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Matt O'Brien

matt@homecrave.com +1(619) 302-3010

$ 2,280,000

Est. payment | -/mo

7 Beds

5 Baths

3,219 SqFt

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$ 2,280,000

Est. payment | -/mo

Save

7 Beds

5 Baths

3,219 SqFt

Key Details

Property Type Single Family Home

Listing Status Active

Purchase Type For Sale

Square Footage 3,219 sqft

Price per Sqft $708

MLS Listing ID 26654207

Bedrooms 7

HOA Y/N No

Year Built 1938

Lot Size 6,764 Sqft

Property Description

This exceptionally charming 5-unit multi-family property presents an incredible investment opportunity in a prime Santa Monica location. Built in 1938 this updated property has immense appeal and offers long-term growth potential. The property has been meticulously maintained. There are three 1 bedroom/1 bathroom units plus two 2 bedroom/1 bathroom units. Four of the five units have been remodeled; three feature in-unit laundry, the other two units have private laundry inside their garage. There are refinished hardwood floors, three of the five units have split AC units, quartz/granite countertops and tiled showers. In January 2025 a new roof was installed on the rear building, and in late 2024 the front building was recoated. Two of the front units have individual enclosed garages; three units have assigned parking. This property offers both immediate rental income and long-term growth potential. This property has just undergone significant capital improvements including soft story/seismic retrofit work, resulting in a building that is fully stabilized and ready to go. Centrally located near transportation, schools, shopping, parks, and the best Santa Monica has to offer. Operating at a 100% occupancy, the property yields a highly attractive Pro-Forma Cap Rate of 4.69%. The current tenants are professionals and the units are well maintained. This is a fantastic opportunity for investors seeking a steady cash flow in a thriving, rent resilient market. There is an excellent property management company in place. This is rare turnkey acquisition.

Location

State CA

County Los Angeles

Area C14 - Santa Monica

Zoning SMR2*

Interior

Heating Wall Furnace

Flooring Wood

Fireplaces Type None

Fireplace No

Appliance Refrigerator, Dryer, Washer

Laundry Common Area

Exterior

Parking Features Assigned

Building

Story 2

Entry Level One,Two

Architectural Style Spanish

Level or Stories One, Two

New Construction No

Others

Senior Community No

Tax ID 4273019010

Special Listing Condition Standard

CRMLS Full IDX Feed (MAIN Website Search)

Listed by Julie Lovett Coldwell Banker Realty #00803205

NEARBY SCHOOL & BUSINESS

+1(619) 302-3010

matt@homecrave.com

San Diego, CA, 92124

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2517 20th ST Santa Monica, CA 90405