7 Unit Santa Monica Income Property Located in Very Desirable Ocean Park Area Only 3 Blocks to the Beach!
Very unique, flexible Craftsman style income property w/peek of ocean view featuring 2 separate structures: perfect for an owner/occ. who wants to live in a detached house in the highly-desirable Ocean Park area of Santa Monica and yet generate substantial income (approx $10,00/mo. from front 5 units). Only 3 blocks to the beach, on a large 7,550 sq. ft. lot (150" x 50"). Let your lessees pay your mortgage!
In good condition w/newer copper plumbing, electric wiring, roof, premium paint job, gutters & spouts. Major renovation 2003, plus remodeled & renovated in 1988, 1991 & 2004 to conform to codes. Low maintenance, lessees pay own gas, electricity, hot water use, & outside lighting. No house lights or house gas bill. Perfect for large families, since there are 7 total units. Ocean view from top unit in back bldg (2 bdrm., 1 bath). This is one of the closest properties to the beach being offered in L.A. County. Could use as summer rentals. All offers will be accepted & presented.
OP2 zoning; accdg. to city planner, could build a roof deck for spectacular ocean views. 600 sq. ft. vacant lot included left of back house. Peek of ocean view. Low maintenance. Steps to world-class restaurants, shopping and entertainment venues. Pools and tennis close by, as are local theaters and a well known library. Accessible to local transportation. In an excellent location only 3 blocks from the beach.
In good condition w/newer copper plumbing, electric wiring, roof, premium paint job, gutters & spouts. Major renovation 2003, plus remodeled & renovated in 1988, 1991 & 2004 to conform to codes. Low maintenance, lessees pay own gas, electricity, hot water use, & outside lighting. No house lights or house gas bill. Perfect for large families, since there are 7 total units. Ocean view from top unit in back bldg (2 bdrm., 1 bath). This is one of the closest properties to the beach being offered in L.A. County. Could use as summer rentals. All offers will be accepted & presented.
OP2 zoning; accdg. to city planner, could build a roof deck for spectacular ocean views. 600 sq. ft. vacant lot included left of back house. Peek of ocean view. Low maintenance. Steps to world-class restaurants, shopping and entertainment venues. Pools and tennis close by, as are local theaters and a well known library. Accessible to local transportation. In an excellent location only 3 blocks from the beach.
Information
Contact Information
Pricing and Availability
Asking Price: $3,300,000
Income: $157,728
Expenses: $40,592
Cap Ratio: 3.6%
Property Location
Features
Square Footage: 7749
Zoning: OP2
Broker: First Team Real Estate
Property ID: MLS: S489832
Floors in Bldg: 2
Lot Size: 50 x 155
Exterior Amenities
Courtyard
Near Shopping
Near Public Transit
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