114 Paloma AVE new Save Request In-Person Tour Request Virtual Tour
Venice,CA 90291
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 2,408 sqft
Price per Sqft $913
MLS Listing ID 25594359
Bedrooms 4
Construction Status Repairs Cosmetic
HOA Y/N No
Year Built 1910
Lot Size 2,792 Sqft
Property Description
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 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.
Location
State CA
County Los Angeles
Area C11 - Venice
Zoning LAR3
Interior
Heating Forced Air
Cooling None
Fireplace No
Appliance Refrigerator
Exterior
Parking Features None
Community Features Gated
Waterfront Description Beach Access,Ocean Access
View Y/N Yes
View City Lights
Building
Faces North
Entry Level Two
Architectural Style Bungalow
Level or Stories Two
New Construction No
Construction Status Repairs Cosmetic
Others
Senior Community No
Tax ID 4286016029
Security Features Gated Community
Acceptable Financing Cash
Listing Terms Cash
Financing Cash
Special Listing Condition Standard