 1 bed, 1 bath
ACTIVE$2,095,000
3003 Grand Canal, Venice, California 90291
1Bed
1Bath
454Sqft
4,102Lot
Price Vs. Estimate
The estimated value ($2,219,237.09) is $124,237.09 (5%) higher than the list price ($2,095,000). This property may be underpriced.
Key pros and cons
Top Pros:
Prime Waterfront Location: Situated on the iconic Venice Canals, specifically along the largest canal, offering unparalleled water views and a highly sought-after waterfront lifestyle.
Top Cons:
Limited Existing Living Space: The current structure is a very small 1-bedroom, 1-bathroom bungalow (454 sqft), which is highly restrictive for most modern living standards and the property's price point.
Compared to the nearby listings
Price:$2.10M vs avg $2.29M ($-195,000)36%
Size:454 sqft vs avg 1,831 sqft3%
Price/sqft:$4.6K vs avg $1.3K99%
More Insights
Built in 1943 (82 years old).
Condition: Built in 1943, this property is an older home that has received some cosmetic updates, including hardwood flooring, a refreshed bathroom with a modern vanity and barn door, and a split AC unit for cooling. While clean and well-maintained, the overall condition suggests it has not undergone an extensive, recent renovation. The windows appear older, and the kitchen's condition is not visible but likely basic given the small square footage. It functions as a 'charming bungalow' but shows its age with outdated components and lacks modern amenities like central air, aligning with a 'fair' condition where it's aged but maintained, and major components are functional but show signs of being outdated.
Year Built
1943
Close
-
List price
$2.1M
Original List price
$2.1M
Price/Sqft
$4,615
HOA
-
Days on market
-
Sold On
-
MLS number
25607419
Home ConditionFair
Features
Excellent View: Canal, Water
ViewCanal, Water
About this home
An amazing opportunity to own a historic piece of real estate on the iconic Venice Canals. Nestled along the largest canal, this waterfront site is a unique offering for inspired developers and homeowners alike. Build your dream home with one of the largest single family lots in the area or use the standing charming bungalow as your personal retreat or income property, the potential is endless. Conveniently located between Washington and Venice Boulevard, featuring some of the best dining and entertainment the west side has to offer, and just a moment away from the vibrant Venice Beach. The quintessential California life style awaits you.
Price History
Date
Event
Price
02/18/22
Sold
$1,750,000
10/10/17
Sold
$2,100,000
Condition Rating
Fair
Built in 1943, this property is an older home that has received some cosmetic updates, including hardwood flooring, a refreshed bathroom with a modern vanity and barn door, and a split AC unit for cooling. While clean and well-maintained, the overall condition suggests it has not undergone an extensive, recent renovation. The windows appear older, and the kitchen's condition is not visible but likely basic given the small square footage. It functions as a 'charming bungalow' but shows its age with outdated components and lacks modern amenities like central air, aligning with a 'fair' condition where it's aged but maintained, and major components are functional but show signs of being outdated.
Pros & Cons
Pros
Prime Waterfront Location: Situated on the iconic Venice Canals, specifically along the largest canal, offering unparalleled water views and a highly sought-after waterfront lifestyle.
Significant Development Potential: Features one of the largest single-family lots in the area (4102 sqft), presenting an exceptional opportunity for developers or homeowners to build a custom dream home.
Versatile Property Use: The existing charming bungalow can serve as a personal retreat, an income-generating rental property, or be redeveloped, offering immediate utility and flexibility.
Desirable Lifestyle & Amenities: Conveniently located between Washington and Venice Boulevard, providing easy access to world-class dining, entertainment, and the vibrant Venice Beach.
Strong Investment Opportunity: A rare chance to acquire a historic piece of real estate in a prime, appreciating Venice market, promising significant long-term value.
Cons
Limited Existing Living Space: The current structure is a very small 1-bedroom, 1-bathroom bungalow (454 sqft), which is highly restrictive for most modern living standards and the property's price point.
High Price for Existing Structure: The list price of $2.095M primarily reflects the land value and prime location, not the modest size and age of the existing 1943 bungalow, implying significant investment beyond purchase.
Redevelopment Costs & Complexity: While offering development potential, building a new home on the canals will entail substantial construction costs, architectural planning, and navigating local permitting processes.