1340 Morningside Way

3
Baths
2,184 Sq. Ft.
$1,149 / Sq. Ft.
2,184
Sq. Ft.
$1,149
per Sq. Ft.

Description

Premier double lot compound with two bungalows; a rare opportunity with many build and use options. What's your pleasure? Keep as a two-on-a-lot income property: Rehab the front house; live in one and rent the other. Demo and build your dream home on one of the largest lots in Venice? Or maximize profit via a small lot subdivision? The back house has 3 beds + 2 baths, was remodeled and expanded in 2017 and is operated as an Airbnb with monthly rates around 7k. The front house has 2 beds + 1 bath....Premier double lot compound with two bungalows; a rare opportunity with many build and use options. What's your pleasure? Keep as a two-on-a-lot income property: Rehab the front house; live in one and rent the other. Demo and build your dream home on one of the largest lots in Venice? Or maximize profit via a small lot subdivision? The back house has 3 beds + 2 baths, was remodeled and expanded in 2017 and is operated as an Airbnb with monthly rates around 7k. The front house has 2 beds + 1 bath. Each home is about 1,100 SF. Front house will be delivered vacant and back house can be as well, or use as rental income while you're designing/city planning your new home. Take advantage of current record low interest rates and also access to great construction financing in mid 4s! Seller could be willing to JV. Lots of flexibility and a rare opportunity in a great family-friendly Venice neighborhood. SFR renderings are conceptual only.
  1. Listed by Jackie Theis • DRE #01919227 • Brokerage DRE #01268376 • Power Brokers International

Property Details for 1340 Morningside Way

Water Front
None
Zoning
LAR1-V2
Style
California Bungalow
Parcel Number
4244020029
Total Units
2.0
Living Area
2184
Source Living Area
Assessor
Area
Venice (C11)
LISTING UPDATED: 04/27/2021 05:00 PM

Property Details for 1340 Morningside Way

StatusSold
MLS #21-708616
Days on Market1
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1953
Lot Size0.25 AC / 10,882 SF
CountyLos Angeles County

Location

Listing Courtesy of Power Brokers International, Jackie Theis, DRE #01919227

Sold By Coldwell Banker Realty, Eric Hartnack, DRE #02113497

Add your commute

Building Information for 1340 Morningside Way

Stories1Residences-Year Built1953Building Size-Lot Size0.25 AC / 10,882 SF

Payment Calculator

$14,959 per month

30 year fixed, 6.15% Interest

Principal and Interest

$12,233

Property Taxes

$2,726

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 1340 Morningside Way

Community / Development
Community / Development
  • Number Of Units: 2
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Assessor
  • Number Of Stories: 1
  • Number Of Buildings: 2
  • Type Of Units: Two on a lot
  • View: No
  • View Description: None
  • View: None
  • Direction Faces: North
  • Property Condition: Value Mainly In Land, Updated/Remodeled, Repair Cosmetic
Contract Info
Contract Info
  • Financing: Cash To New Loan
  • Disclosures: As Is
  • Listing Type: Exclusive Agency
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Scheduled
  • Gross Operating Income: $139,000
  • Net Operating Income: $101,000.00
  • Gross Income: $12,000
  • Cap Rate: 4.06%
  • Gross Rent Multiplier: $18.00
  • Actual Annual Gross Rent: $.00
  • Actual Gross Annual Income: $0
  • Actual Rent Total: $.00
  • Vacancy Allow Percent: 3.00%
  • Owner Pays: Water, Gardener
  • Total Annual Expense: 38000
Land / Lot Info
Land / Lot Info
  • Land Lease Type: Fee
  • Land Lease: No
  • Lot Acreage: 0.2498
  • Lot Size Square Feet: 10882
  • Lot Size Dimensions: 63x173
  • Source Lot Size Dimensions: Vendor Enhanced
  • Lot Location: Alley Access
Parking Details
Parking Details
  • Parking Garage: Driveway - Concrete, Garage Is Detached
  • Total Parking: 4
  • Open Other Spaces Total: 2
  • Garage Spaces Total: 2
  • Parking Features: Concrete
Interior Features
Interior Features
  • Room Type: Den
  • Rooms: Den, In-Law Suite
  • Levels: One, Ground Level
  • Fireplace Features: Living Room
  • Fireplace Rooms: Living Room
  • Den: Yes
  • Family Room: 0
  • Dining Room: 0
  • Cooling: None
  • Cooling Type: None
  • Heating: Wall Furnace
  • Heating Type: Wall
  • Flooring: Mixed, Laminate, Hardwood, Carpet
  • Equipment: Washer, Refrigerator, Range/Oven, Microwave, Dishwasher, Dryer
  • Common Walls: Detached/No Common Walls
  • Laundry: Garage, In Unit
Exterior Features
Exterior Features
  • Pool: No
  • Private Pool: No
  • Pool Description: None
  • Pool Features: None
  • Spa: Yes
  • Spa: Above Ground, Hot Tub
  • Other Structures: GuestHouse, Other
Lease Terms
Lease Terms
  • Entry Date: 03-25-2021
  • Tenant Pays: Gas, Electricity, Trash Collection, Water
Unit Details
Unit 1 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $.00
  • Unit Actual Rent: $.00
  • Unit Projected Rent: $4,000.00
  • Like Units: 1
Unit 2 Information
  • Unit Beds: 3
  • Unit Baths: 2
  • Unit Furnished: Yes
  • Unit Rent: $.00
  • Unit Actual Rent: $.00
  • Unit Projected Rent: $7,000.00
  • Like Units: 2
Unit Details
  • Unit Type Type: 2106, 2107
  • Number of Carpet: 1
  • Number of Dishwasher: 2
  • Number of Disposal: 2
  • Number of Drapes: 2
  • Number of Electric Meters: 2
  • Number of Gas Meters: 2
  • Number Leased: 0
  • Number Patio: 2
  • Number Range: 2
  • Number Refrigerator: 2
  • Number Rented Garages: 1
  • Number Wall AC: 0
  • Number Water Meters: 0
Tax and Assessed Info
Tax and Assessed Info
  • Private Transfer Taxes: No

