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… Read More 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! Read Less
Property listed by Berkshire Hathaway HomeServices California Properties, David Putnam 310-207-7080
Listing Snapshot
Days Online
149
Last Updated
Property Type
Other
Beds
16
Square Ft.
8,498
Lot Size
0.17 Acres
Year Built
1967
MLS Number
24458595
30 Days Snapshot Of 90404
$1,418k
+34%
(avg) sold price
4
-42%
homes sold
89
+14%
(avg) days on market
Snapshot
Area Map
Additional Details
Building
Built in 1967, Building area total: 8,498, Levels: Two, Living area: 8498, 2 stories, 1 building, Architectural style: Traditional
Cooling
None
Expenses
Electric expense: $1,745, Gardener expense: $4,645, Insurance expense: $12,133, Maintenance expense: $13,190, New taxes expense: $43,750, Water sewer expense: $7,363, Other expense: $12,124
Heating
NaturalGas
Income
Gross income: $250,352, Net operating income: $149,252
Based on information from California Regional Multiple Listing Service, Inc. as of and/or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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