$4,995,000
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2626 Cloverfield Boulevard Santa Monica, CA 90405
Cluster
Residence
11
Beds
12
Baths
...
Bed/Bath
5,948
Sq. Ft.
Property Activity
Time on Site
days
Days on Market
Views
Saves
Huge 650k Price Reduction & Now 100% Occupied! 12 Unit building with 10 fully renovated units in Prime Santa Monica cash flowing at an incredible Current Cap Rate of 5.8% and 12.6 GRM from day 1! Priced at only 416k/door for renovated units with an amazing upside to 6.7% Cap Rate and 11.2 GRM on the... proforma. Delivered with 10 fully renovated units with permits including 8 remodeled units plus 2 brand-new attached ADUs. These units have been completely renovated with permits (100% occupied) 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. The property is located in the heart of Santa Monica just minutes away from the Beach and within close proximity to Santa Monica Business Park as well as hip neighborhood attractions, restaurants, bars, and shops such as Layla Bagels, Local Kitchen & Wine Bar, Estate Coffee, and many more popping up all around the area.
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MLS#
24464145
Property Type
Cluster
Bedrooms
11
Bathrooms
Year Built
1966
Square Feet
5,948
sq. ft
Lot Size
0.14
Stories
2.0
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