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$2,280,000
Est. payment /mo
7 Beds
5 Baths
3,219 SqFt
UPDATED:
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 3,219 sqft
Price per Sqft $708
MLS Listing ID 26654207
Bedrooms 7
HOA Y/N No
Year Built 1938
Lot Size 6,764 Sqft
Property Description
This exceptionally charming 5-unit multi-family property presents an incredible investment opportunity in a prime Santa Monica location. Built in 1938 this updated property has immense appeal and offers long-term growth potential. The property has been meticulously maintained. There are three 1 bedroom/1 bathroom units plus two 2 bedroom/1 bathroom units. Four of the five units have been remodeled; three feature in-unit laundry, the other two units have private laundry inside their garage. There are refinished hardwood floors, three of the five units have split AC units, quartz/granite countertops and tiled showers. In January 2025 a new roof was installed on the rear building, and in late 2024 the front building was recoated. Two of the front units have individual enclosed garages; three units have assigned parking. This property offers both immediate rental income and long-term growth potential. This property has just undergone significant capital improvements including soft story/seismic retrofit work, resulting in a building that is fully stabilized and ready to go. Centrally located near transportation, schools, shopping, parks, and the best Santa Monica has to offer. Operating at a 100% occupancy, the property yields a highly attractive Pro-Forma Cap Rate of 4.69%. The current tenants are professionals and the units are well maintained. This is a fantastic opportunity for investors seeking a steady cash flow in a thriving, rent resilient market. There is an excellent property management company in place. This is rare turnkey acquisition.
Location
State CA
County Los Angeles
Area C14 - Santa Monica
Zoning SMR2*
Interior
Heating Wall Furnace
Flooring Wood
Fireplaces Type None
Fireplace No
Appliance Refrigerator, Dryer, Washer
Laundry Common Area
Exterior
Parking Features Assigned
Building
Story 2
Entry Level One,Two
Architectural Style Spanish
Level or Stories One, Two
New Construction No
Others
Senior Community No
Tax ID 4273019010
Special Listing Condition Standard
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Listed by Julie Lovett Coldwell Banker Realty #00803205
NEARBY SCHOOL & BUSINESS
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Tracy Thrower Conyers
Broker Associate, JD | License ID: 01712960
Broker Associate, JD License ID: 01712960