556 Via De La Paz, Pacific Palisades, CA 90272
Property · 2 recorded sales since 2020
Sold June 2024
Listing Agent: Davis Saadian (DRE #01921748) · Listing Office: Carolwood Estates · Contact: 310-623-3600 · Bought with: Ysabel Goldberg · Carolwood Estates · MLS #24376737 · Source: CRMLS
About this property
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.
Listing description from the June 2024 sale, as reported to CRMLS.
Sale history
