Property listed by Dana Brody, Dana Brody 818-212-2757
$2,200,000
We are very pleased to exclusively offer for purchase 114 Paloma Avenue, a 6-unit apartment building located less than two blocks from the Pacific Ocean, situated on a beautiful Venice Walk Street surrounded by multi-million-dollar homes. Boasting a 95 Walkscore, 114 Paloma is being delivered with 4 of 6 units… Read More vacant, ready to be remodeled and re-rented at market rents. Unique opportunity to purchase a value-add multi-family investment property in prime Venice Beach. Located less than 2 blocks from the beach on a classic walk street. Walking distance to Main Street, Rose Avenue & Abbot Kinney, future residents of 114 Paloma will enjoy a true walker's paradise. Approx. 50% potential upside in rents. The 6-unit property consists of (4) one bedroom, one bath and (2) single, one bath apartments. The vintage units have hardwood floors and tile. Rear unit has access to a stunning and large backyard with tropical landscaping, gorgeous sitting area. The two front units have access to one large 30x30 yard, which creates a beautiful front entrance. 114 Paloma Avenue is a six-unit apartment building in the heart of Venice, CA, beautifully situated on a walk street less than two blocks from the Pacific Ocean. Built in 1910, the charming property is comprised of four one-bedroom, one-bathroom, and two studio units. This asset is situated two blocks from the beach and walking distance to Abbott Kinney, dubbed the coolest block in America, Main Street and Rose Avenue. This vibrant beach town offers countless activities, premier shopping and trendy restaurants. Known as Silicon Beach, the immediate area is a growing technology and startup hub. 114 Paloma Avenue presents today's savvy multi-family investor the unique opportunity to capitalize on nearly 70% vacancy, creating instant upside in rental income in one of the strongest and most desirable rental markets in the country. Read Less
Listing Snapshot
Days Online
20
Last Updated
Property Type
Other
Beds
4
Square Ft.
2,408
Lot Size
0.06 Acres
Year Built
1910
MLS Number
25594359
30 Days Snapshot Of 90291
$2.07M
-5%
(avg) sold price
12
-45%
homes sold
88
-11%
(avg) days on market
Snapshot
Area Map
Additional Details
Appliances & Equipment
Refrigerator
Building
Built in 1910, Building area total: 2,408, Levels: Two, Living area: 2408, 2 stories, 1 building, Architectural style: Bungalow, Attached, Common walls: OneCommonWall
Community
Gated
Cooling
None
Heating
ForcedAir
Income
Gross income: $177,540, Net operating income: $115,724
Based on information from California Regional Multiple Listing Service, Inc. as of and/or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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