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Diego Magdaleno

1Vision Real Estate

diego@1visionproperties.com +1(714) 676-7271

$2,900,000

Est. payment - /mo

5 Beds

8 Baths

3,944 SqFt

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Key Details

Property Type Single Family Home

Listing Status Active

Purchase Type For Sale

Square Footage 3,944 sqft

Price per Sqft $735

MLS Listing ID 25553113

Bedrooms 5

HOA Y/N No

Year Built 1920

Lot Size 3,902 Sqft

Property Description

Paloma Realty Partners is proud to present 45 Paloma Avenue, an 8-unit value-add multifamily opportunity located just steps from the beach in the heart of Venice, one of Los Angeles' most sought-after rental markets. This offering includes eight existing units with the ability to add an ADU, with 3,944 SF of rentable space, situated on a 3,901 SF RD1.5-zoned lot. Positioned just minutes from Abbot Kinney, Rose Avenue, and the Venice Boardwalk, the property benefits from consistent tenant demand and walkable access to restaurants, shops, and major employment hubs. This is a compelling opportunity for investors seeking a stabilized Westside asset with value-add potential and built-in rent growth.The unit mix features 6 studios, and two two-bedrooms units. The seller has resided on the premises for 30 years, and the owners unit is a 2bd/2bth three story townhome with a private roof deck and ocean views. The property was updated in 2012 with new electrical, plumbing and roof throughout. With in-place income producing at a 5% cap rate and pro forma projections reaching 8%the asset provides both immediate yield and long-term upside. 50% LTV Seller financing available for qualified individuals, please connect with agents to learn more.

Location

State CA

County Los Angeles

Area C11 - Venice

Zoning LARD1.5

Interior

Cooling None

Fireplace No

Appliance Dryer, Washer

Laundry Common Area

Exterior

Parking Features None

Community Features Gated

Waterfront Description Ocean Front

View Y/N Yes

View Ocean

Building

Story 3

Entry Level Three Or More

Water Public

Level or Stories Three Or More

New Construction No

Others

Senior Community No

Tax ID 4286021020

Security Features Gated Community

Special Listing Condition Standard

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Listed by Oliver Fries Paloma Realty Partners, Inc.

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45 Paloma AVE Venice, CA 90291