Property
Beds
5
Full Baths
None
1/2 Baths
None
Year Built
1920
Sq.Footage
3,944
Paloma Realty Partners is proud to present 45 Paloma Avenue, an 8-unit value-add multifamily opportunity located just blocks 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 theVenice 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.
Features & Amenities
Interior
-
Total Bedrooms
5
Area & Lot
-
Lot Size(acres)
0.0896
-
Property Type
Residential Income
Exterior
-
Garage
No
-
Parking
None
Financial
-
Sales Price
$2,900,000
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Location
County
Los Angeles
Elementary School
Middle School
High School
Listing Courtesy of Oliver Fries , Paloma Realty Partners, Inc.
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