Home of the Week: the Venice landmark Lantern House

The Lantern House, used as a single-family compound but legally a trio of cottages, has become a Venice landmark over the years. The funky vibed, colorful dwelling is being offered fully furnished, including the larger-than-life movie props, artwork and fountains.

Location: 745 Milwood Ave., Venice 90291

Asking price: $5.4 million

Year built: 1923

Last sold: 1988, for $232,000

Cottage sizes: Unit 1: one bedroom, one bathroom; Unit 2: one bedroom, one bathroom; Unit 3: one bedroom, one half-bath

Lot size: 5,399 square feet

Features: Den/office, dining room, living room, eat-in kitchen, vaulted ceilings, skylights, French doors, five fireplaces, lantern-filled trees, extensive decking, outdoor dining room, lighted deck stair risers, decorative wrought-iron gates, outdoor bathtub

About the area: In the third quarter, 59 single-family homes sold in the 90291 ZIP Code at a median price of $1 million, according to DataQuick. That was a 2.8% increase from the third quarter last year.

Agent: Richard Stanley, Coldwell Banker, (213) 300-4567

—Lauren Beale

To submit a candidate for Home of the Week, send high-resolution color photos on a CD, written permission from the photographer to publish the images and a description of the house to Lauren Beale, Business, Los Angeles Times, 202 W. 1st St., Los Angeles, CA 90012. Send questions to homeoftheweek@latimes.com.