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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!
Property Type(s):
Residential Income
| Last Updated | 11/8/2024 | Year Built | 1967 |
|---|---|---|---|
| Community | Santa Monica | County | Los Angeles |
Additional Details
| AIR | None |
|---|---|
| AREA | Santa Monica |
| GARAGE | Carport, Covered, Door-Multi, Garage, Yes |
| HEAT | Natural Gas |
| LOT | 7491 sq ft |
| PARKING | Covered,Carport,Door-Multi,Garage |
| STORIES | 2 |
| STYLE | Traditional |
| VIEW | Yes |
| VIEW DESCRIPTION | Park/Greenbelt |
| ZONING | SMR3* |
Location
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Listed with Berkshire Hathaway HomeServices California Properties
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