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$ 6,195,000
Est. payment | /mo
12,327 SqFt
$ 6,195,000
Est. payment | /mo
12,327 SqFt
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 12,327 sqft
Price per Sqft $502
MLS Listing ID CL25601217
HOA Y/N No
Year Built 1930
Lot Size 7,507 Sqft
Acres 0.17
Property Sub-Type Other
Property Description
Reduced, but Seller needs to exchange. Spanish style 20 unit property in Santa Monica near the 3rd Street Promenade. Offering 500-700 SF 1-bedroom and Junior 1-bedroom (alcove studio) units in an ultra prime location with walkable retail and dining options. The building consists of (16) Junior alcove 1 bedroom 1 bath units, and (4) 1 bedroom 1 bath units. The property boasts strong in place cash flow with rental upside coming from at least 2 ADUs that could be added to the property. The secure entryway, center hallway, offers a character building in a super location to an affluent renter demographic. The building is master-metered for gas and has street parking only. The Property has a basement with Laundry. The basement is big enough to add 2 ADUs, each approximately 300 SF. The property size offers immediate scale and a strong foothold in one of the West Side of Los Angeles most desirable submarkets. There is short term assumable financing available (~$3,965,000 loan amount, fixed at 4.1% until 12/2026) .
Location
State CA
County Los Angeles
Zoning SMR2
Interior
Heating Wall Furnace
Cooling None
Fireplace No
Building
New Construction No
Others
Tax ID 4292005013
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Listed by Peter Ciriello • LA Commercial
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AnnMarie Barajas
Partner | Lic# DRE# 01898810