Property Type:Residential Income (Multi-Family)
On Site:10 Days
Lot Size:7,975 Sq. Ft.
Back on the Market. This property features 9,318 square feet of rentable area and is situated on a 8,000-square foot lot. The 7-unit building is composed of Two (2) XXL 2-bedroom/2-bathroom units with huge front decks that are approximately 1450 SF and Five (5) XL 2-bedroom/2-bathroom units that are approximately 1250 SF. Two of the units are high quality renovations (as seen in the pics). The rest are in great shape, just not high quality (new). Many have hardwood floors and granite in the kitchen. Each unit has a balcony or patio. The building has been well-maintained. The roof is four years old, it's 100% copper plumbing and has an updated electrical panel. 3 of the units have laundry hookups in unit, the rest use the laundry on site. It's gated and the EQ retrofit is complete. There's 11 on-site parking (2 tandem in the front and 2 tandem in the rear) for tenants. An upper 1250 SF Unit just rented for $4,800.
Agent Name:Peter Ciriello
Office Name:La Commercial
$000 Monthly Payment
Loan and interest only.
Address:848 18th St Santa Monica, CA 90403
Area:C14 - Santa Monica
Building Area: 9318.0
Number of Buildings: 1
Total Units: 7
Unit 1: 2 Units • 2 Beds • 2 Baths • Unfurnished • $3,379 actual rent • $6,758 total rent • $5,550 pro forma
Unit 2: 5 Units • 2 Beds • 2 Baths • Unfurnished • $3,553 actual rent • $17,765 total rent • $4,800 pro forma
Parking Features: Carport
Parking Total: 11.0
Features / Amenities
Patio And Porch: Deck, Enclosed
Entry Location: Ground Level w/steps
Security Features: Gated Community
Lot Size: 0.18 Acres / 7,975 Sq. Ft.
Directions:18th Street, just south of Montana
Tax and Financial Info
Buyer Financing: Cash
Cap Rate: 3.89
Gross Income: $297,876
Net Operating Income: $196,119
Tenant Pays: Electricity, Gas
Disclosures: Exclusions Disclosure, ListingBrokerAdvantage, RentControl
WALKING AND TRANSPORTATION
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Listing agent / office Peter Ciriello, La Commercial.
Based on information from California Regional Multiple Listing Service, Inc. as of September 27, 2022. 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.