Pride of Ownership is what you will find with this beautiful 8-unit income property that is located in one of the most prestigious neighborhoods in LA, Malaga Cove, in the heart of Palos Verdes Estates! Income properties like these rarely come on the market (only 26 multi-family properties are available in Palos Verdes) and even more rare is finding one in this completely remodeled condition and location! The property is adjacent to the Malaga Cove Library and steps away from the Malaga Cove Plaza and the beach. This beautiful coastal community is an upscale area that overlooks the ocean reminiscent of the South of France. You will find stunning multi-million dollar homes on the peninsula, a highly rated school district and an enclave that attracts celebrities to live and play in this beautiful community! 2404 and 2412 Via Campesina are made up of two 4-unit properties being sold together as one. They consist of eight 1 Bedroom 1 Bath units with upside in rents with a total rentable living area of 6,278 sq ft on a massive combined 14,406 sq ft lot. Current ownership has invested over a half a million dollars into the property since purchased and has made it a pride of the cove. As we have seen, opportunities to own a trophy property like this don't come around everyday! Residential financing is available for these units. Also, keep in mind with Assembly Bill 1211 that went into effect on Jan. 1st, 2025, ADU allowances are now allowed on multifamily zoned properties. The bill permits up to eight detached ADUs, as long as the number does not exceed the existing units within the property and allows ADUs to be built in existing uncovered parking areas without requiring off-street replacement parking.
Great opportunity to own a 6-unit building in the Malaga Cove area of Palos Verdes Estates. Located across from Malaga Cove Plaza and walking distance to Redondo Beach. Each unit has a 1-car garage with parking directly behind garages and available parking in the alley behind the building. Units look out over a large deck toward the lush wooded ravine, giving the units a tranquil vista from the living rooms. Close to Riviera Village with many restaurants and shops. The building offers a great opportunity to increase income with some renovations, with a strong long-term upside.
Palos Verdes Estates is located in California. Palos Verdes Estates, California has a population of 13,403. Palos Verdes Estates is more family-centric than the surrounding county with 35.14% of the households containing married families with children. The county average for households married with children is 30.99%.
The median household income in Palos Verdes Estates, California is $202,569. The median household income for the surrounding county is $76,367 compared to the national median of $69,021. The median age of people living in Palos Verdes Estates is 51.8 years.
The average high temperature in July is 76 degrees, with an average low temperature in January of 48.6 degrees. The average rainfall is approximately 15.2 inches per year, with 0 inches of snow per year.
