Thank you
Keith Moret
Lyon Stahl Investment Real Estate, Inc.
310-425-9838
This classic 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 & 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 & downspouts. The location is spectacular! It is just 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 Park with tennis & 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.
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Total Bedrooms : 18
Total Baths: 18
Full Baths: 0
Half Baths: 0
Property Appliances: Disposal
None
Air Conditioning
Wall Furnace
Has Heating
Year Built: 1968
Building Area Total: 10,356
Carbon Monoxide Detector(s),Fire Sprinkler System,Security Gate,Gated Community
In Garage
Lot Dimensions Source: Vendor Enhanced
Lot Size Acres: 0.1726
Lot Size Source: Assessor
Lot Size Square Feet: 7519
Original List Price: 4,400,000
Listing Contract Date: 2024-04-11
Listing Agreement: Seller Reserved
Parcel Number: 4281035019
Lease Term: Negotiable
Tenant Pays: Electricity,Gas
Source Listing Status: Active
Source Neighborhood: C14 - Santa Monica
Postal Code Plus 4: 5234
Directions: North of Wilshire
Zoning: SMR2*
Source Property Type: Residential Income
Area: C14 - Santa Monica
Property Age: 56
Year Built Source: Vendor Enhanced
Total Square Feet Living: 10356
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 |
1019 6th Street, Santa Monica, CA,90403 | $4,450,000 | 13 | -- | 7,764 | 7496 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 |
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ByOwner last updated this listing 05/15/2024 @ 20:13
MLS: 24378867
LISTED BY: Keith Moret, Lyon Stahl Investment Real Estate, Inc.
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.