Description
**4-Unit Investment with Approved ADU Permits** Remodeled and thoughtfully upgraded over the years, 705 Flower Ave presents a rare opportunity to acquire a pride-of-ownership four-unit property in one of Venice's most sought-after neighborhoods. Originally constructed in 1939, the property blends classic architectural character with thoughtful modern updates, offering four light-filled studio apartments that retain much of their original charm. Offered at $1,775,000, the property consists of four studio units and four separately leased garages generating approximately $121,000 in scheduled gross income, along with fully approved ADU permits to convert the existing recreation room into a fifth unit. With permits already in place, a buyer can begin construction seamlessly and unlock additional rental income without the uncertainty of the entitlement process. Over the years, the owner has made substantial capital improvements, including updated electrical and plumbing systems, remodeled units, smooth stucco, new roofing, upgraded gas service, new decking, a new entry gate, and numerous other system upgrades that help reduce near-term capital expenditures. The property offers approximately 45% rental upside through the approved ADU conversion, allowing investors to add substantial value while acquiring a well-maintained asset with significant capital improvements already completed. Set on a 5,802-square-foot lot, the property features private decks and patios surrounded by lush greenery and garden landscaping, along with original hardwood flooring, spacious kitchens, and abundant natural light throughout the units. Ideally located in a quiet pocket of North Venice near the Santa Monica border, residents are just one block from Rose Avenue's popular restaurants and cafes, one block from Whole Foods Market, and approximately seven blocks from Venice Beach and Main Street Santa Monica. Combining timeless character, a premier Westside location, and exceptional value-add potential, 705 Flower Ave represents a compelling investment opportunity.
Details
| MLS # | 26853761 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active Under Contract |
| Year | 1939 |
| Days On Site | 53 |
| Listing Provided By | Lyon Stahl Investment Real Estate, Inc. | David Messiah |
Features
| Bed(s) | 4 |
|---|---|
| Bath(s) | 4 |
| SQ Feet | 1,540 |
| Garage | 4 |
| Story(s) | 1 |
| Units | 4 |
| Building(s) | 2 |
| Zoning | LARD1.5 |
| Acreage | 0.13 |
Interior
| Appliances | Refrigerator |
|---|
Exterior
| Security Features | Gated Community, Security Guard |
|---|
Parking
| Attached Garage Yes / No | No |
|---|---|
| Garage Yes / No | Yes |
Location
| Community Features | Gated |
|---|
Area Information
| State | CA |
|---|---|
| County | Los Angeles |
| City | Venice |
| Zip Code | 90291 |
| Area | C11 Venice |
| Listing VS Median (in 90291) | |
Price: $1,775,000 low | high Med: $2,599,999 sqft: 1,540 low | high Med: 2,673 $ / sqft: $1,153 low | high Med: $973 On site: 53 low | high Med: 58 | |
Market Activity 90291
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Learn More About This Property
| State | CA |
|---|---|
| County | Los Angeles |
| City | Venice |
| Zip Code | 90291 |
| Area | C11 Venice |
| Listing VS Median (in 90291) | |
Price: $1,775,000 low | high Med: $2,599,999 sqft: 1,540 low | high Med: 2,673 $ / sqft: $1,153 low | high Med: $973 On site: 53 low | high Med: 58 | |