An exceptional investment opportunity awaits in the bustling city of Santa Monica! Positioned near the vibrant crossroads of Montana Ave and 19th St, this expansive two-story building spans 7,180 square feet. Recently underwent Soft-Story Retrofit to meet LADBS regulations, it features six units: five boasting three bedrooms each, and one with two bedrooms. The property includes on-site covered parking, accommodating six cars with individual garages at the rear. With substantial potential for increased rental income, this property appeals to both owner-users and seasoned investors seeking to diversify their portfolios. Conveniently located just a stone's throw away from Trader Joe’s, Pavilions, and the Aero Theater, it offers proximity to a plethora of chic boutiques, diverse eateries, and entertainment options. Nestled amidst the vibrant Santa Monica Boulevard scene, and only minutes away from the sun-kissed shores of Southern California beaches, this property embodies the epitome of coastal living and urban convenience.
UPDATED RENT ROLL SHOWS INCREASE IN TOTAL ANNUAL GROSS SCHEDULED INCOME OF $4,424. GRM CHANGE TO 13.79, CAP RATE TO 4.62. Charming 6 Unit Garden Apartment building on a tree lined street, covered gated parking off an alley, vaulted ceilings, hardwood floors and open floor plans. Most units have their own private patios. Front unit has its own two car garage. Laundry (washer and dryer) onsite. Recently landscaped, termite inspection and repair (October 2024), SB-721 inspection report, Santa Monica Residential Building report, main plumbing inspection and drain cap repair, Centrally located in Mid-City Santa Monica between Santa Monica Boulevard and Colorado Avenue you are near public transportation, commercial amenities, restaurants, shopping, banking and hospitals. Seller and listing agent do not represent or warrant the information herein. Prospective buyers and agents should independently verify all information.
Duplex in Santa Monica. Front unit --> 3 Bdr / 1 ba with Living area w/ Dining. Back unit --> 2 Bdr 1 Ba unit with Living room, Dining Room + Spacious kitchen. Garage in Rear is converted into a 1 Bdr / 1 Bath unit. Close to the Beach, Shopping, schools & 10 & 405 Freeways.
Santa Monica is located in California. Santa Monica, California has a population of 92,828. Santa Monica is less family-centric than the surrounding county with 28.07% of the households containing married families with children. The county average for households married with children is 30.99%.
The median household income in Santa Monica, California is $99,847. The median household income for the surrounding county is $76,367 compared to the national median of $69,021. The median age of people living in Santa Monica is 41.4 years.
The average high temperature in July is 73.5 degrees, with an average low temperature in January of 49.3 degrees. The average rainfall is approximately 13.7 inches per year, with 0 inches of snow per year.
