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$5,750,000
Est. payment /mo
23 Beds
23 Baths
13,068 SqFt
UPDATED:
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 13,068 sqft
Price per Sqft $440
MLS Listing ID 25567811
Bedrooms 23
HOA Y/N No
Year Built 1991
Lot Size 8,629 Sqft
Property Description
We are proud to present a uniquely positioned multifamily investment opportunity in the heart of Pacific Palisades. Located at 16117 W Sunset Blvd, this 13-unit building constructed in 1991 and exempt from the City of Los Angeles Rent Stabilization Ordinance (AB 1482 applies) offers a rare chance to acquire a non-rent-controlled asset at a significant discount to both current replacement cost and pre-fire valuations. Following the Palisades fire, only 5 tenants remain in occupancy, providing a buyer with the immediate ability to re-tenant the majority of units at market-leading rental rates. This creates a compelling value proposition: a high-quality building with strong fundamentals, considerable income upside, and exceptional long-term positioning. The property features a well-balanced unit mix of ten oversized 2-bedroom, 2-bath units and three large 1-bedroom, 1-bath units. Many units include upgraded kitchens and bathrooms, hardwood flooring, in-unit laundry, fireplaces, central HVAC, walk-in closets, and balconies. Select penthouse units offer soaring vaulted ceilings and abundant natural light. The building also includes gated subterranean parking (exempt from mandatory soft-story retrofit), an intercom entry system, and a landscaped front facade. Strategically located along prestigious Sunset Boulevard between Santa Monica and Malibu, the property provides tenants with easy access to the beach, top-tier schools, and the future reopening of Caruso's Palisades Village. More than just a value-add play, this offering presents a rare opportunity to participate in the rebuild and revitalization of Pacific Palisades by delivering much-needed luxury housing in one of Los Angeles' most supply-constrained and sought-after rental markets.
Location
State CA
County Los Angeles
Area C15 - Pacific Palisades
Zoning LAR3
Interior
Heating Central
Cooling Central Air
Fireplace No
Appliance Disposal, Microwave, Refrigerator
Laundry Stacked
Exterior
Parking Features Assigned
Total Parking Spaces 23
Building
Story 3
Entry Level One
Level or Stories One
New Construction No
Others
Senior Community No
Tax ID 4420002075
Special Listing Condition Standard
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Listed by Jonathan Taksa Remax Commercial and Investment Realty