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$2,695,000
Est. payment /mo
5 Beds
7 Baths
4,454 SqFt
UPDATED:
12/13/2024 07:14 PM
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 4,454 sqft
Price per Sqft $605
MLS Listing ID 24416825
Bedrooms 5
HOA Y/N No
Year Built 1948
Lot Size 7,514 Sqft
Property Description
5-Unit Multifamily Investment Opportunity in Prime Santa Monica. This exceptional property offers a rare opportunity in an unbeatable Santa Monica location, just moments from the iconic Santa Monica Pier, Venice Beach, and the area's stunning coastline. With a current 5.00% cap rate and 13.06 GRM, there is upside potential to increase to a 5.48% cap rate and 12.27 GRM. Property Highlights* Front Duplex-Perfect Owner Occupy Unit: Features a spacious 3-bedroom, 3-bathroom unit, perfect for owner occupancy. It offers flexibility to be used as a 2-bedroom, 2-bath unit with a 1-bedroom, 1-bath unit, each with private entrances, fireplaces, and patios. * Studio Unit: Includes a large private deck, ideal for added comfort and outdoor enjoyment. * Rear Units: Two well-sized 1-bedroom, 1-bath units (600 SF each) and one Bachelor unit. * Additional Amenities: A shared laundry room, four enclosed garages, and beautifully maintained grounds. All units boast separate entrances, hardwood floors, and tasteful finishes throughout. The property features 100% copper piping, an upgraded electrical panel, and offers spacious, well-appointed interiors in each unit. This is an incredible opportunity for investors or an owner-user seeking a flexible living arrangement in the highly desirable area of Santa Monica.***Owner-User Opportunity: The vacant 3-bedroom, 3-bathroom front unit is perfect for an owner-user, offering the flexibility to live in a spacious 2-bed***Prime Santa Monica Location: Moments from the Santa Monica Pier, Venice Beach, and the vibrant local lifestyle.***Modern Upgrades: Property features 100% copper piping, an updated electrical panel, a shared laundry room, four enclosed garages, and beautifully main***Upside Potential: Current 5.00% cap rate and 13.06 GRM with potential to achieve 5.48% cap rate and 12.27 GRM.***Spacious Units: All units are generously sized and include hardwood floors, separate entrances, and tasteful finishes.***CONTACT US FOR AN OM***
Location
State CA
County Los Angeles
Area C14 - Santa Monica
Zoning SMR3*
Interior
Heating Forced Air
Cooling None
Fireplace No
Appliance Dryer, Washer
Exterior
Garage Spaces 4.0
Garage Description 4.0
Attached Garage Yes
Total Parking Spaces 4
Building
Story 2
Entry Level Two
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 4282011008
Special Listing Condition Standard
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Listed by Peter Ciriello • LA Commercial
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Adrian Castillo
Principal/Realtor | CA DRE#01308935
Principal/Realtor CA DRE#01308935