** SELLER FINANCING AVAILABLE. CRAFTSMAN HOME + 4 UNITS** A rare opportunity to own a remodeled 5-unit property in the heart of Santa Monica. This 4,454 sq. ft. building sits on a spacious 7,510 sq. ft. R3 lot, offering excellent ADU potential and future development opportunities. The front house is… Read More a 2-bed/2-bath Craftsman home, which is vacant and ready for an owner-user or new tenant. It features a fireplace, bay window, large living room, hardwood floors, countertop island, in-unit washer and dryer, and both a front and side yard. Attached to it, through a separate entrance, is an attic space configured as a 1-bed/1-bath unit with a kitchenette, providing additional space and flexibility. The property's charming garden-style design enhances its curb appeal. The rear of the property includes four units: two 1-bed/1-bath units (one currently vacant) and two studio units, one of which includes a private deck, allowing an investor to maximize rental income. The building is in excellent condition, with seismic retrofitting completed, a relatively new roof, and copper plumbing. Additionally, there are four garages, two of which are separately rented, generating extra income. The property boasts a current cap rate of 5.05% and a GRM 13.14, making it a highly attractive investment. With a desirable unit mix, prime location, and potential for additional development, this is a phenomenal opportunity to invest or live in one of Santa Monica's most sought-after neighborhoods. Read Less
Property listed by Lyon Stahl Investment Real Estate, Inc., David Messiah 310-425-9838
Listing Snapshot
Days Online
26
Last Updated
Property Type
Other
Beds
5
Square Ft.
4,454
Lot Size
0.17 Acres
Year Built
1948
MLS Number
25506801
30 Days Snapshot Of 90401
$1,300k
+9%
(avg) sold price
1
-75%
home sold
47
-47%
(avg) days on market
Snapshot
Area Map
Additional Details
Appliances & Equipment
Dishwasher, Refrigerator, Dryer, Washer
Building
Built in 1948, Building area total: 4,454, Levels: MultiSplit, Living area: 4454, 2 buildings
Floors
Wood
Income
Gross income: $203,604, Net operating income: $135,101
Lot
0.1725 acres, 7,513 square feet, Size: 7,513
Parking
4 totals parking, DoorSingle, Garage
Property
Zoning: SMR3*
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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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