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Property Type:Residential Income (Multi-Family)
Lot Size:0.13 Acres
Year One 4.76% Cap Rate!! We present a modern fully renovated quadruplex conveniently located in prime Santa Monica, one of the highest demand apartment rental markets in the county. Built in 1956 and repositioned in 2019/2020, the complex offers and incredible unit mix of three newly complete 3bed/2/bath units and one 2bed/1bath unit (delivered vacant after escrow, convertible to a 3bed/3bath like others). Designed by architect Michael Tersigni, each tailored home features wide plan white oak flooring, expansive windows, and custom LED lighting. Each kitchen is outfitted with Ceaserstone counters, Bertazzoni appliances, including dishwasher, and Moen hardware. Baths feature Duravit deep soaking tubs and rain showers. The property features a large patio/common area and ample parking and storage for all units. This meticulously maintained four-plex presents a rare opportunity for an investor to acquire a remodeled asset and finish the final unit to achieve a ~5.15% Cap Rate.
$000 Monthly Payment
Loan and interest only. Taxes and insurance not included.
Address:724 Ashland Avenue Santa Monica, CA 90405
Area:(C14) Santa Monica
Total Units: 4
Unit 1: 1 Unit•3 Beds•2 Baths•Unfurnished•$5,000 actual rent•$5,000 total rent•$5,000 pro forma
Unit 6: 1 Unit•3 Beds•2 Baths•$5,000 actual rent•$5,000 total rent•$5,000 pro forma
Unit 7: 1 Unit•3 Beds•2 Baths•$5,200 actual rent•$5,200 total rent•$5,200 pro forma
Unit 8: 1 Unit•2 Beds•1 Bath•$4,000 actual rent•$4,000 total rent•$5,200 pro forma
Lot Size: 0.13 Acres / 5493 Sq. Ft.
Directions:North of Rose Ave, South of Ocean Park Blvd, East of Pacific Ave, West of Lincoln Blvd
Tax and Financial Info
Gross Annual Income: 230400.00
Gross Operating Income: 230400.00
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Listing provided courtesy of Elijah Korobkin, Central Realty Advisors Inc.
Based on information from California Regional Multiple Listing Service, Inc. as of April 4, 2020. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. IDX provided by Sierra Interactive.