Overview
- Residential
- 5
- 0
- 4
- 4454
- 196308
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.
Details
Updated on May 12, 2025 at 3:29 am Listed by Cameron Samimi, Lyon Stahl Investment Real Estate, Inc.- Property ID: 196308
- Price: $2,675,000
- Property Size: 4454 Sqft
- Land Area: 7513 Square Feet
- Bedrooms: 5
- Bathroom: 0
- Garages: 4
- Year Built: 1948
- Property Type: Residential
- Property Status: Active
Features
Mortgage Calculator
- Down Payment
- Loan Amount
- Monthly Mortgage Payment
- Property Tax
- Home Insurance
- PMI
- Monthly HOA Fees