Property History for 1340 Morningside Way

DateEvent & SourcePriceAppreciation
Aug 11, 2021

Expired

CRMLS #21692536

$2,595,000—
Aug 10, 2021

Expired

CLAW #21-692536

$2,595,000—
Apr 27, 2021

Price Change

CLAW #21-708616

$2,595,000—
Apr 27, 2021

Sold

CRMLS #21708616

$2,510,000—
Apr 27, 2021

Sold

CLAW #21-708616

$2,510,000—
Mar 25, 2021

Withdrawn / Cancelled

CRMLS #21692536

—
Mar 25, 2021

Pending

CRMLS #21708616

—
Mar 25, 2021

Pending

CLAW #21-708616

—
Mar 25, 2021

Accepting Backup Offers

CRMLS #21708616

—
Mar 25, 2021

Accepting Backup Offers

CLAW #21-708616

—
Mar 25, 2021

Listed (Active)

CRMLS #21708616

$2,595,000—
Mar 25, 2021

Listed (Active)

CLAW #21-708616

$2,595,000—
Mar 25, 2021

Withdrawn / Cancelled

CLAW #21-692536

$2,595,000—
Mar 15, 2021

Sold (Public Record)

Public Record #696873859

$2,510,000—
Mar 15, 2021

Sold (Public Record)

Public Record #1458135667

$2,510,000—
Mar 10, 2021

Accepting Backup Offers

CLAW #21-692536

—
Mar 10, 2021

Accepting Backup Offers

CRMLS #21692536

—
Feb 11, 2021

Listed (Active)

CLAW #21-692536

$2,595,000—
Feb 11, 2021

Listed (Active)

CRMLS #21692536

$2,595,000—
DateEvent & SourcePrice
08/11/2021

Expired

CRMLS #21692536

$2,595,000
08/10/2021

Expired

CLAW #21-692536

$2,595,000
04/27/2021

Price Change

CLAW #21-708616

$2,595,000
04/27/2021

Sold

CRMLS #21708616

$2,510,000
04/27/2021

Sold

CLAW #21-708616

$2,510,000
03/25/2021

Withdrawn / Cancelled

CRMLS #21692536

—
03/25/2021

Pending

CRMLS #21708616

—
03/25/2021

Pending

CLAW #21-708616

—
03/25/2021

Accepting Backup Offers

CRMLS #21708616

—
03/25/2021

Accepting Backup Offers

CLAW #21-708616

—
03/25/2021

Listed (Active)

CRMLS #21708616

$2,595,000
03/25/2021

Listed (Active)

CLAW #21-708616

$2,595,000
03/25/2021

Withdrawn / Cancelled

CLAW #21-692536

$2,595,000
03/15/2021

Sold (Public Record)

Public Record #696873859

$2,510,000
03/15/2021

Sold (Public Record)

Public Record #1458135667

$2,510,000
03/10/2021

Accepting Backup Offers

CLAW #21-692536

—
03/10/2021

Accepting Backup Offers

CRMLS #21692536

—
02/11/2021

Listed (Active)

CLAW #21-692536

$2,595,000
02/11/2021

Listed (Active)

CRMLS #21692536

$2,595,000

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 1340 Morningside Way

Taxable ValueLand$1,986,262Additions$730,861Total$2,717,123
Tax Record2025$32,718 ($2,726 / month)
Home Facts
Total Finished SqFt2,179 SqFtAbove Grade Finished SqFt2,179 SqFtLot Size10,882 SqFtStyleDuplexYear Built1923ZoningLAR1CountyLOS ANGELESAPN4244-020-029

Schools near 1340 Morningside Way

This home is within Los Angeles Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - 6 to 8
Public - 9 to 12
Charter - 9 to 12
Rating
School
Distance
Walgrove Avenue Elementary School
PublicK to 5

Venice Senior High School
Public9 to 12

Animo Venice Charter High School
Charter9 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass, Inc., its subsidiaries, affiliates and their agents and associated third parties expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Power Brokers International, Jackie Theis, DRE #01919227

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.