114 PALOMA VENICE BEACH
LOS ANGELES, CA
Annual Preferred Return
Estimate Holding Period
Venice Beach is the busiest facility operated by the Department of Recreation and Parks. This iconic site attracts visitors from all over the world and it is estimated that approximately 28,000 to 30,000 people visit the Venice Beach Broad walk and adjacent Recreation and Parks property on a daily basis. The Broad walk, also known as Ocean Front Walk, is the second most-visited destination in Southern California, with an average of over ten (10) million visitors per year. It is known as one of the region’s most popular tourist attractions.
The Venice Beach Broad walk stretches over two (2) miles and hosts hundreds of street vendors and performers along the numerous privately owned restaurants and food venues.
The Venice Beach Recreation Center offers various activities including but not limited to basketball, paddle tennis and handball tournaments, body building at the world famous Muscle Beach Venice gym, and other special events.
Venice Beach also offers a fishing pier, a world renowned skate plaza, bike path, two (2) children’s play areas and provides a variety of services for the culturally diverse population that visits throughout the year. Film productions are also very popular at Venice Beach and occur year round. All of the sports courts, skate plaza, pier and other amenities are open to the general public on a daily basis.
114 Paloma Ave is between 2 main thoroughfares allowing residents easy access to Santa Monica and Marina Del Rey which has continued along a path of exponen of exponential growth over the last 5-Years.
Throughout the COVID-19 Pandemic, these two markets experienced a pause in rental rate expansion, but has made a significant push back to pre-COVID levels and that is attributed to retailers and employers strong belief that these markets will continue to be attractive pockets for the renter demographic.
Lincoln Boulevard is the main artery that runs through adjoining Santa Monica, Venice and Marina Del Rey. The property is in close proximity to Abbot Kinney. Lined with a nearly endless numbers of trendy shops, nightlife, and restaurants, Abbot Kinney attracts both local residents and people from across Los Angeles.
The city of Venice thrives in its diversity, vibrancy, and coastal vibes.