Property Type:Residential Income (Multi-Family)
On Site:5 Days
Lot Size:7,496 Sq. Ft.
1008 2nd Street is an incredible asset in the heart of LAs famed beach City of Santa Monica. Originally built in 1969, the building boasts an ideal unit mix consisting of all large 1 & 2 bedroom units. Each of these units are extremely spacious, have a terrific floor plan, and offer an abundance of natural light.There is significant rental upside and on-site parking for 21 cars as well as an on-site laundry facility. The unit mix includes (1) 2-bed, 3-bath with a den unit, (4) 2-bed, 2-bath units, (5) 1-bed, 2 bath with a den units, and (4) 1-bed, 1 bath units. This is a fantastic trophy asset in an undeniably attractive location that will surely pay long-term dividends to a savvy investor.A quick walk to Third Street Promenade and the beach, this rare offering presents an astute investor with the unique opportunity to capitalize on higher market rents and to acquire a premier turnkey asset in one of the best rental locations in all of Los Angeles.
$000 Monthly Payment
Loan and interest only. Taxes and insurance not included.
Address:1008 2nd St Santa Monica, CA 90403
Area:C14 - Santa Monica
Building Area: 15600.0
Number of Buildings: 1
Total Units: 14
Stories Total: 3
Unit 1: 4 Units•1 Bed•1 Bath•Unfurnished•$2,215 actual rent•$8,860 total rent•$12,780 pro forma
Unit 2: 5 Units•1 Bed•2 Baths•Unfurnished•$2,903 actual rent•$14,513 total rent•$20,475 pro forma
Unit 3: 4 Units•2 Beds•2 Baths•Unfurnished•$3,441 actual rent•$13,766 total rent•$17,180 pro forma
Unit 4: 1 Unit•2 Beds•3 Baths•Unfurnished•$4,542 actual rent•$4,542 total rent•$4,595 pro forma
Parking Features: Covered
Parking Total: 21.0
Lot Size: 0.17 Acres / 7,496 Sq. Ft.
Directions:1 block East of Ocean Avenue, in between California Avenue and Washington Avenue
Tax and Financial Info
Gross Income: $500,169
Net Operating Income: $301,220
Listing provided courtesy of Jonathan Taksa, Remax Commercial And Investment Realty.
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Based on information from California Regional Multiple Listing Service, Inc. as of October 17, 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.