$675,000

VENICE ISLAND DUPLEX WITH CONFIRMED DUPLEX REBUILD RIGHTS | GENEROUS 1/3-ACRE LOT | WALK TO BEACH & HISTORIC DOWNTOWN! Discover an exceptional opportunity to own an income-producing duplex on Venice Island, with established rental income and confirmed redevelopment potential! Situated on an oversized 14,700-square-foot parcel, just a short stroll from Venice Beach and historic downtown, this property is zoned RMF1 (Residential Multi-Family), permitting duplex use by right. The City of Venice has confirmed in writing that the existing structure may be demolished and replaced with a new two-unit duplex, subject to applicable building regulations, permitting and approvals. Enjoy the income today while considering the possibilities for tomorrow! Situated in desirable Flood Zone X, with no reported history of flooding or storm damage, each residence features a private entrance, two bedrooms, one bathroom, and an open-plan living area with a casual dining space adjoining the kitchen. From the living room, step onto your own screened porch with attractive travertine flooring. Additional amenities include two covered parking spaces and a shared laundry/utility room with a convenient third bathroom. Outside, the landscaped grounds offer abundant space to relax, entertain or create an outdoor oasis. Tall Areca palms provide excellent privacy along the rear boundary, while the expansive lawn offers room for recreation, a future swimming pool or outdoor living area. Both residences are currently leased through April 2027, providing established rental income from day one. Whether you're seeking a long-term investment, considering future seasonal rentals, planning to occupy one residence while renting the other, or exploring redevelopment, this versatile property offers exciting possibilities. An exceptional combination of location, land, income and future potential on beautiful Venice Island! The owners are also selling a second duplex with the same zoning nearby at 320 Parkside Dr, Venice — see MLS #A4710945.