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 DFT @ $2.9M. Registered historic landmark (“Drobatz Grocery and Apartments”), 4 owners since built. 8876 sq. ft. corner lot with 180′ of street frontage. House-like units with 9′ to 12′ ceilings, front patios with ocean/PV views and rear doors opening to large grass backyards, dining rooms, skylights, laundry rooms, hardwood floors, plaster walls, lots of built-ins and character. Upper owners unit has windows on 3 sides, formal dining + breakfast rooms and 2 decks. Lower owners unit (former grocery) is huge, currently 2 bed 2 baths + den/kids bed with 12′ ceilings, could be converted to New York style loft. The three 1 beds could be expanded in back into 2 bed 2 baths. Building is larger than tax records state. Copper plumbing, EQ retrofitted, separate meters. 5 garages, could be rented separately. Long term tenants, huge upside in rents. Wide quiet street 6 blocks to beach. Mills Act landmark status provides apx. 65% reduction in property taxes. Seller in escrow on upleg, noncontingent. Paid $2.6M 3 years ago and put $ into it, losing 100k @ this price. Vintage SFR + 2 condos next door sold for $5,125,000. Current loan $1,779,000 with Malaga.
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