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$ 2,495,000
Est. payment | /mo
4,800 SqFt
$ 2,495,000
Est. payment | /mo
4,800 SqFt
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 4,800 sqft
Price per Sqft $519
MLS Listing ID CL26857251
HOA Y/N No
Year Built 1958
Lot Size 7,824 Sqft
Acres 0.1796
Property Sub-Type Other
Property Description
Exceptional investment opportunity in the heart of Santa Monica! This six unit income property features two separate buildings on one lot and offers an outstanding opportunity for investors or owner occupants seeking a value add asset in one of the Westside's most desirable rental markets. The unique configuration includes a detached single family residence in the front and a separate five unit apartment building in the rear, offering exceptional flexibility and long term investment potential. The front home, which is currently leased, offers approximately 1,200 square feet with 2 bedrooms, 2 bathrooms, and a den. The rear building is a two story, five unit apartment building consisting of four 2 bedroom, 1 bathroom units and one 1 bedroom, 1 bathroom unit. Most units have been tastefully updated, and most windows throughout the property have been recently replaced, providing enhanced energy efficiency, comfort, and curb appeal. The front house also features a recently installed roof. The property includes six on site parking spaces, four of which are covered, along with a community laundry room. One 2 bedroom, 1 bathroom unit and one 1 bedroom, 1 bathroom unit are currently vacant, presenting an immediate opportunity to lease at current market rents and significantly increase cash flow. Current rental income reflects the existing occupancy, with pro forma gross rental income projected to exceed $16,000 per month. Buyer to independently verify all income, expenses, rental projections, square footage, and all other information. Ideally situated just minutes from Santa Monica's world famous beaches, Main Street, Downtown Santa Monica, Montana Avenue, premier shopping, dining, parks, and convenient transportation, this is a rare opportunity to acquire a well maintained income property with immediate upside potential in one of Southern California's strongest and most sought after rental markets.
Location
State CA
County Los Angeles
Zoning SMR2*
Interior
Heating Other
Fireplace No
Appliance Dryer
Laundry Common Area, Dryer, Washer
Building
New Construction No
Others
Tax ID 4267017008
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Listed by Desiree Danialian • BEKERIS
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