UPDATED:
Key Details
Property Type Single Family Home
Sub Type Detached
Listing Status Active
Purchase Type For Sale
Square Footage 4,454 sqft
Price per Sqft $600
MLS Listing ID SB25072490
Style Detached
Bedrooms 5
HOA Y/N No
Year Built 1948
Lot Size 7,513 Sqft
Acres 0.1725
Property Sub-Type Detached
Property Description
** SELLER FINANCING AVAILABLE. CRAFTSMAN HOME + 4 UNITS** A rare opportunity to own a remodeled 5-unit property in the heart of Santa Monica. This 4,454 sq. ft. building sits on a spacious 7,510 sq. ft. R3 lot, offering excellent ADU potential and future development opportunities. The front house is a 2-bed/2-bath Craftsman home, which is vacant and ready for an owner-user or new tenant. It features a fireplace, bay window, large living room, hardwood floors, countertop island, in-unit washer and dryer, and both a front and side yard. Attached to it, through a separate entrance, is an attic space configured as a 1-bed/1-bath unit with a kitchenette, providing additional space and flexibility. The property's charming garden-style design enhances its curb appeal. The rear of the property includes four units: two 1-bed/1-bath units (one currently vacant) and two studio units, one of which includes a private deck, allowing an investor to maximize rental income. The building is in excellent condition, with seismic retrofitting completed, a relatively new roof, and copper plumbing. Additionally, there are four garages, two of which are separately rented, generating extra income. The property boasts a current cap rate of 5.05% and a GRM 13.14, making it a highly attractive investment. With a desirable unit mix, prime location, and potential for additional development, this is a phenomenal opportunity to invest or live in one of Santa Monica's most sought-after neighborhoods.
Location
State CA
County Los Angeles
Area Santa Monica (90401)
Zoning SMR3*
Interior
Cooling Other/Remarks
Flooring Wood
Fireplaces Type FP in Living Room, Other/Remarks
Equipment Dishwasher, Dryer, Refrigerator, Washer
Appliance Dishwasher, Dryer, Refrigerator, Washer
Exterior
Parking Features Garage - Single Door
Garage Spaces 4.0
View Other/Remarks
Total Parking Spaces 4
Building
Story 2
Lot Size Range 7500-10889 SF
Sewer Public Sewer
Water Public
Level or Stories Split Level
Others
Monthly Total Fees $102
Miscellaneous Urban
Acceptable Financing Seller May Carry
Listing Terms Seller May Carry
Special Listing Condition Standard
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