Thank you
David Messiah
Lyon Stahl Investment Real Estate, Inc.
310-425-9838
1047 Ocean Park Blvd is a 5,296-square-foot, seven-unit apartment building located in the Ocean Park Submarket in the City of Santa Monica. Situated on a 6,617-sf corner lot, the property contains a highly desirable unit mix of (five) 2-bedroom/1-bathroom units and (two) studio units, while (one) 2-bedroom/1-bathroom unit is a spacious townhome. The property was retrofitted within the last two years; foundational work was completed in 2023, and a new concrete driveway was installed in November 2022. Furthermore, there are a total of ten parking spaces with four additional tandem spots. 1047 Ocean Park Blvd provides an investor with the opportunity to own a trophy asset in a desirable pocket of Santa Monica! The asset has a value-add component with approximately 42% in rental upside and a 6.50% pro-forma cap rate and 11.07 pro-forma GRM!
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Total Bedrooms : 0
Total Baths: 0
Full Baths: 0
Half Baths: 0
Property Appliances: Microwave,Dryer,Washer
Year Built: 1947
Building Area Total: 5,296
None
Lot Dimensions Source: Vendor Enhanced
Lot Size Acres: 0.152
Lot Size Source: Estimated
Lot Size Square Feet: 6619
Original List Price: 2,875,000
Listing Contract Date: 2024-02-20
Listing Agreement: Exclusive Right To Sell
Parcel Number: 4284009001
Garage Description: Carport
Lease Term: Negotiable
Source Listing Status: Active
Source Neighborhood: C14 - Santa Monica
Postal Code Plus 4: 3938
Directions: South of Pico Boulevard, West of Euclid Street, East of Lincoln Boulevard, North of Rose Avenue
Zoning: SMR3*
Source Property Type: Residential Income
Area: C14 - Santa Monica
Property Age: 77
Year Built Source: Vendor Enhanced
Total Square Feet Living: 5296
Levels or Stories: Two
Building Total Stories: 2
Address | Estimate | Bed | Bath | Sq. Ft | Lot Size |
---|---|---|---|---|---|
2960 Neilson Way #401, Santa Monica, CA,90405 | $2,995,000 | 2 | 2 | 1,290 | 134111 Sqft |
130 Ocean Park Boulevar.., Santa Monica, CA,90405 | $2,595,000 | 2 | 2 | 1,425 | 196170 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 |
2436 20th Street, Santa Monica, CA,90405 | $1,899,000 | 3 | -- | 1,691 | 7164 Sqft |
23 Sea Colony Drive, Santa Monica, CA,90405 | $3,900,000 | 3 | 2 | 2,332 | 127958 Sqft |
122 Strand Street, Santa Monica, CA,90405 | $2,050,000 | -- | -- | -- | 6093 Sqft |
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ByOwner last updated this listing 05/14/2024 @ 13:44
MLS: 24358301
LISTED BY: David Messiah, Lyon Stahl Investment Real Estate, Inc.
SOURCE: CRMLS
Buyer Agency Compensation: 2.5%
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.