$1,429,999 - 2 Bedroom, 1000 sq ft - Mar Vista Home! 1920's Spanish Style Home, Huge Lot, Expansion Ready (Mar Vista)

About This House

Now priced at $1,429,999!

This represents the most affordable property in Mar Vista situated on a lot of this scale, featuring only one standalone residence.

Property values in Mar Vista are no longer declining and have currently stabilized.

I have held this property for many years. When it is on the market, it is offered for either sale or lease, depending on which opportunity arises first.

The local real estate market experienced significant appreciation since the start of the Pandemic, with some properties increasing by as much as 50%.

This home is the lowest-priced in all of Mar Vista for a lot of this size that is not located next to the freeway.

The house is currently occupied by a tenant paying $4,560 monthly, with a lease concluding at the end of February. The tenant is interested in remaining but is willing to cooperate with the sale.

The present capitalization rate is approximately 2.7%. The only ownership expenses are property taxes and basic insurance, as the tenant covers all other costs.

Factoring in depreciation recapture could potentially elevate the investment return to around 5%.

This offers a solid position while you decide on potential expansions or renovations for the property.

I am offering for sale a charming and delightful Spanish-style home from the 1920s, located in Mar Vista.

The address is 4354 Coolidge Ave., Los Angeles, CA 90066.

The owner (myself) may provide financing for the entire loan with 35% down, at 6% interest for 2 years, interest-only. A cash offer is preferred.

The lot measures 5870 square feet, making this one of the most competitively priced homes available on a lot of this dimension.

Given recent legislative changes, you have the potential to construct a large primary residence, plus an accessory dwelling unit (ADU), and a junior ADU. Imagine three units on one property! There is also a possibility to subdivide the lot and build two units on each new parcel.

I would also entertain a joint venture proposal. Please call for specific details.

This is a truly charming house.

It features hardwood floors throughout. The kitchen, bathroom, and laundry room have all-new flooring. The bathroom has a new vanity and tub. The entire home has been thoroughly refreshed and feels revitalized. Please note, some photographs depict the previous bathroom and kitchen—both spaces now appear significantly newer and fresher.

Some images show the house furnished, and it accommodates substantial furniture pieces with ease.

The natural light is exceptional, making the interior feel exceptionally bright and airy.

The kitchen is large enough for dining and has numerous windows offering views of the yard.

The living room and dining room area is spacious; it could serve as a great room if dining occurs in the kitchen.

The refrigerator, stove, washer, and dryer are all included.

There is a two-car garage with additional parking for four cars on the driveway.

The yard is amazing. It is huge, features shade trees, a large deck overlooking the grounds, and ample space for new gardens or outdoor projects.

There is a work area both inside and behind the garage.

It is a beautiful home.

If this property isn\'t the right fit, please note I am a real estate broker with 45 years of experience and have been a real estate attorney for 42 years. I can assist you in finding the perfect house to rent or purchase.

This is likely the least expensive single-family home currently available on the market with a lot of this size.

Douglas Weitzman

Attorney at Law

Real Estate Broker (00614072)

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