821 Milwood Ave, Venice, CA 90291

821 Milwood Ave, Venice, CA 90291

Venice, CA

Property Description

821 Milwood Ave welcomes you to an incredibly unique duplex located in the coveted Oakwood neighborhood of Venice. This property features a 2-bedroom, 1-bath California craftsman style bungalow in the front and an attached one-of-a-kind original 30 foot high Venice Loft with 1-bedroom, 1-bath loft, a double-height studio which acts as a creatives’ dream workspace in the rear with its own bathroom, mezzanine, and a floor-to-ceiling garage door allowing for an incredible open-air work or entertainment space. The Loft was designed in the late 70’s by a young Steven Ehrlich and former home to the renowned American sculptor Guy Dill. The sun-filled top floor – the Treehouse – presents the perfect opportunity for a creative owner/user looking for an intimate yet cozy open-planned living space above their atelier with sweeping views of Los Angeles; surrounding mountainous landscape and their ever-changing scenery. The front unit is occupied with a long-term, stable tenant paying market rent and allows the owner to generate additional income. This property, zoned LAR2, is well-located just blocks from Abbot Kinney and minutes from the beach. In a city so dense with traffic, the ability to walk to local restaurants, markets, shops allows you to feel a part of the diverse community. The owner is highly motivated to sell and hopes to find someone who will fall in love with this artists’ paradise. When you see it, you will become enamored with the charm and uniqueness of this property!

Property Features

  • Sale Price: $1,845,000
  • Area Size: 2,028 SF
  • Land Area: 4,382 SF
  • Year Built: 1913
  • Listing Date: 10/1/2020
  • Closing Date: 1/29/2021
  • Units: 2
  • Current GRM: 25.94
  • Current Cap Rate: 2.40%
  • Price Per Unit: $900,000
  • Market GRM: 22.73
  • Market Cap Rate: 2.94%

Lyon Stahl Investment Real Estate

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