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Davis Saadian
Carolwood Estates
310-623-3600
We are pleased to offer for sale this six (6) unit multifamily investment opportunity located in the prestigious and sought-after neighborhood within the Pacific Palisades, perfectly perched between the ocean bluffs and Palisades Village. This beautiful Spanish architecture, consisting of two separate structures, was constructed of wood frame and stucco on a raised foundation built in 1924 with a square footage of 4,620 on a 7,500-square foot lot. The building has been reinforced and upgraded in compliance with the latest city codes and regulations, and is comprised of a remarkable unit mix, consisting of three (3) 1+1 units, two (2) studio units, and one (1) 2+1 unit (legal 1+1 unit). Three (3) units will be delivered vacant, and two (2) of the 6 units are not subject to City of Los Angeles rent control regulations. The investment boasts spacious floor plans, in-unit washer & dryers for the four front units, four (4) on-site private garages, five tankless water heaters, private balconies for the two front upstairs units, recently painted, and individually metered for gas and electricity. Approximately $165,000 was put into capital improvements updating and remodeling three of the units extensively. New sewer line, new roof, updated copper plumbing, new carpeting, HVAC, and refinished/ polished hardwood floors.The possibilities are endless; excellent for an owner user investment, or the value-add component of potential rental upside, and adding ADU's to further increase cash-flow.The charming and lively Palisades Village has many world-renowned cafes and restaurants, premier shops like Yves Saint Laurent, Chanel, Erewhon, Alfred's Coffee, Diptique, and many more. This is an incredible and rare opportunity in the supply constrained Pacific Palisades.
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Total Bedrooms : 7
Total Baths: 6
Full Baths: 0
Half Baths: 0
Interior Features: Ceiling Fan(s)
Property Appliances: Dishwasher,Disposal,Refrigerator,Dryer,Washer
Flooring: Wood
Year Built: 1924
Building Area Total: 4,620
Common Area
Lot Dimensions Source: Vendor Enhanced
Lot Size Acres: 0.1722
Lot Size Source: Vendor Enhanced
Lot Size Square Feet: 7502
Original List Price: 3,625,000
Listing Contract Date: 2024-04-05
Listing Agreement: Seller Reserved
Parcel Number: 4412018007
Garage Description: Assigned,Driveway
Lease Term: Negotiable
Source Listing Status: Active
Source Neighborhood: C15 - Pacific Palisades
Postal Code Plus 4: 4306
Directions: 556 Via De La Paz, Pacific Palisades 90272
Zoning: LAR1
Source Property Type: Residential Income
Area: C15 - Pacific Palisades
Property Age: 100
Year Built Source: Vendor Enhanced
Total Square Feet Living: 4620
Levels or Stories: Two
Building Total Stories: 2
Address | Estimate | Bed | Bath | Sq. Ft | Lot Size |
---|---|---|---|---|---|
16321 B Pacific Coast, Pacific Palisades, CA,90272 | $1,795,000 | 4 | 2 | 1,926 | 883701.72 Sqft |
814 Toulon Drive, Pacific Palisades, CA,90272 | $23,995,000 | 6 | 3 | 8,008 | 18604 Sqft |
932 Rivas Canyon Road, Pacific Palisades, CA,90272 | $13,795,000 | 7 | 9 | 10,929 | 32882 Sqft |
1172 Lachman Lane, Pacific Palisades, CA,90272 | $5,649,000 | 4 | 3 | 3,203 | 9694 Sqft |
16719 Bollinger Drive, Pacific Palisades, CA,90272 | $3,950,000 | 4 | 3 | 3,048 | 5070 Sqft |
Scenic Place, Pacific Palisades, CA,90272 | $5,995,000 | -- | -- | -- | 468438 Sqft |
712 Muskingum Avenue, Pacific Palisades, CA,90272 | $3,200,000 | 3 | 3 | 2,053 | 5417 Sqft |
1425 Chautauqua Boulevard, Pacific Palisades, CA,90272 | $6,950,000 | 3 | 3 | 3,282 | 26462 Sqft |
Land, Pacific Palisades, CA,90272 | $9,995,000 | -- | -- | -- | 91301 Sqft |
1362 Bella Oceana Vista, Pacific Palisades, CA,90272 | $29,995,000 | 6 | 7 | 12,900 | 37122 Sqft |
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ByOwner last updated this listing 04/29/2024 @ 18:49
MLS: 24376737
LISTED BY: Davis Saadian, Carolwood Estates
SOURCE: CRMLS
Buyer Agency Compensation: 2.25%
Buyer Agency Description: The listing broker's offer of compensation is made only to participants of the MLS where the listing is filed and if applicable, to participants of reciprocating MLS's as set forth in Association/MLS reciprocal agreements.