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$ 299,000
Est. payment /mo
Active
16601 Marquez Avenue #103 Pacific Palisades (los Angeles), CA 90272
1 Bed
1 Bath
928 SqFt
UPDATED:
Key Details
Property Type Condo
Sub Type Condominium
Listing Status Active
Purchase Type For Sale
Square Footage 928 sqft
Price per Sqft $322
MLS Listing ID CL26668571
Bedrooms 1
Full Baths 1
HOA Fees $668/mo
HOA Y/N Yes
Year Built 1965
Lot Size 0.517 Acres
Acres 0.5165
Property Sub-Type Condominium
Property Description
This Pacific Palisades condominium is located in the Marquez Knolls neighborhood. The building is currently not inhabitable due to the recent fire event. It represents a unique opportunity to acquire a unit in a highly desirable area at a substantial discount, well-suited for investors, builders or buyers experienced with HOA-managed restoration and remediation processes. This residential unit is a one bedroom one bath with a beautiful large patio situated in the front building consisting of 13 units within the 28-unit complex. The front building remains standing and the inside of the unit appears to have no damage. The entire front building was, however, was impacted by the fire and possibly requires extensive evaluation, remediation, and repair. The rear building, which contained 15 units, was destroyed. Currently, the HOA is evaluating options for the future of the complex, which may include various restoration, reconstruction, or redevelopment scenarios (Buyer to independently investigate and verify all HOA matters, including potential plans, insurance, and possible assessments). The list price includes an estimated land value allocation for the unit and a potential long-term opportunity, subject to HOA direction and approvals. Property is being sold as-is. Seller and broker make no representations or warranties regarding the condition of the property, including but not limited to structural integrity, environmental condition, habitability, or feasibility of repair or reconstruction. Buyer is advised to conduct all investigations regarding condition, remediation requirements, structural integrity, environmental impacts, HOA plans, insurance availability, financing, permitting, and costs. Seller will make no repairs, credits, or concessions. This opportunity to acquire this property in Marquez Knolls, is subject to buyer's independent due diligence. (all photos are pre-fire).
Location
State CA
County Los Angeles
Zoning LAR3
Interior
Cooling None
Flooring Wood
Fireplaces Type None
Fireplace No
Exterior
View Y/N false
View None
Total Parking Spaces 1
Private Pool false
Building
Story 1
Architectural Style Contemporary
Level or Stories One Story
New Construction No
Others
Tax ID 4419013034
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Listed by Greg Erpenbach • Equity Union
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