428 Rialto Avenue, Venice, California 90291, Venice, 90291 - 5 bed, 3 bath
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Venice, California 90291
Analysis of 428 Rialto Avenue, Venice, California 90291 is currently available with a list price of $3,990,000. The property maintains a Fair Condition Rating (50/100), suggesting the property is in acceptable condition with potential for value enhancement through selective updates and improvements. Located in a high-demand neighborhood within the Venice Unified School District, this asset is categorized as a low-risk, high-reward acquisition suitable for both Buy-and-Hold Investors and Owner-Occupants willing to undertake light renovation work.
Property is moderate renovation needed.
Originally built in 1910, the property features two homes with dated interiors. While functional and well-maintained, the kitchens show renovations from different eras, with one featuring oak cabinetry and white appliances likely over 20 years old. The listing's focus on fully approved plans for a new 2,340 sq. ft. modern residence indicates the current structures, while livable, are reaching the end of their economic life for the area.
The property comes with fully approved plans and permits for a 2,340 sq. ft. modern beach house, offering a significant advantage by bypassing the lengthy and complex Venice entitlement process.
Ideally situated just steps from the high-end boutiques and dining of Abbot Kinney Boulevard and minutes from the beach, ensuring strong long-term appreciation and a desirable lifestyle.
The 5,100 sq. ft. double lot is a rare find in this high-density area, providing exceptional versatility for a family compound, dual rental income, or a large-scale custom build.
Lot size discrepancy between mls listing and other public or private record. mls listing lot size in square feet =5100, other record lot size in square feet = 2550. Living area discrepancy between mls listing and other public or private record. mls listing living area = 2080, other record living area = 1032. Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 5, other record bedroom count = 2.
With a list price of nearly $4 million for 2,080 existing square feet, the valuation is heavily weighted toward the land and permits rather than the current utility of the structures.
The original homes date back to 1910, which may present significant maintenance challenges or require costly updates for buyers not looking to immediately utilize the new construction plans.
Rarely does an opportunity like this come along, a double lot in a prime Venice location! This unique property features two charming single-family homes, currently serving as a family compound, offering endless possibilities. The first home is a delightful Craftsman-style 2-bedroom, 1-bath residence with vaulted ceilings that create an airy, light-filled space. The open-concept living area invites effortless flow and comfort. The second home, a spacious 3-bedroom, 2-bath gem, boasts similar open-plan living and extends seamlessly to a private, serene deck, perfect for soaking up the sunshine or hosting intimate gatherings. What makes this property even more special? Fully approved plans and permits are in place to build a stunning 2,340 sq. ft. modern beach house, making it an ideal investment for your future vision. Additional perks include parking for up to four cars, ample storage, and lush yard spaces to enjoy. Nestled close to the vibrant Abbot Kinney Boulevard and just minutes from the beach, this property combines charm, potential, and a coveted lifestyle. Don't miss this chance to create your dream in the heart of Venice!
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 5.0 | 3.0 | 87% |
| Baths | 3.0 | 3.0 | 50% |
| Square foot | 2,080 | 1,897 | 56% |
| Lot Size | 5,100 | 4,251 | 63% |
| Price | $3.99M | $2.31M | 89% |
| Price per sq ft | $1.9K | $1.3K | 85% |
| Built year | 1910 | 1947 | 6% |
| HOA | $0 | $0 | 50% |
| Days on market | 32 | 166 | 1% |
May 5, 2026
$3,990,000
Initial Listing
Feb 1, 2011
$775,000
Public Record
Jun 9, 1997
$165,000
Public Record