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$ 3,500,000
Est. payment | /mo
16 Beds
14 Baths
8,498 SqFt
$ 3,500,000
Est. payment | /mo
16 Beds
14 Baths
8,498 SqFt
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 8,498 sqft
Price per Sqft $411
MLS Listing ID 24458595
Bedrooms 16
HOA Y/N No
Year Built 1967
Lot Size 7,492 Sqft
Property Description
First time on the market! Great value-add opportunity on this very well maintained 10 unit property. Some rents can be raised to the MARs (Buyer to confirm with Santa Monica Rent Control). There are (6) 2 bedrooms/1 3/4 bathrooms and (4) 1 bedroom/1 bathroom apartments.12 car parking. The 2 front units are split level with high ceilings. Good long term upside in rents. Close to restaurants and shopping in sunny Santa Monica! Gross Annual Income using current rents is $237,884. This should improve to approximately $250,352 with the several rents which can be raised to match MARs. The Gross Income, GRM and Cap rate below are based on $250,352 Gross. See current Rent Roll with potential increases (see documents tab). Property will need soft-story retrofit. Seller has provided two contractor proposals (see documents tab). Inside with an accepted offer. Please do not disturb tenants. Please text for the quickest response. Voicemail and email also answered promptly. Thank you for your interest!
Location
State CA
County Los Angeles
Area C14 - Santa Monica
Zoning SMR3*
Interior
Heating Natural Gas
Cooling None
Fireplace No
Laundry Common Area
Exterior
Parking Features Covered, Carport, Door-Multi, Garage
View Y/N Yes
View Park/Greenbelt
Total Parking Spaces 10
Building
Story 2
Entry Level Two
Architectural Style Traditional
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 4282022008
Special Listing Condition Standard
Listed by David Putnam • Berkshire Hathaway HomeServices California Properties