117 Paloma Ave - Apartments FOR SALE


Venice, CA 90291
$3,195,000 USD
213-866-9801
117 Paloma Ave, Venice, CA for Sale
$3,195,000 USD
Apartments - FOR SALE
1/17
null | 4.99% Cap Rate

117 Paloma Ave
Venice, CA 90291


HIGHLIGHTS

  • 9-units Prime Venice
  • Located across the street from Google Headquarters & future development for Venice Metro Yard
  • Close to Venice Boardwalk, restaurants, shops and major employment hubs
  • Several of the kitchens and bathrooms have been remodeled
  • Hardwood floors
  • Copper plumbing and earthquake retrofitted

OVERVIEW

117-117 1/2 is a 9-unit apartment building located in the heart of Venice. It is located across the street from the Google Headquarters and the future site of the 341 - unit development for the Venice Metro Yard. The development plan features 12,900 square feet of public open space, a pedestrian crossing for beach access and integration of the existing Vietnam War Memorial. In addition, the project offers 30,000 square feet of commercial space and a subterranean parking garage for residents, commercial tenants, and beach visitors. The property consists of a 2 bedroom + 1 bath house over the garage, 4 - 1 bedroom + 1 bath and 4 Studios. Long term owner - first time on the market in more than 40 years. The property is individually metered for electricity. The 4 Studios are master metered for gas. The remaining 5 units are individually metered for gas. It has copper plumbing and been earthquake retrofitted. Several of the kitchens and bathrooms have been remodeled. The units have hardwood floors. There is on site laundry. The other income is from laundry, parking and garage. The property is located less than 2 blocks from Pacific Ocean on a beautiful walk street surrounded by multi-million dollar homes. It has a 94 Walkscore - close to Abbott Kinney, Main Street, Rose Avenue and the Venice Boardwalk.

FOR SALE DETAILS

PRICE

$3,195,000 USD

PRICE/SF

$846 USD /SF

# OF UNITS

9

PRICE/UNIT

$355,000

CAP RATE

4.99%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1922

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.09 AC

LAND SF

3,788 SF

ZONING

LAR3

APN/PARCEL ID

4286-016-020

ASK ABOUT THIS PROPERTY

Michael SalernoLee & AssociatesMore Info
213-866-9801

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Michael SalernoLee & AssociatesMore Info
213-866-9801

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.