Spanish style 20 unit property in Santa Monica near the 3rd Street Promenade. Offering 500-700 SF 1-bedroom and Junior 1-bedroom (alcove studio) units in an ultra prime location with walkable retail and dining options. The building consists of (16) Junior alcove 1 bedroom 1 bath units, and (4) 1… Read More bedroom 1 bath units. The property boasts strong in place cash flow with rental upside coming from at least 2 ADUs that could be added to the property. The secure entryway, center hallway, offers a character building in a super location to an affluent renter demographic. The building is master-metered for gas and has street parking only. The Property has a basement with Laundry. The basement is big enough to add 2 ADUs, each approximately 300 SF. The property size offers immediate scale and a strong foothold in one of the West Side of Los Angeles most desirable submarkets. There is an assumable loan until 12/2026. Read Less
Property listed by LA Commercial, Peter Ciriello 310-980-4562
Listing Snapshot
Days Online
24
Last Updated
Property Type
Other
Beds
4
Square Ft.
12,327
Lot Size
0.17 Acres
Year Built
1930
MLS Number
25601217
30 Days Snapshot Of 90403
$2.32M
+19%
(avg) sold price
8
-27%
homes sold
62
-18%
(avg) days on market
Snapshot
Area Map
Additional Details
Appliances & Equipment
Refrigerator
Building
Built in 1930, Building area total: 12,327, Levels: Two, Living area: 12327, 2 stories, 1 building
Cooling
None
Heating
WallFurnace
Income
Gross income: $574,376, Net operating income: $363,583
Lot
0.1723 acres, 7,507 square feet, Size: 7,507
Parking
None
Property
Zoning: SMR2*
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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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