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- LoopNet Team
39 Paloma Ave
Venice, CA 90291
Call for Offers Date: 11-13-20 · Multifamily Property For Sale
·
14 Units
INVESTMENT HIGHLIGHTS
- Court Ordered Partition Sale - Subject to Court Approval and Overbid
- Well Maintained Asset with Secured Parking for 19 Cars
- One Block to the Sand with Direct Access to a Walk Street
- Excellent Unit Mix, Spacious Units, Several Units with Loft-Style Layouts
- Over 25% Potential Upside in Rents, 3 Units Delivered Vacant
PROPERTY FACTS
| No. Units | 14 | Building Size | 12,178 SF |
| Property Type | Multifamily | Average Occupancy | 79% |
| Property Subtype | Apartment | No. Stories | 3 |
| Apartment Style | Low-Rise | Year Built | 1972 |
| Building Class | C | Parking Ratio | 1.72/1,000 SF |
| Lot Size | 0.18 AC | ||
| Zoning | LARD1.5 | ||
| No. Units | 14 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.18 AC |
| Building Size | 12,178 SF |
| Average Occupancy | 79% |
| No. Stories | 3 |
| Year Built | 1972 |
| Parking Ratio | 1.72/1,000 SF |
| Zoning | LARD1.5 |
ABOUT 39 PALOMA AVE , VENICE, CA 90291
Tim Steuernol of NAI Capital, Inc. is pleased to present 39 Paloma Ave in Venice, CA. The asset is a 14 unit 12,178 square foot apartment building situated on a 7,797 square foot lot zoned Rd1.5. The unit mix consists of two singles, seven 1+1 Units, four 1+1+ Loft Units, and one 2+1 unit. The apartments are very spacious, some with lofts and balconies, and always in extremely high rental demand. The property has been re-piped with copper and is well maintained throughout. Access to the gated parking lot with 19 spaces through Dudley Court. The front of the building opens up to a pedestrian Walk Street on Paloma Ave. The property is individually metered for gas and electricity and master metered for water and sewer. The property is subject to the City of Los Angeles Rent Control There is coin operated onsite laundry. Earthquake retrofitting has been completed at the property. This is a court ordered partition sale subject to court approval and overbid.
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 2 | $1,587 | 550 |
| 1+1 | 7 | $2,863 | 800 |
| 2+1 | 5 | $3,764 | 1,050 |
PROPERTY TAXES
| Parcel Number | 4286-021-030 | Improvements Assessment | $1,924,740 |
| Land Assessment | $4,265,640 | Total Assessment | $6,190,380 |
PROPERTY TAXES
