Sold
556 Via De La Paz
Pacific Palisades CA, 90272
$3,625,000
$784.63 per sqft
Sold
7 Beds
6 Baths
4,620 sqft
Multi-family
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
August 23, 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
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.
©2024 Combined L.A./Westside MLS. All rights reserved.
Data last updated 8/23/2024