563 Brooks Avenue, Venice, California 90291, Venice, 90291 - 2 bed, 2 bath
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563 Brooks Avenue
Venice, California 90291
ACTIVE
CONDITION: TEAR DOWN
2Beds
2Baths
1,242Sq Ft
5,281Lot Size
Property Price
LIST PRICE$2,199,999
EST. MARKET VALUE
$1,724,970
27% AboveMARKET VALUE
SUMMARY
This property presents a High-Potential Investment Opportunity with a List Price of $2,199,999—positioned above the $1,724,970 Fair Market Value. While the current Condition Rating of 6 reflects an aging 1939 structure, the 5,281 sqft lot with Multi-Unit Zoning provides significant upside for developers. The site offers a rare chance to maximize density in the high-demand Oakwood neighborhood. This is a strategic acquisition for Real Estate Developers or Buy-and-Hold Investors focused on long-term land value and multi-unit development potential.
Estimated Market Value
$1,724,970
Based on Realkey algorithm analyzing recent comparable sales in Venice.
Comparable Sales Map
Comparables within 1 miles sold in recently
Map unavailable.
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 563 Brooks Avenue Subject | $2,199,999* List Price | 2 | 2 | 1,242 | $1,389 | - |
A 2247 Penmar Avenue Sold | $1,600,000 | 3 | 1 | 1,195 | $1,339 | 1.0 mi |
B 727 Coeur D Alene Avenue Sold | $1,551,000 | 3 | 2 | 1,149 | $1,350 | 1.0 mi |
C 410 Broadway Street Active | $2,000,000 List Price | 2 | 1 | 917 | $2,181 | 0.2 mi |
* Subject property listed price vs sold prices of comps.
Condition Analysis
See Full ReportOVERALL CONDITION SCORE
Tear down
TeardownExcellent
Property is land value only, full reconstruction required.
Built in 1939 (>80 years old) with no evidence of recent renovations. The listing is explicitly marketed to investors and developers as a development opportunity for multi-unit living, and the inclusion of a 'digitally cleared' lot image indicates the primary value is in the land rather than the existing structure.
PROSSTRENGTHS & OPPORTUNITIES
- Significant Development Potential
The property features a flat 5,300-square-foot lot zoned for multi-unit living, providing a rare opportunity to develop up to four dwelling units in a high-demand Venice submarket.
- Prime Coastal Location
Ideally positioned in the desirable Oakwood neighborhood, the property is just moments from the beach and the world-class shopping and dining of Abbot Kinney Boulevard.
- Versatile Investment Appeal
With a detached two-car garage and ample off-street parking, the site caters to a variety of buyers, from developers to end-users looking to renovate a classic 1939 residence.
CONSRISKS & DEFICIENCIES
- Extensive Renovation Needs
The existing 1939 structure is likely dated and will require significant capital expenditure to modernize or may necessitate a complete teardown to maximize the lot's value.
- High Entry Price for Land
At a list price of $2.2 million, the acquisition cost is high for a property where the primary value lies in the land and future development rather than the current improvements.
About 563 Brooks Avenue
Calling all investors, developers, and end users. An exceptional opportunity to reimagine or develop a flat lot spanning nearly 5,300 square feet in Oakwood, one of Venice's most desirable neighborhoods. Zoned for multi-unit living, the property offers the potential to develop one to four dwelling units, presenting a compelling opportunity for a variety of uses. The existing residence features 2 bedrooms and 1.5 bathrooms and may also be renovated and enhanced for those looking to preserve the current home. Additional features include off-street parking and a detached two-car garage. Ideally positioned just moments from Abbot Kinney, the beach, acclaimed dining, shopping, and the best of the Venice lifestyle, this is a rare opportunity to create something truly special in one of Venice's most coveted pockets.
Property Details
Public Facts
- Property Type
- Single Family Residence
- Year Built
- 1939
- Lot Size
- 5,281 Sq. Ft.
Interior
- Total Bedrooms
- 2
- Total Bathrooms
- 2 (2 Full, 0 Half)
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $0 / Month
Neighborhood Insights
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 2.0 | 3.0 |
| Baths | 2.0 | 2.2 |
| Square foot | 1,242 | 1,642.642 |
| Lot Size | 5,281 | 4,668.434 |
| Price | $2.20M | $2.30M |
| Price per sq ft | $1.8K | $1.4K |
| Built year | 1939 | 1943 |
| HOA | $0 | $401 |
| Days on market | 20 | 57 |
Pricing History
Listed for Sale
Aug 20, 2026
$2,199,999
Initial Listing