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Peter Bissias

peter.bissias@engelvoelkers.com +1(818) 442-1102

$ 299,000

Est. payment -/mo

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Price Dropped by $400K

16601 Marquez AVE #103 Pacific Palisades, 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 26668571

Bedrooms 1

Full Baths 1

HOA Fees $668/mo

HOA Y/N Yes

Year Built 1965

Lot Size 0.516 Acres

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

Area C15 - Pacific Palisades

Zoning LAR3

Interior

Cooling None

Flooring Wood

Fireplaces Type None

Furnishings Unfurnished

Fireplace No

Exterior

Parking Features Gated, Community Structure

Pool Association

Community Features Gated

Amenities Available Pool, Trash, Water

View Y/N No

View None

Total Parking Spaces 1

Private Pool No

Building

Story 3

Entry Level One

Architectural Style Contemporary

Level or Stories One

New Construction No

Others

Pets Allowed Yes

Senior Community No

Tax ID 4419013034

Security Features Security Gate,Gated Community

Acceptable Financing Cash

Listing Terms Cash

Financing Cash

Special Listing Condition Short Sale

Pets Allowed Yes

CRMLS Full IDX Feed (MAIN Website Search)

Listed by Greg Erpenbach Equity Union #01881508

NEARBY SCHOOLS & PROPERTIES

Peter Bissias

Advisor | License ID: 01991130

+1(818) 442-1102

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