1 Paloma Avenue, Pacifica, California 94044, Pacifica, - bed, bath
ACTIVE$2,995,000
1 Paloma Avenue, Pacifica, California 94044
0Bed
0Bath
5,119Sqft
5,050Lot
Year Built
1964
Close
-
List price
$3M
Original List price
$3M
Price/Sqft
-
HOA
-
Days on market
-
Sold On
-
MLS number
ML81997993
Home ConditionFair
Features
Excellent View: Ocean
ViewOcean
About this home
Don't miss this rare opportunity to invest in a 4-Unit Ocean Front apartment building! All units have a private balcony or ground floor outdoor space with breathtaking ocean views! 1 Paloma Avenue offers Coastal Living at its finest - Unobstructed wide ocean views, Ocean front walking trails, 1 street over from Palmetto Avenue, which offers shopping, eating, and entertainment! Close access to HWY-1 & I-280 and only 20 minutes to SF. 2 units offer (3) bedrooms & (1.5) bath and 2 units offer (2) bedrooms & (1) bathroom. Each unit has an enclosed garage space.
Nearby schools
4/10
Sunset Ridge Elementary School
Public,•PK-5•1.4mi
6/10
Ortega Elementary School
Public,•K-5•3.5mi
6/10
Ingrid B. Lacy Middle School
Public,•6-8•0.1mi
6/10
Ocean Shore Elementary School
Public,•K-8•1.0mi
7/10
Vallemar Elementary School
Public,•K-8•1.7mi
7/10
Cabrillo Elementary School
Public,•K-8•2.6mi
/10
Pacifica Independent Home Study
Public,•K-8•3.5mi
/10
Linda Mar Educational Center
Public,•K-8•3.5mi
7/10
Oceana High School
Public,•9-12•0.4mi
6/10
Terra Nova High School
Public,•9-12•3.2mi
7/10
Westmoor High School
Public,•9-12•3.3mi
4/10
Jefferson High School
Public,•9-12•4.4mi
Price History
Date
Event
Price
03/14/25
Listing
$2,995,000
Condition Rating
Fair
The property, built in 1964, is 60 years old. While some units show signs of more recent updates (e.g., Unit 2 with white shaker cabinets, subway tile backsplash, and stainless steel appliances), other units feature older styles such as light oak/maple cabinets, speckled granite/laminate countertops, and older white appliances, suggesting renovations from 15-30 years ago. Bathrooms also vary, with some appearing more updated than others. Flooring is a mix of newer wood-look laminate/vinyl plank and older carpets. The presence of wall-mounted gas heaters in some units indicates a lack of central HVAC, pointing to older major systems. Overall, the property is aged but appears maintained with regular upkeep and occasional, varied updates across the units, fitting the 'Fair' condition criteria.
Pros & Cons
Pros
Oceanfront Location & Unobstructed Views: The property boasts a rare oceanfront position with breathtaking, unobstructed wide ocean views from all units, significantly enhancing its desirability and long-term value.
Income-Generating Quadruplex: As a 4-unit apartment building, it presents a robust residential income opportunity, providing multiple revenue streams for investors.
Private Outdoor Spaces: Each unit features a private balcony or ground-floor outdoor space, offering tenants direct enjoyment of the coastal environment and adding to rental appeal.
Proximity to Local Amenities: Located just one street from Palmetto Avenue, residents have convenient access to shopping, dining, and entertainment options, fostering a desirable lifestyle.
Excellent Commuter Access: The property offers close access to HWY-1 and I-280, with a short 20-minute commute to San Francisco, appealing to a broad tenant base.
Cons
Age of Property: Built in 1964, the property is 60 years old, suggesting potential for deferred maintenance, outdated systems, or the need for significant capital expenditures to modernize and maximize rental income.
High Maintenance Demands: As an oceanfront property, it is inherently susceptible to accelerated wear and tear from salt air and coastal weather, likely requiring more frequent and costly maintenance to preserve its condition.
Unit Bathroom Configuration: The unit layouts (two 3-bedroom units with 1.5 baths and two 2-bedroom units with 1 bath) may be considered less competitive or desirable by some tenants compared to properties with more full bathrooms, potentially impacting rental rates or tenant pool.