$3,874,000
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1111 Lincoln Boulevard Santa Monica, CA 90403
Cluster
Residence
18
Beds
18
Baths
...
Bed/Bath
10,356
Sq. Ft.
Property Activity
Time on Site
days
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This classic Mid-Centry Modern property in the Wilshire-Montana neighborhood is available for the 1st time in decades. It features 10 Huge Units averaging 1,000 SF each, and there is over 35% upside on rents. The unit mix is outstanding with (8) 2BR/2BA units, and (2) 1BR/1BA units. The low Price pe...r SF for the area ($441) makes this property the best value North of Wilshire. The building front features a lovely facade with brick planters and wainscotting that creates visually stunning curb appeal. There is secure subterannian parking with automatic gate, controlled access, and on-site laundry so tenants will feel safe and secure. There is no seismic retrofit required. The building systems have recently been updated with new paint/stucco exterior, parking gates front & back, and a new re-circulation pump, expansion tank and sump pump. Some of the plumbing supply lines have been re-piped with copper, and there is new carpeting in the exterior stairwells. The roof was also recently repaired and coated with silicone sealant, and there are new gutters & downspouts. The location is spectacular! It is just a few blocks from Inspiration Point, Palisades Park, the renowned Saint Monica's Prep School and Church, the 3rd Street Promenade, and across the street from Emerson Park with tennis & basketball courts, etc. The family has lovingly maintained this charming property for over 50 years and is now ready to a set a place at the table for a new owner. Your investment in this Prime location will be lucrative with a property that will be cost-effective to operate and easy to maintain.
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MLS#
24378867
Property Type
Cluster
Bedrooms
18
Bathrooms
Year Built
1968
Square Feet
10,356
sq. ft
Lot Size
0.17
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