** SELLER FINANCING AVAILABLE. CRAFTSMAN HOME + 4 UNITS** A rare opportunity to own a remodeled 5-unit property in the heart of Santa Monica. This 4,454 sq. ft. building sits on a spacious 7,510 sq. ft. R3 lot, offering excellent ADU potential and future development opportunities. The front house is… Read More a 2-bed/2-bath Craftsman home, which is vacant and ready for an owner-user or new tenant. It features a fireplace, bay window, large living room, hardwood floors, countertop island, in-unit washer and dryer, and both a front and side yard. Attached to it, through a separate entrance, is an attic space configured as a 1-bed/1-bath unit with a kitchenette, providing additional space and flexibility. The property's charming garden-style design enhances its curb appeal. The rear of the property includes four units: two 1-bed/1-bath units (one currently vacant) and two studio units, one of which includes a private deck, allowing an investor to maximize rental income. The building is in excellent condition, with seismic retrofitting completed, a relatively new roof, and copper plumbing. Additionally, there are four garages, two of which are separately rented, generating extra income and two of which are vacant. The property boasts a current cap rate of 5.29% and a GRM 12.69, making it a highly attractive investment. With a desirable unit mix, prime location, and potential for additional development, this is a phenomenal opportunity to invest or live in one of Santa Monica's most sought-after neighborhoods. Read Less
Courtesy of Lyon Stahl Investment Real Estate, Inc. 310-425-9838
Listing Snapshot
Days Online
100
Last Updated
Property Type
Other
Beds
5
Square Ft.
4,454
Lot Size
0.17 Acres
Year Built
1948
MLS Number
25506801
30 Days Snapshot Of 90401
$2.49M
+166%
(avg) sold price
2
+100%
homes sold
66
-37%
(avg) days on market
Snapshot
Area Map
Additional Details
Appliances & Equipment
Gas Dryer Hookup, Refrigerator, Washer, Dishwasher, Dryer, Freezer
Building
4,454 sq ft, Built in 1948, Levels: Multi/Split
Disclosures
As Is
Floors
Hardwood
Garage
Garage - 1 Car, Garage - 4+ Car
Lot
LotAcreage: 0.1725, LotSizeArea: 7,513
Parking
TotalParking: 4
Property
NumberOfUnits: 5, Zoning: SMR3*
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