Location Description:
LOCATED 1 BLOCK FROM BEACH IN VERY DESIRABLE MARINA DEL REY PIER AND RESTUARANT AREA, CLOSE AND WITH IN A SHORT WALK OF VENICE PIER AND BEACHES. NOTE FLOOR PLAN FOR PENTHOUSE UNIT IS NOT INCLUDED. CURRENTLY ADDING BACHELER NON-CONFORMING UNIT TO 3 BEDROOM 3 BATH MEZENINE UNIT THROUGH PERMIT PROCESS AND INTERIOR STAIRCASE CONSTRUCTION. THEN WILL OPT FOR CONDO CONVERSION OF 2, 4 BEDROOM 4 BATH UNITS WITH 2 2CAR GARAGE PARKING SPACES. AFTER CONVERSION ESTIMATED VALUE @ 2,300,000.00. PROPERTY IS PROFESIONALY MANAGED, ONE UNIT IS RENTED ALL YEAR ROUND AS WEEKLY FULLY FURNISHED SHORT TERM LUXERY RENTAL. RECENTLY PAINTED AND DECORATED. THE OTHER UNITS IS THE PENTHOUSE UNIT HAS LONG TERM TENANT, CONVERTED TO MONTH TO MONTH AT A CURRENT RATE OF $3,750.00 PER MONTH. BACHELER AND MEZENINE 3 BEDROOM UNIT HAS AVERAGED APPROX $5,000.00 PER MONTH TOGETHER AFTER EXPENSES TO MANAGEMENT BOOKING AGENCY. TOTAL GROSS INCOME ON THE PROPERTY FOR 2004 APPROX 105,000..00 PLUS !!! COULD BE HIGHER IF THE 4 BED 4 BATH WAS SET UP TO RUN AS SHORT TERM RENTAL. GO TO CALIFORNIABEACHRESORTS.COM TO SEE MORE. SUBMIT ALL OFFERS. BROKER IS ALSO RELATED TO PRICIPAL AND OWNS MINOR INTEREST. DO NOT DISTURB TENANTS CALL!!

No. Stories: 3 Parking Ratio: 1 / 1,000 SF

Highlights

• GREAT OWNER USER OPPERTUNITY • PARTIAL OCEAN VEIWS

• 2 2 CAR TANDEM GARAGES • SPACIOUS UNITS