1415 Centinela Ave

Santa Monica, CA 90404 View Map $2,495,000 Schedule a Tour
Sq.Ft. Lot7,564
Year1923
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Status: Active
Property Type:Residential Income (Multi-Family)
MLS #:20658892
On Site:155 Days
Lot Size:7,564 Sq. Ft.
County:Los Angeles
BRC Advisors -BH is proud to present for sale this value-add five-unit apartment property located at 1415 South Centinela Avenue, in Santa Monica, California. The property consists of three separate structures on one lot, consisting of an attractive unit mix with four (4) three-bedroom/two-bathroom units and a one-bedroom/one-bathroom unit. Situated on a 7,564 square foot lot, the property is located just south of Santa Monica Blvd. Three of the units have washer/dryers (see rent roll) and three units are currently vacant, allowing a buyer to immediately implement a renovation plan of those units and exterior areas to obtain maximum rents. Additionally, there are approximately seven onsite parking spaces and the units have separate water heaters, some of which are tankless. Upon renovating and renting the three vacant 3-bedroom units at the projected market rent of $3,795, a buyer will achieve a projected cap rate of 5.28% and a gross rent multiplier of only 13.0x!!!

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$000 Monthly Payment
Loan and interest only. Taxes and insurance not included.

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Price Change History

Date Old Price New Price Percent Change
1/14/2021$2,600,000$2,495,000-4%

Community Information

Address:1415 Centinela Ave Santa Monica, CA 90404
Zip Code:90404

Architecture

Year Built:1923
Number of Buildings: 3
Total Units: 5
Unit 8: 1 Unit•1 Bed•1 Bath•Unfurnished•$2,195 actual rent•$1,524 total rent•$2,195 pro forma
Unit 13: 4 Units•3 Beds•2 Baths•Unfurnished•$3,795 actual rent•$14,429 total rent•$15,180 pro forma

Property Features

Lot Size: 0.17 Acres / 7,564 Sq. Ft.
Zoning:SMR2*
Directions:just south of Santa Monica Blvd.

Tax and Financial Info

Gross Income: $192,399
Net Operating Income: $131,836
Disclosures: RentControl

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1415 Centinela Ave Santa Monica, CA 90404
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1415 Centinela Ave Santa Monica, CA 90404
 
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Listing provided courtesy of Ardy Ishal, Brc Advisors- Bh.
Based on information from California Regional Multiple Listing Service, Inc. as of May 15, 2021. 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.