Thank you
Han Chen
Growth Investment Group Pasade
626-594-4900
Priced at high 4.47% CAP Rate for this location, 2615 S 2nd St, a prime apartment complex boasting 7 units situated just 2 blocks from the water. The property is in the Ocean Park area, just a block from Main Street. Only 2 blocks from the beach, this property has an almost perfect walk score of 98 and bike score of 86. It is located in an excellent demographics area of ±$131,779 average household income within a mile radius. The property has been upgraded extensively and its soft-story parking has been seismically retrofitted. It has copper plumbing throughout, updated sewer line, updated electrical, and double pane windows throughout. In addition, the property has security camera systems installed. Almost turnkey condition where major systems have been upgraded and 6 out 7 units have been completely upgraded. The property is an attractive 2-story modern, mid-century apartment that was built in 1962. It offers an excellent curb appeal and has a total of ±4,696 square feet building size; it is situated on a ±6,487 square feet lot. The property offers six (6) 1bedroom+1bathroom and one (1) large 2bedroom+2bathroom units. All units (except #1) have been completely upgraded with modern upgrades which include recessed lighting, new flooring throughout, in-unit washer/dryer, new kitchen with quartz countertops + new kitchen cabinets + dishwasher, new bathroom with new vanity cabinets, and mirrored closet doors. The 2 bedroom unit is large and bright with desirable layout and has been fully upgraded. There are 7 assigned parking spaces (5 carports + 2 open). The parking soft-story area has been seismically retrofitted according to code. Each unit is separately metered for electricity and gas. Located in the southwest corner of Santa Monica is the Ocean Park neighborhood. The Ocean Park neighborhood is unique in the sense that it has one of the highest proportions of one, two, or no (studio) bedroom real estate of any neighborhood in America. This means it has a higher proportion of its residents employed as executives, managers and professionals – in comparison to the 98.4% of the neighborhoods in America. Many Santa Monica residents come to shop/browse on Main Street, home of many boutiques, restaurants, as well as a local farmer’s market every Sunday. SMASH (an alternative school), Olympic High and John Muir elementary are schools located in the neighborhood.
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Water Source : Public
Sewer : Public Sewer
Roof : Flat
Property Appliances: Dishwasher,Gas Range,Dryer,Washer
Fireplace: None
Flooring: Carpet,Vinyl,Wood
Wall/Window Unit(s)
Air Conditioning
Wall Furnace
Has Heating
Fireplace Features: None
Has Fireplace: 0
Year Built: 1962
Building Area Total: 4,696
Roof: Flat
Security System,Carbon Monoxide Detector(s),Smoke Detector(s),Security Lights
None
Inside,None
Lot Dimensions Source: Vendor Enhanced
Lot Size Acres: 0.1489
Lot Size Source: Assessor
Lot Size Square Feet: 6487
Original List Price: 3,800,000
Listing Contract Date: 2023-09-21
Listing Agreement: Exclusive Right To Sell
Parcel Number: 4287010033
Garage Description: Assigned,Carport
Lease Term: Negotiable
Tenant Pays: Electricity,Gas
Source Listing Status: Pending
Source Neighborhood: C14 - Santa Monica
Postal Code Plus 4: 4124
Directions: Ocean Park Blvd go south towards the beach, make left on 2nd St, property on left hand side
Zoning: SMOP2*
Source Property Type: Residential Income
Area: C14 - Santa Monica
Property SubType: Apartment
Property Age: 62
Common Walls: 2+ Common Walls
Property Condition: Updated/Remodeled
Structure Type: Apartment
Year Built Source: Assessor
Entry Level: 1
Entry Location: 1
Property Attached: Yes
Levels or Stories: Two
Building Total Stories: 2
Address | Estimate | Bed | Bath | Sq. Ft | Lot Size |
---|---|---|---|---|---|
Land, Santa Monica, CA,90405 | $2,250,000 | -- | -- | -- | 5865 Sqft |
2960 Neilson Way #401, Santa Monica, CA,90405 | $2,995,000 | 2 | 2 | 1,290 | 134111 Sqft |
619 Pacific Street, Santa Monica, CA,90405 | $2,250,000 | 2 | -- | 704 | 7451 Sqft |
130 Ocean Park Boulevar.., Santa Monica, CA,90405 | $2,595,000 | 2 | 2 | 1,425 | 196170 Sqft |
2960 Neilson Way #402, Santa Monica, CA,90405 | $2,295,000 | 1 | 1 | 1,168 | 134111 Sqft |
2403 Centinela Avenue, Santa Monica, CA,90405 | $3,990,000 | 11 | -- | 5,337 | 18027 Sqft |
118 Strand Street, Santa Monica, CA,90405 | $4,999,999 | 1 | 1 | 740 | 5930 Sqft |
443 Bay Street, Santa Monica, CA,90405 | $2,875,000 | 13 | -- | 5,532 | 5752 Sqft |
1513 Bay Street, Santa Monica, CA,90405 | $1,999,000 | 3 | 1 | 1,188 | 6595 Sqft |
1413 Ocean Park Bouleva.., Santa Monica, CA,90405 | $1,249,900 | 3 | 2 | 1,408 | 6439 Sqft |
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ByOwner last updated this listing 04/29/2024 @ 06:57
MLS: AR23176881
LISTED BY: Han Chen, Growth Investment Group Pasade
SOURCE: CRMLS
Buyer Agency Compensation: 2%
Buyer Agency Description: The listing broker's offer of compensation is made only to participants of the MLS where the listing is filed and if applicable, to participants of reciprocating MLS's as set forth in Association/MLS reciprocal agreements.