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DFT @ $2.9M. Seller losing $ at this price but has upleg in escrow, supposed to close now, needs instant sale. One of a kind registered historic landmark (“Drobatz Grocery and Apartments”), nothing else like it. 4 owners since built. 8876 sq.ft. corner lot with 180′ of street frontage. House-like units with 9′ to 12′ ceilings, large front patios with ocean/P.V. views and rear doors opening to large grass backyards, dining rooms, skylights, laundry rooms, hardwood floors, plaster walls, lots of built-ins and character. 2 bed owners unit has windows on 3 sides, formal dining + breakfast rooms and 2 decks. Lower unit is huge, 2+ beds, with 12′ ceiling; could be converted to New York style loft or back to commercial. The three 1 beds could be expanded in back to make them all 2+2’s. 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. Milla Act landmark status provides apx. 65% reduction in property taxes.
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