Thank you
Jonathan Taksa
Remax Commercial and Investment Realty
213-817-1000
INCREDIBLE 5.11 CAP RATE WITH UPSIDE NORTH OF WILSHIRE!! We are pleased to offer for sale an incredible multifamily asset located at 1019 6th Street in the heart of LA's famed beach city of Santa Monica. Originally built in 1956, the building boasts an ideal unit mix consisting of all large 1 & 2-bedroom floor plans. Each of these units is spacious, has a terrific layout, and offers an abundance of natural light. Perfect for a long-term investor, the property has incredible rental upside, a secured intercom entrance, ample on-site parking (soft story retrofit has been completed), all copper plumbing, a newer roof, as well as an on-site laundry facility. The unit mix includes (7) 1-bed, 1-bath units and (2) 2-bed, 2-bath units. Many of the units have been luxuriously upgraded to the highest standards with hardwood flooring, custom window shutters, stainless steel appliances and quartz countertops, central HVAC (select units), recessed lighting, upgraded electrical, and an in-unit washer and dryer (select units). This is a fantastic trophy asset in an undeniably attractive location that will be a perfect addition to an investor's portfolio. A quick stroll to downtown Santa Monica, Montana Avenue, and the beach, this property is situated close to all Santa Monica has to offer. With incredible in-place income, enormous rental upside potential, and a secured tenant base, 1019 6th Street gives buyers the unique opportunity to own a generational asset in one of LA's most prized and coveted locations in Los Angeles.
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Total Bedrooms : 13
Total Baths: 13
Full Baths: 0
Half Baths: 0
Windows: Double Pane Windows
Property Appliances: Dishwasher,Disposal,Microwave,Refrigerator
Central Air
Air Conditioning
Central,Wall Furnace
Has Heating
Year Built: 1956
Building Area Total: 7,764
Gated Community
Common Area
Lot Dimensions Source: Vendor Enhanced
Lot Size Acres: 0.1721
Lot Size Source: Assessor
Lot Size Square Feet: 7496
Original List Price: 4,450,000
Listing Contract Date: 2023-11-20
Listing Agreement: Seller Reserved
Parcel Number: 4292006018
Garage Description: Attached Carport,Assigned,Covered
Attached Garage: Yes
Lease Term: Negotiable
Tenant Pays: Electricity,Gas
Source Listing Status: Active
Source Neighborhood: C14 - Santa Monica
Postal Code Plus 4: 3929
Directions: West of Lincoln Blvd., walking distance to the beach
Zoning: SMR2*
Source Property Type: Residential Income
Area: C14 - Santa Monica
Property Age: 68
Year Built Source: Assessor
Total Square Feet Living: 7764
Levels or Stories: Multi/Split
Address | Estimate | Bed | Bath | Sq. Ft | Lot Size |
---|---|---|---|---|---|
1040 4th Street #112, Santa Monica, CA,90403 | $699,900 | 1 | -- | 1,043 | 30025 Sqft |
1128 15th Street #6, Santa Monica, CA,90403 | $1,675,000 | 2 | 2 | 1,669 | 7506 Sqft |
825 Ocean Avenue, Santa Monica, CA,90403 | $7,999,000 | 20 | 20 | 6,593 | 11257 Sqft |
825 Ocean Avenue, Santa Monica, CA,90403 | $7,999,000 | -- | -- | -- | 11257 Sqft |
135 Montana Avenue #1BD.., Santa Monica, CA,90403 | $5,800 | 1 | 1 | 670 | 14998 Sqft |
101 California Avenue #.., Santa Monica, CA,90403 | $899,000 | 1 | 1 | 674 | 18751 Sqft |
930 15th Street #3, Santa Monica, CA,90403 | $3,535,000 | 3 | 3 | 2,781 | 7511 Sqft |
930 15th Street #2, Santa Monica, CA,90403 | $3,570,000 | 3 | 3 | 2,704 | 7511 Sqft |
519 California Avenue #.., Santa Monica, CA,90403 | $1,478,000 | 2 | 2 | 1,266 | 11228 Sqft |
2223 California Avenue, Santa Monica, CA,90403 | $3,195,000 | 3 | 3 | 1,950 | 5056 Sqft |
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ByOwner last updated this listing 04/29/2024 @ 18:16
MLS: 23333461
LISTED BY: Jonathan Taksa, Remax Commercial and Investment Realty
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.