Commercial For Sale | Multifamily | Apartment building / Low Rise / Garden Style / 1-3 stories high
Price reduced
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2626 Cloverfield Boulevard
Santa Monica, CA 90405
County: Los Angeles

6948 sq. ft. | Lot size: 6046 sq. ft. Asking price: $4,995,000

12 Unit building with 10 fully renovated vacancies in Prime Santa Monica cash flowing at an incredible Current Cap Rate of 4.5% and 15.4 GRM from day 1! Priced at only 466k/door for renovated units with an amazing upside to 5.2% Cap Rate and 13.8 GRM on the proforma. Delivered with 10 fully renovated vacancies with permits including 8 vacant units plus 2 vacant brand-new attached ADUs. The vacancies have been completely renovated with permits and boast a high-end aesthetic with new modern cabinets, flooring, recessed lighting, new bathrooms, stainless steel appliances, washer/dryer inside, as well as major exterior capital improvements. Notably, there are Preliminary Plans for 2 additional detached ADUs over the open parking lot in the back that offer exceptional future upside potential. Contact , Listed by Armin Soleimani •DRE #01846872 • Global Platinum Properties, Inc. •310-666-2246 (agent) •arminsoleimani@gmail.com (agent) Listed by Julio Ruiz •DRE #01911261 • Global Platinum Properties, Inc.

Posted: 08/16/2022 3:35 pm | On HOMEiZ: 615 days | Updated: 5 days ago | Views: 943 | Saved to favorites: 2

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Listing ID: 3187 Status: Price reduced

For Sale

$4,995,000

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