Commercial For Sale | Multifamily | Apartment building / Low Rise / Garden Style / 1-3 stories high
2721 6th Street . Ocean Park , CA 90405
For sale 22 units apartment building in Santa Monica, Ca.For more information please contact the listing agent, Aida Memary 818-212-2678 Aida.Memary@marcusmillichap.com
Posted: 11/08/2020 7:20 pm
| On HOMEiZ: 1266 days |
Updated: 3 years ago
| Views: 472
Location Map
Property Type
Sold
Property Price
$10100000
$10100000
11/09/2020
13,499.00
Sq. Ft.
$552
18306
Contact listing agent%
4.05%
$0
$409050
16.60
1.25%
$126250
Property Location & Description
For sale 22 units apartment building in Santa Monica, Ca.For more information please contact the listing agent, Aida Memary 818-212-2678 Aida.Memary@marcusmillichap.com
Rent Control
Built in 1971, the asset sits on 13,499 square feet of land with 18,306 square feet of rentable area and boasts a great unit mix of (2) Studio / 1-Bath, (12) 1-Bed /
1-Bath, and (8) 2-Bed / 2-Bath Units., presents an extremely rare value add opportunity for an
investor to capitalize on the estimated 40% upside potential in rents. Furthermore, the buyer will not have to worry about the costly expense of the
mandatory seismic retrofitting since the seller has already paid for and completed that work. The seller has also upgraded many units throughout the
building, adding a washer/dryer to each unit that he renovated.
The property also boasts an excellent amount of secure and gated parking spots for all its tenants and their guests, which is a true rarity in the notoriously
difficult parking neighborhood. Again, this is yet another reason why rents at this building can be pushed to the very top of Santa Monica rents.
Excellently located at 2721 6th Street, in Santa Monica, California. This property, located just 6 blocks from the world famous Santa Monica and Venice beaches
22
$459091
No.
Description
No. Units
Sq. Ft.
Avg. Mo. Rent
1.
0+1 Studio
2
2.
1+1
12
3.
2+2
8
4.
5.
2
1971
Good
Excellent Ocean Park Location
Excellent Unit Mix – Large Units
Ocean Views from Balconies
Walking Distance to the Beach
Plenty of Gated On-Site Parking
Property Information
Sewer
Sewer System (Public)
Parking
On-street
Assigned Parking
36
Investment Overview
Investor
Energy Efficiency
No
No Data
N/A
N/A
No
No
No
Neighborhood lifestyle
College Students
Urban Core
New Urban
More information
20-626374
Listing Presented by
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