Property listed by Paloma Realty Partners, Inc., Oliver Fries 310-392-2436
$2,900,000
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… Read More 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. Read Less
Listing Snapshot
Days Online
4
Last Updated
Property Type
Other
Beds
5
Square Ft.
3,944
Lot Size
0.09 Acres
Year Built
1920
MLS Number
25553113
30 Days Snapshot Of 90291
$2.40M
-10%
(avg) sold price
20
-16%
homes sold
79
-2%
(avg) days on market
Snapshot
Area Map
Additional Details
Appliances & Equipment
Dryer, Washer
Building
Built in 1920, Building area total: 3,944, Levels: ThreeOrMore, Living area: 3944, 1 building
Community
Gated
Cooling
None
Income
Gross income: $220,644, Net operating income: $146,510
Laundry
CommonArea
Lot
0.0896 acres, 3,901 square feet, Size: 3,901
Parking
None
Property
Zoning: LARD1.5, Ocean, OceanFront
Security Features
GatedCommunity
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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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