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We are proud to present The Seaside, a tranquil retreat located in the charming beachside community of Ocean Park in the City of Santa Monica. Situated on the quiet residential street of Highland Ave., this unique property, which is just 6 blocks from the beach, offers an amazing opportunity and endless possibilities for either someone looking to call this property home or a seasoned investor.*The property is not subject to Santa Monica Rent Control, allowing for 5% + CPI annual rent increases per AB 1482, was originally built in 1920 and in 1988, the construction of (2) detached apartment units and workshop was completed. Over the course of the last few years, the property has undergone extensive renovation to both the main home, as well as the apartment units.This wonderful opportunity encompasses an impressive 3,802 sq ft. building and consists of a 4 Bedroom + 3 Bath Two-Story Single-Family Home with a private 106 sq ft. 3rd-floor rooftop terrace, as well as (2) detached 2-Bedroom apartment units averaging 895 sq ft. in a 3-story structure with the 4th floor consisting of a massive 628 sq ft. sundeck and lounge with partial views of the Pacific Ocean and surrounding city. *In addition, there’s a 1st floor, non-conforming studio unit that could be used as an office or potentially converted into a legal apartment unit.Each of these fantastic units is individually metered for gas and electricity, and offers individual hot water heaters, further lowering utility costs, as well as an on-site laundry facility for tenants.Though certain upgrades have been made, there is still a considerable amount of value to add to this incredible property, as well as a tremendous amount of rental income that has yet to be unlocked, making The Seaside an incredible opportunity.(1) Four-Bedroom + Three-Bath House – 1,708 sq ft.(1) Two-Bedroom + Two-Bath – 895 sq ft.(1) Two-Bedroom + One-Bath – 895 sq ft.(1) Studio + One-Bath (*Non-Conforming Unit) – 306 sq ft.Santa Monica’s real estate market is characterized by high demand and limited supply, resulting in property values that are among the highest in the region.*Buyer to Verify with the City of Santa Monica**All material presented herein is intended for discussion purposes only. It is the sole responsibility of the Buyer to conduct their own due diligence as to the accuracy of the information contained herein and the Seller nor their agents make any warranties expressed or implied
Property Type(s):
Residential Income
| Last Updated | 10/11/2024 | Year Built | 1988 |
|---|---|---|---|
| Community | Santa Monica | Garage Spaces | 4.0 |
| County | Los Angeles |
Price History
| Prior to Oct 11, '24 | $2,995,000 |
|---|---|
| Oct 11, '24 - Today | $2,895,000 |
Additional Details
| AREA | Santa Monica |
|---|---|
| GARAGE | On Site, Yes |
| LOT | 4838 sq ft |
| LOT DESCRIPTION | Garden |
| PARKING | On Site |
| POOL DESCRIPTION | None |
| SEWER | Public Sewer |
| STORIES | 4 |
| WATER | Public |
| ZONING | SMOP2* |
Location
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Listed with Equity Union
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.
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