516 Venice Way, Inglewood, California 90302, Inglewood, 90302 - 3 bed, 2 bath

516 Venice Way, Inglewood, California 90302 home-pic-0
ACTIVE$490,000
516 Venice Way, Inglewood, California 90302
3Beds
2Baths
1,072Sqft
339,811,552Lot

Price Vs. Estimate

Estimation data not available

Key pros and cons

Top Pros:
Prime Location & Accessibility: Situated in the highly desirable 90302 zip code with unparalleled access to major freeways (405), nearby shopping centers, top-rated schools, world-class entertainment venues like SoFi Stadium and The Forum, and just 4 miles from LAX.
Top Cons:
Requires Cosmetic Updates: The property description indicates the unit 'may benefit from some cosmetic updates,' suggesting potential additional costs and effort for the buyer to modernize finishes.

Compared to the nearby listings

Price:$490.0K vs avg $426.8K (+$63,215)86%
Size:1,072 sqft vs avg 964 sqft71%
Price/sqft:$457 vs avg $45550%

More Insights

Built in 1989 (36 years old).
Condition: The property, built in 1989, has undergone significant and recent updates to key areas. The kitchen features modern light-toned cabinetry, granite countertops, stainless steel appliances, and contemporary pendant lighting, indicating a renovation likely within the last 5-15 years. The main living areas and one bedroom boast new, modern LVP flooring, and the fireplace has an updated mantel. While one bedroom retains older carpeting and an older ceiling fan, and the bathrooms are not shown, the overall impression is of a well-maintained and largely updated unit that is move-in ready with no immediate major renovations required.
Year Built
1989
Close
-
List price
$490K
Original List price
$490K
Price/Sqft
$457
HOA
$472
Days on market
-
Sold On
-
MLS number
CV25107952
Home ConditionGood
Features
View-

About this home

Welcome to 516 Venice Way Apt. 5, a charming 3-bedroom, 2-bathroom condominium nestled in the heart of Inglewood, CA 90302. This 1,086 sq. ft. residence offers a blend of comfort, convenience, and potential, making it an ideal choice for first-time homebuyers, investors, or those seeking a cozy urban retreat. Property Highlights: Spacious Living: Enjoy an open-concept layout with a cozy fireplace in the family room, perfect for relaxing evenings. Functional Kitchen: The kitchen features granite countertops, ample cabinetry, and a breakfast bar that seamlessly connects to the dining area. Private Parking: Benefit from two dedicated parking spaces in a gated garage, ensuring security and convenience. Community Setting: Located in a small, quiet complex of just 6 units, offering a peaceful living environment. HOA Amenities: Monthly HOA fee of $472 covers common area maintenance, trash, sewer, and water services. Prime Location: Situated in the highly desirable 90302 zip code, this condo offers unparalleled access to key destinations: Major Freeways: Easy access to the 405 freeway, facilitating smooth commutes to surrounding areas. Shopping Centers: Nearby shopping hubs include Centinela Park Place, La Brea Plaza, and Hyde Park Plaza, all within a 0.6-mile radius. Educational Institutions: Top-rated schools such as Highland Elementary (K-6), La Tijera K-8 Charter School Academy of Excellence, and Inglewood High School are within close proximity. Entertainment Venues: Experience world-class events at SoFi Stadium and The Forum, both just minutes away. PropertySimple Airports: Conveniently located 4 miles from Los Angeles International Airport (LAX), ideal for frequent travelers. Investment Opportunity: Priced at $519,000, this condo presents a unique opportunity to own in a rapidly appreciating area. While the unit may benefit from some cosmetic updates, its solid foundation and prime location offer significant potential for value appreciation. Don't miss the chance to make this condo your own. Contact us today to schedule a viewing and explore the possibilities that await at 516 Venice Way Apt. 5.

Price History

Date
Event
Price
12/17/24
Sold
$439,500
10/26/10
Sold
$185,000
05/31/02
Sold
$159,000
Condition Rating
Good

The property, built in 1989, has undergone significant and recent updates to key areas. The kitchen features modern light-toned cabinetry, granite countertops, stainless steel appliances, and contemporary pendant lighting, indicating a renovation likely within the last 5-15 years. The main living areas and one bedroom boast new, modern LVP flooring, and the fireplace has an updated mantel. While one bedroom retains older carpeting and an older ceiling fan, and the bathrooms are not shown, the overall impression is of a well-maintained and largely updated unit that is move-in ready with no immediate major renovations required.
Pros & Cons

Pros

Prime Location & Accessibility: Situated in the highly desirable 90302 zip code with unparalleled access to major freeways (405), nearby shopping centers, top-rated schools, world-class entertainment venues like SoFi Stadium and The Forum, and just 4 miles from LAX.
Secure Dedicated Parking: Benefits from two dedicated parking spaces within a gated garage, providing essential security and convenience in an urban setting.
Strong Investment Potential: Priced to offer a unique opportunity in a rapidly appreciating area, with a solid foundation and prime location promising significant value appreciation for investors or future resale.
Functional Kitchen Features: The kitchen boasts granite countertops, ample cabinetry, and a breakfast bar, offering a modern and practical space for daily living and entertaining.
Peaceful Community Setting: Located within a small, quiet complex of only 6 units, ensuring a more private and serene living environment compared to larger condominium developments.

Cons

Requires Cosmetic Updates: The property description indicates the unit 'may benefit from some cosmetic updates,' suggesting potential additional costs and effort for the buyer to modernize finishes.
Substantial Monthly HOA Fee: The monthly HOA fee of $472, while covering common area maintenance, trash, sewer, and water, is a significant recurring expense that could impact affordability and cash flow.
Potential Lack of Modern Cooling System: The property description does not mention a central air conditioning system, which, given the 1989 build year, suggests it may lack modern cooling, potentially impacting comfort during warmer months.

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