** SELLER FINANCING of $1,700,000 at a 4.52% Rate Available through 2032 (7 full years at 60% LTV)** 1047 Ocean Park Blvd is a 5,296-square-foot, seven-unit apartment building situated on a 6,617-square-foot corner lot, just east of Lincoln Blvd and less than a mile from the ocean. The property features… Read More a mix of five 2- bedroom/1-bathroom units, including one townhouse, and two large studio units. It also provides a total of ten parking spaces, offering convenience and accessibility for tenants.The property has undergone significant upgrades in recent years. Select units have been updated with maple and laminate flooring, and the building was retrofitted within the last two years. Foundational work was completed in 2023, while a new concrete driveway was paved in November 2022. This property offers strong rental upside with a pro-forma cap rate of 6.51% and a pro-forma GRM of 10.97. Its prime Santa Monica location combined with its recent improvements and competitive financing options, this property is a great investment opportunity with room for growth. Read Less
Courtesy of Lyon Stahl Investment Real Estate, Inc. 310-425-9838
Listing Snapshot
Days Online
44
Last Updated
Property Type
Other
Square Ft.
5,296
Lot Size
0.15 Acres
Year Built
1947
MLS Number
25-489977
30 Days Snapshot Of 90405
$2,643k
-3%
(avg) sold price
26
+85%
homes sold
70
-21%
(avg) days on market
Snapshot
Area Map
Additional Details
Appliances & Equipment
Range/Oven
Building
5,296 sq ft, Built in 1947, Levels: Two
Disclosures
As Is
Garage
Carport
Lot
LotAcreage: 0.152, LotSizeArea: 6,619
Parking
TotalParking: 10
Property
NumberOfUnits: 7, Zoning: SMR3*
Find The Perfect Home
'VIP' Listing Search
Whenever a listing hits the market that matches your criteria you will be immediately notified.
The information is for consumers' personal, non-commercial use and may not be used for any purpose other than identifying properties which consumers may be interested in purchasing.
Confirm your time
Fill in your details and we will contact you to confirm a time.
