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$3,500,000
Est. payment /mo
8,498 SqFt
UPDATED:
12/18/2024 11:52 PM
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 8,498 sqft
Price per Sqft $411
MLS Listing ID CL24458595
HOA Y/N No
Year Built 1967
Lot Size 7,491 Sqft
Acres 0.17
Property Description
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 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!
Location
State CA
County Los Angeles
Area Listing
Zoning SMR3
Interior
Heating Natural Gas
Cooling None
Fireplace No
Laundry Community Facility
Exterior
View Y/N true
View Greenbelt
Building
New Construction No
Others
Tax ID 4282022008
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Listed by David Putnam • Berkshire Hathaway HomeServices California Properties
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