Description
Spanish style 20 unit property in Santa Monica near the 3rd Street Promenade. Offering 500-700 SF 1-bedroom and Junior 1-bedroom (alcove studio) units in an ultra prime location with walkable retail and dining options. The building consists of (16) Junior alcove 1 bedroom 1 bath units, and (4) 1 bedroom 1 bath units. The property boasts strong in place cash flow with rental upside coming from at least 2 ADUs that could be added to the property. The secure entryway, center hallway, offers a character building in a super location to an affluent renter demographic. The building is master-metered for gas and has street parking only. The Property has a basement with Laundry. The basement is big enough to add 2 ADUs, each approximately 300 SF. The property size offers immediate scale and a strong foothold in one of the West Side of Los Angeles most desirable submarkets. There is an assumable loan until 12/2026.
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Neighborhood & Market Insights
This property is 147.6% above the current neighborhood median.
The schools block is active and ready for district, ratings, and assigned-school provider data.
12.9% modeled change across available points
- Principal and Interest
- Property Tax
- HOA fee
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