Pending

556 Via De La Paz

Pacific Palisades CA, 90272

$3,625,000


$784.63 per sqft

Pending

7 Beds

6 Baths

4,620 sqft

Residential

Built in 1924

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.

24-376737

MLS ID

April 5, 2024

Listed

May 15, 2024

Updated

Map

556 Via De La Paz
Pacific Palisades CA, 90272

Interior Features

Total Stories

2


Bedrooms

7


Total Bathrooms

6


Appliances

Garbage Disposal, Freezer, Electric Dryer Hookup, Dryer, Dishwasher, Ceiling Fan, Hood Fan, Washer, Range/Oven, Recirculated Exhaust Fan, Refrigerator, Other


Laundry Description

In Unit, Community


Floor Description

Hardwood


Fireplace

No


Cooling

Yes


Cooling Description

Other


Heating

Yes


Heating Description

Other

Exterior/Building Features

Lot Size

0.17 Acres


Architectual Style

Spanish

Other Property Details

Area Name

Pacific Palisades


Days on Market

21


Garage

Yes


Parking

Garage - 4 Car, Other, Assigned, Driveway - Combination


Parking Total

4


View

Yes


View Description

City, Ocean


County

Los Angeles


Pool

No


Zoning

LAR1

Listing History

Date

Event

Price

5/15/2024

Pending

Listed by Davis Saadian with Carolwood Estates
Listing Contact: 310-402-8958 

Based on information from The MLSTM / Combined LA/Westside Multiple Listing Service, Inc. IDX information is provided exclusively for consumers' personal, non-commercial use, it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All information is deemed reliable but not guaranteed and should be independently reviewed and verified. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. All properties are subject to prior sale, change or withdrawal, and may or may not be listed by the office/agent presenting the information. Neither listing broker(s) nor Shelhee Gal | CA DRE# 01721758 shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. 

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Data last updated 5/15/2024

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