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117 Paloma Ave
For Sale $2,995,000 ($792.75 per Sq Ft)
$2,995,000 ($792.75 per Sq Ft)
- 9 Units
- 3,778 Sq Ft
- 3,885 Sq Ft
- Unknown Cap Rate
Description
$200,000 PRICE REDUCTION!!! 117-117 1/2 is a 9-unit apartment building located in the heart of Venice. It is located across the street from the Google Headquarters and the future site of the 341 - unit development for the Venice Metro Yard. The development plan features 12,900 square feet of public open space, a pedestrian crossing for beach access and integration of the existing Vietnam War Memorial. In addition, the project offers 30,000 square feet of commercial space and a subterranean parking garage for residents, commercial tenants, and beach visitors. The property consists of a 2 bedroom + 1 bath house over the garage, 4 - 1 bedroom + 1 bath and 4 Studios. Long term owner - first time on the market in more than 40 years. The property is individually metered for electricity. The 4 Studios are master metered for gas. The remaining 5 units are individually metered for gas. It has copper plumbing and been earthquake retrofitted. Several of the kitchens and bathrooms have been remodeled. The units have hardwood floors. There is on site laundry. The other income ($11,100/year) is from the laundry, parking and garage. The property is located less than 2 blocks from Pacific Ocean on a beautiful walk street surrounded by multi-million dollar homes. It has a 94 Walkscore - close to Abbott Kinney, Main Street, Rose Avenue and the Venice Boardwalk.
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Amenities
Garage
Pool
Garden
Security System
Internet
Telephone
Heating
Fireplace
Balcony & Patio
TV / Cable
Laundry
Hardwood Floors
Spa
Air Conditioning
Solar Power
Floor Plan
Great Views
Natural Light
Quiet
Water View
Elevator
Guest Unit(s)
Furnished
220 Volt
Property Details
| List Price | $2,995,000 |
| Property Type | Multi-Family |
| Usable Sqft | 3,778 |
| Number of Stories | 2 stories |
| Parking Spots | 0 spots |
| Year Built | 1922 |
| Last Sold | Unknown |
| Sold Price | Unknown |
| APN # | 4286016020 |
| MLS # | 26829513 |
| Property ID | 322819836 |
| Lot Sqft | 3,885 |
| Zoning | LAR3 |
| Total Units | 9 |
| Days on Market | 67 |
| Original List Price | $3,195,000 |
| Date Updated | June 23, 2026 |
| Date Created | May 05, 2026 |
| Unit # | Beds | Baths | Current Rent | Proforma Rent |
| Unit #1 | 1 | 1.00 | $2,295 | $2,495 |
| Unit #2 | 1 | 1.00 | $2,350 | $2,495 |
| Unit #3 | 1 | 1.00 | $2,495 | $2,495 |
| Unit #4 | 1 | 1.00 | $2,036 | $2,495 |
| Unit #5 | 0 | 1.00 | $1,595 | $1,695 |
| Unit #6 | 0 | 1.00 | $1,650 | $1,695 |
| Unit #7 | 0 | 1.00 | $1,695 | $1,695 |
| Unit #8 | 0 | 1.00 | $1,388 | $1,695 |
| Unit #9 | 2 | 1.00 | $2,971 | $4,000 |
| Gross Income (Yr) | $ 232,800 |
| Operating Expenses | $ 73,251 |
| Net Income (Yr) | $ 159,549 |
| Cap Rate | 5.33% |
Listing Provided By
Michael A Salerno an agent of . Lic #01212427
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