303 Cres Ave Avalon, CA 90704

Property Details for 303 Cres Ave

Year built

1982

Lot size

0.10 lot acres

Property size

9,048 SF

Property type

Industrial properties

Description

This exceptional 9,048 square foot, three-story building is situated on a 0.1-acre lot at 303 Crescent Avenue in the heart of Avalon, California. Built in 1982, this prime location offers unparalleled access to Avalon's vibrant beachfront, restaurants, bars, and retail shops. The property boasts a substantial 6,000 square feet of retail space currently occupied by a prominent bank—the only bank in Avalon—and another local business, ensuring a stable income stream. Upstairs, a luxurious 3,048 square foot penthouse apartment provides ample living space with breathtaking harbor views. This expansive residence includes four bedrooms, two and a half bathrooms, a spacious living room with a bar, and a private balcony. An elevator ensures accessibility throughout the building. Two private outdoor patios offer additional space for relaxation or entertainment. Further enhancing its investment potential, the property includes a short-term rental license, allowing for supplemental income generation by renting out this highly sought-after space. This unique offering presents a rare chance to acquire one of Avalon's most desirable commercial and residential properties, combining lucrative rental income with the potential for significant appreciation in a highly desirable island location. The property's proximity to the beach and the town's amenities makes it an ideal investment for both business and personal use.

Location Insight

City

Avalon

County

Los Angeles

State

California

Longitude

-118.326

Latitude

33.344