Property listed by Rodeo Realty, Jimmy Heckenberg 310-724-7100
$2,695,000
Presenting a rare value-add development in the heart of Santa Monica! Delivered RTI, this property is fully approved for a thoughtfully designed 7-unit apartment complex. The existing site currently offers a charming courtyard arrangement of four bungalow-style residences one one-bedroom and three two-bedrooms surrounding a sun-filled garden. The… Read More approved plans reimagine the property with a tasteful renovation of the existing units into Class A Spanish-style bungalows, while adding three new residences: a duplex thoughtfully placed in the center courtyard and a studio ADU above the garage. The result is a boutique collection of seven residences blending historic charm with modern functionality. With stamped permits in hand and no delay in starting construction, this is a true plug-and-play opportunity to create one of the few new multifamily offerings in one of the strongest and most supply-constrained rental markets in Los Angeles. A turnkey investment opportunity in a premier coastal locationthis is not to be missed! Read Less
Listing Snapshot
Days Online
0
Last Updated
Beds
7
Square Ft.
5,100
Lot Size
0.18 Acres
Year Built
1927
MLS Number
26691689
Additional Details
Building
Built in 1927, Living area: 5100.0, 2 buildings, 2 stories, Levels: MultiSplit
Cooling
None
Heating
None
Income
Gross Income: $387,600, Net Operating Income: $285,302
Lot
0.1842 acres
Parking
5 total parking spaces, None
Property
Fixer, RepairsMajor
Taxes
Parcel Number: 4277009003, Zoning: SMR2*
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Based on information from California Regional Multiple Listing Service, Inc. as of and/or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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