Huge 650k Price Reduction & Now 100% Occupied! 12 Unit building with 10 fully renovated units in Prime Santa Monica cash flowing at an incredible Current Cap Rate of 5.8% and 12.6 GRM from day 1! Priced at only 416k/door for renovated units with an amazing upside to 6.7% Cap… Read More Rate and 11.2 GRM on the proforma. Delivered with 10 fully renovated units with permits including 8 remodeled units plus 2 brand-new attached ADUs. These units have been completely renovated with permits (100% occupied) and boast a high-end aesthetic with new modern cabinets, flooring, recessed lighting, new bathrooms, stainless steel appliances, washer/dryer inside, as well as major exterior capital improvements. Notably, there are preliminary plans for 2 additional detached ADUs over the open parking lot in the back that offer exceptional future upside potential. The property is located in the heart of Santa Monica just minutes away from the Beach and within close proximity to Santa Monica Business Park as well as hip neighborhood attractions, restaurants, bars, and shops such as Layla Bagels, Local Kitchen & Wine Bar, Estate Coffee, and many more popping up all around the area. Read Less
Courtesy of Global Platinum Properties, Inc. 424-394-1030
Listing Snapshot
Days Online
3
Last Updated
Property Type
Other
Beds
11
Square Ft.
5,948
Lot Size
0.14 Acres
Year Built
1966
MLS Number
25-477031
30 Days Snapshot Of 90405
$1,230k
-39%
(avg) sold price
7
-50%
homes sold
74
-1%
(avg) days on market
Snapshot
Area Map
Additional Details
Appliances & Equipment
Refrigerator, Range/Oven
Building
5,948 sq ft, Built in 1966, Levels: Two
Cooling
Ceiling Fan
Disclosures
None
Garage
Uncovered
Heating
Wall
Lot
LotAcreage: 0.1388, LotSizeArea: 6,046
Parking
TotalParking: 9
Property
NumberOfUnits: 12, Zoning: SMR3*
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