45 Paloma Ave new Save Request In-Person Tour Request Virtual Tour
Venice,CA 90291
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
Square Footage 3,944 sqft
Price per Sqft $735
MLS Listing ID 25552891
Bedrooms 5
Year Built 1920
Lot Size 3,901 Sqft
Acres 0.0896
Property Description
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 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 Venice
Zoning LARD1.5
Interior
Heating Floor
Laundry Community
Building
Story 3
Water District
Others
Special Listing Condition Standard