Originally built in 1903, 241 Marine Street sits on a corner lot totaling approximately 6,490 square feet, with underutilized common area space that provides additional value-add potential. A subsequent buyer will have the opportunity to transform the asset into a boutique luxury property through targeted exterior facade enhancements and comprehensive… Read More interior renovations. The property consists of three (3) studios, five (5) one-bedroom/one-bath units, one (1) two-bedroom/one-bath unit, and one (1) two-bedroom/two-bath unit (*the property is currently being operated as a 9 unit). Additionally, select units feature private patios and ocean views, much of the building remains in largely original condition creating a blank canvas to deliver a premium product that can command top-of-market rents. With ~32% loss-to-lease on in-place rents, there is a clear path to unlock substantial value in a neighborhood underserved by high-end rental inventory. In addition to its unbeatable beachside location, 241 Marine offers proximity to major Westside employment hubs, including Silicon Beach, Culver City, the Santa Monica Media District, and Century City. This connectivity attracts a professional tenant base in tech, media, and entertainment, and supports long-term leasing stability in one of the most resilient and high-barrier rentals markets in the region. Read Less
Property listed by NorthMarq Realty Services, Inc., Elliot Hassan 949-717-5200
Listing Snapshot
Days Online
19
Last Updated
Property Type
Other
Beds
12
Square Ft.
5,232
Lot Size
0.15 Acres
Year Built
1903
MLS Number
25553257
30 Days Snapshot Of 90405
$2.29M
+21%
(avg) sold price
16
+14%
homes sold
57
-26%
(avg) days on market
Snapshot
Area Map
Additional Details
Building
Built in 1903, Building area total: 5,232, Levels: Two, Living area: 5232, 2 stories, 1 building
Heating
WallFurnace
Income
Gross income: $253,109, Net operating income: $157,270
Lot
0.149 acres, 6,491 square feet, Size: 6,491
Parking
None
Property
Zoning: SMOP2*
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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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