Property Description

A rare R3-zoned corner lot with a spacious main home and a legal two-bedroom secondary residence (each with its own address, separate entrance, and private outdoor space) offers an exceptional opportunity to enjoy the comfort and yard space of a single-family home while offsetting monthly ownership costs with rental income. Located less than one mile from the beach in Playa del Rey, this versatile property combines coastal living with immediate income and future development potential. The main home welcomes you from 83rd Street, while the detached two-bedroom unit has its own entrance from Falmouth. A generous central courtyard provides inviting space for outdoor dining, entertaining, and play, while separating the main residence from the detached three-car garage and the unit above. The layout gives both homes a distinct sense of privacy. Beautifully updated and newly re-roofed, the main residence features four bedrooms, three bathrooms, and approximately 2,268 square feet of bright, open living space. A large renovated kitchen connects seamlessly with the dining area and family room, creating an easy flow for daily life and gatherings. The spacious primary suite offers soaring lofted ceilings, a fireplace, and a generous walk-in closet. Thoughtful renovations throughout make the home move-in ready.Above the detached three-car garage, the renovated, approximately 783-square-foot secondary residence includes two bedrooms and one bathroom. Currently leased month-to-month at $2,953 per month, it provides an established income stream and flexibility for future use.R3 zoning adds another dimension to the opportunity, with potential for up to seven units, subject to buyer verification and applicable approvals. Explore possibilities for expansion, redevelopment, or conversion of garage and storage space, or enjoy the existing combination of a comfortable primary home and an income-producing second residence.Close to the beach, bike path, LMU, neighborhood shops, restaurants, parks, and major commuter routes, this distinctive property offers space to live, income to support ownership, and possibilities for the future.Buyer to verify all square footage, permits, zoning, and development opportunities.

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Property Details