We all know that lot sizes in Venice are typically very small, as they were intended to house the charming craftsman and bungalow homes the area is famous for. However, for those of us looking for a little more space, it can be extremely difficult to find a lot over 5,000 square feet in a good location.

Luckily, this week’s Venice top property has got you covered as it boasts nearly a 12,000 square foot lot! 927 Coeur D’Alene is a special property that just hit the market on Friday for $2,950,000. The property was originally constructed in 1926 to house the Brothers Rectory and has since been remodeled into a 4 bedroom, 3 bathroom main house, and 2 bedroom, 2 bathroom guest house with its own separate entrance.

It is almost staggering to walk on to a lot this big in Venice, especially one with 5 garage spaces and outdoor parking for at least another 3 cars. The main house has a wonderful authentic Spanish style feel with several arches and balconies to add to the charm. The landscaping is exquisite and includes a few giant palm trees, which would be impossible to replace. The location is nice since it is just a stone’s throw from Abbot Kinney and the house is set back from the street to reduce noise.

The guesthouse is immaculate and is currently being rented for $3,000 a month. Based on our current rental market, there is upside in that rent up to at least $500 more a month. This is a nice way to offset some of the cost of ownership, or it be vacated and used as a private space for guests.

The main house could probably use a little updating, and I would reconfigure the outdoor patio space so that it is more inviting, but this is nitpicking. The house is in move-in condition and could be even more special with a little work.

The Week in Review: A Look at What’s New and What’s Sold

New Listings:

1. 46 Wavecrest Ave for $1,329,000.

2. 609 Boccaccio Ave for $1,100,000.

3. 643 Indiana Ave for $775,000.

Sold Listings:

1. 447 Sherman Canal for $2,675,000.

2. 825 Brooks Ave for $734,765.

3. 235 Main St #222 for $650,000.

If you have any questions about this top property or any of these homes — or the market in general — please do not hesitate to contact me.