$4,400,000 Price Analysis   ♡   Santa Monica, CA 90403 18 bed 18 bath 10,356 SqFt ($424/SqFt) 7,519SqFt lot. Built 1968 Listed 2024-04-12, Taxes $8,353 | Ⓧ USDA Ineligible due to price & location near Santa Monica |
This c lassic Mid-Centry Modern property in the Wilshire-Montana neighborhood is available for the 1st time in decades.
It features 10 Huge Units averaging 1, 000 SF each and there is over 35% upside on rents. The unit mix is outstanding with (8) 2BR/2BA units and (2) 1BR/1BA units. The low Price per SF for the area ($441) makes this property the best value North of Wilshire. The building front features a lovely facade with brick planters and wainscotting that creates visually stunning curb appeal. There is secure subterannian parking with automatic gate, controlled access and on-site laundry so tenants will feel safe and secure. There is no seismic retrofit required. The building systems have recently been updated with new paint/stucco exterior, parking gates front and back and a new re-circulation pump, expansion tank and sump pump. Some of the plumbing supply lines have been re-piped with copper and there is new carpeting in the exterior stairwells. The roof was also recently repaired and coated with silicone sealant and there are new gutters and downspouts. The location is spectacular!
It is a few blocks from Inspiration Point, Palisades Park, the renowned Saint Monica's Prep School and Church, the 3rd Street Promenade and across the street from Emerson Prk with tennis and basketball courts, etc. The family has lovingly maintained this charming property for over 50 years and is now ready to a set a place at the table for a new owner. Your investment in this Prime location will be lucrative with a property that will be cost-effective to operate and easy to maintain.
Presented by Keith Moret at
Lyon Stahl Investment Re, Inc.
Property MLS #24-378867 from TheMLSCLAW
Full Bathrooms: 18
Laundry Features: Garage
Patio Features: Balcony
Lot Size Source: Assessor
Lot Size Square Feet: 7519
Parking Total: 10
Other Equipment: Garbage Disposal
Security Features: Automatic Gate, Carbon Monoxide Detector(s), Gated, Fire Sprinklers
Calculated Total Monthly Association Fees: 0
Number of Units: 10
Unit Features: 1 BedsTotal: 2, 1 BathsTotal: 2, 1 SquareFeet: 3450, 2 BedsTotal: 2, 2 BathsTotal: 2, 2 SquareFeet: 3450, 3 BedsTotal: 2, 3 BathsTotal: 2, 3 SquareFeet: 3450, 4 BedsTotal: 2, 4 BathsTotal: 2, 4 SquareFeet: 3450, 5 BedsTotal: 1, 5 BathsTotal: 1, 5 SquareFeet: 2695, 6 BedsTotal: 2, 6 BathsTotal: 2, 6 SquareFeet: 3450, 7 BedsTotal: 2, 7 BathsTotal: 2, 7 SquareFeet: 3450, 8 BedsTotal: 2, 8 BathsTotal: 2, 8 SquareFeet: 3450, 9 BedsTotal: 2, 9 BathsTotal: 2, 9 SquareFeet: 3450, 10 BedsTotal: 1, 10 BathsTotal: 1, 10 SquareFeet: 3450
Tenant Pays: Gas, Electric
County: Los Angeles
Cap Rate: 3.66
Directions: North of Wilshire
Source Property Type: Residential Income
Area: Santa Monica
Source Neighborhood: Santa Monica
Number of Separate Electric Meters: 10
Number of Separate Gas Meters: 10
Owner Pays: Water, Gardener
Parcel Number: 4281-035-019
Postal Code Plus 4: 5234
Zoning: SMR2
Source System Name: C2C
| Year | Assessments Building + Land Total | Tax |
|---|---|---|
| 2022 | $376,571 + $157,537 $534,108 | $8,353 |
| 2021 | $369,188 + $154,449 $523,637 | $8,078 |
| 2020 | $365,403 + $152,866 $518,269 | $8,018 |
| 2019 | $358,239 + $149,869 $508,108 | $7,937 |
| 2018 | $351,215 + $146,931 $498,146 | $7,426 |
| 2017 | $344,329 + $144,050 $488,379 | $7,338 |
| 2016 | $337,578 + $141,226 $478,804 | $6,994 |
| 2015 | $332,508 + $139,105 $471,613 | $6,909 |
| 2014 | $325,995 + $136,381 $462,376 | $6,899 |
| 2013 | $324,522 + $135,765 $460,287 | $6,860 |
| 2012 | $318,159 + $133,103 $451,262 | $6,725 |
| 2010 | $311,921 + $130,494 $442,415 | $6,462 |
| 2009 | $310,326 + $129,827 $440,153 | $6,309 |
| 2009 | $309,590 + $129,519 $439,109 | $6,309 |
| 2008 | $304,242 + $127,282 $431,524 | $6,194 |
| 2007 | $298,277 + $124,787 $423,064 | $6,062 |
$4,400,000
TheMLSCLAW
Year Built: 1968
Direction Faces: West
Levels: Split Level
Living Area Source: Assessor
Property Age: 56
Levels or Stories: 2
Building Total Stories: 2
Year Built Source: Vendor Enhanced
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The property loan eligibility may be subject to additional requirements beyond geographical location including but not limited to the condition of the property. Speak with a real estate professional to find out more about the eligibility of a specific property.