$7,250,000
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0.31 Acres Lot
SOLD DATE : 03/17/2022
Key Details
Property Type Single Family Home
Listing Status Sold
Purchase Type For Sale
MLS Listing ID 22127785
Sold Date 03/17/22
HOA Y/N No
Year Built 1941
Lot Size 0.312 Acres
Property Description
Rare opportunity to acquire an exceptional 10-unit courtyard building on an oversized lot in prime Santa Monica. Located on a tree-lined street just south of Montana Ave, this well-performing property is just a few blocks from the city's most desirable shopping and dining, and within the coveted Franklin School district. The apartments are unusually large, each with in-unit laundry, and most with spacious outdoor spaces. Several units feature renovated kitchens and baths. In addition to the 10 residences, the property includes 3 offices that provide additional rental income as well as the potential to develop ADUs without sacrificing any of the building's 15 parking spaces. A 2800 sqft owners unit includes a private direct entry garage. This property has been lovingly maintained by the same family for 60+ years. THREE LARGE UNITS AND ONE OFFICE WILL BE DELIVERED VACANT AT CLOSE OF ESCROW, allowing the new owner to rent those units at market rates, while still enjoying an additional 25% upside in rental income when other tenants vacate. No seismic retrofit required. EMAIL LISTING AGENT FOR OFFERING MEMORANDUM. Do not disturb tenants or walk the property without an appointment with listing agent.
Location
State CA
County Los Angeles
Area C14 - Santa Monica
Zoning SMR2*
Interior
Heating Forced Air, Gravity
Fireplace No
Appliance Dishwasher, Disposal, Refrigerator, Dryer, Washer
Exterior
Parking Features Assigned, Carport, Garage
Garage Spaces 2.0
Carport Spaces 13
Garage Description 2.0
Community Features Gated
Total Parking Spaces 15
Building
New Construction No
Others
Senior Community No
Tax ID 4277006002
Security Features Carbon Monoxide Detector(s),Gated Community,Smoke Detector(s)
Special Listing Condition Standard
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Bought with Jonathan Taksa Remax Commercial and Investment Realty