Description

ONE OF A KIND AND IRREPLACEABLE 11 UNIT OCEAN FRONT BEACH CLUB SITUATED ON 2-2/3 BEACH FRONT LOTS 88 FEET WIDE X 105 FEET DEEP, OFFERS SPECTACULAR WHITE SAND, WHITE WATER VIEWS OF THE OCEAN AND COASTLINE FROM PALOS VERDES TO MALIBU. PROPERTY COMES WITH (TIC) ENTITLEMENTS FROM THE DEPARTMENT OF REAL ESTATE WHICH CONVEYS THE RIGHT TO SELL EACH INDIVIDUAL UNIT SEPARATELY. TENANT IN COMMON (TIC) OWNERSHIP, POPULAR IN SAN FRANCISCO, GAINING POPULARITY IN LOS ANGELES, CONVEYS FOR EACH DWELLING AN UNDIVIDED PROPERTY CO-OWNERSHIP INTEREST, ALONG WITH THE EXCLUSIVE RIGHT TO OCCUPY AND THE RIGHT TO SELL. EXCEPTIONAL UPSIDE POTENTIAL WITH ESTIMATED RENOVATION COSTS FOR EXTERIOR $185,000/UNIT, INTERIOR $195,000/UNIT. PROFORMA INCOME $86,000/MO., ESTIMATED PROPERTY VALUE AFTER RENOVATION $38,000,000. SELLER FINANCING AVAILABLE, SELLER WILL CONSIDER SALE OF 50% PROPERTY INTEREST. PLEASE REFER TO PRIVATE REMARKS AND CALL LISTING AGENT FOR ADDITIONAL INFORMATION.

Features

• 0.21 Acres
• 3 Stories