Request More Info
Schedule a Showing
Share
Print
|
Situated in the picturesque Ocean Park neighborhood of Santa Monica, 2306 3rd Street stands as a rare gem for investors seeking a prestigious addition to their portfolio. Sitting on a double lot, this legacy 12-unit property features an eclectic mix of residential options, including (1) 4-unit building, (1) duplex, (1) single-family residence with an attached studio, and (4) detached bungalows. With a unit mix of (3) 2-bed/1-bath, (8) 1-bed/1-bath, and (1) studio, the property offers a total of 7,937 square feet of rentable space on a generous 12,703 square foot lot.Boasting a 4.25% CAP rate and a market CAP rate of 6.35%, the investment potential is substantial. Residents enjoy the perfect blend of comfort and convenience, enhanced by the property's prime location. Positioned just blocks from the beach and within walking distance of top-tier retail and restaurants, 2306 3rd Street benefits from its enviable location between Venice Beach and Downtown Santa Monica.Whether you're seeking steady returns or aiming to capitalize on the area's dynamic growth, this property represents a compelling opportunity in coveted location.
Property Type(s):
Residential Income
| Last Updated | 10/21/2024 | Year Built | 1924 |
|---|---|---|---|
| Community | Santa Monica | County | Los Angeles |
Price History
| Prior to Oct 21, '24 | $5,500,000 |
|---|---|
| Oct 21, '24 - Today | $4,950,000 |
Additional Details
| AIR | None |
|---|---|
| AREA | Santa Monica |
| HEAT | None |
| LOT | 6219 sq ft |
| LOT DESCRIPTION | 11-15 Units/Acre |
| POOL DESCRIPTION | None |
| SEWER | Public Sewer |
| STORIES | 2 |
| WATER | Public |
| ZONING | SMOP2* |
Location
Contact us about this Property
| / | |
| We respect your online privacy and will never spam you. By submitting this form with your telephone number you are consenting for Carie Webber to contact you even if your name is on a Federal or State "Do not call List". | |
Listed with Lyon Stahl Investment Real Estate, Inc.
The information being provided by Conejo Simi Moorpark Association of REALTORS® (“CSMAR”) is for the visitor's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. Any information relating to a property referenced on this web site comes from the Internet Data Exchange (“IDX”) program of CSMAR. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. Any information relating to a property, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. The data contained herein is copyrighted by CSMAR and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.
This IDX solution is (c) Diverse Solutions 2024.
Twitter
Facebook
Email