511 Strand St

Santa Monica, CA 90405 View Map $1,998,000 Schedule a Tour
Beds5
Baths3
Sq.Ft.1,960
Year1961
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Status: Active
Property Type:Residential Income (Multi-Family)
MLS #:22186107
Sq. Feet:1,960
On Site:13 Days
Lot Size:5,611 Sq. Ft.
County:Los Angeles
Extraordinary Santa Monica triplex in a great location of Ocean Park, West of Lincoln, and only five blocks to the beach! This well-maintained corner property boasts TWO VACANT units (2/1 and standalone 1/1) and one tenant-occupied unit (middle unit 2/1 is rented). The vacant 1/1 has been remodeled with a newer kitchen and has a massive 10x20 deck. And the front vacant unit is also remodeled with gleaming hardwood floors, a newer electrical panels and some updated plumbing. Newer roof was completed in 2019. Located just blocks from Main Street and the beach dining, entertainment and near all of the major attractions that Santa Monica has to offer. The property offers two garages and large driveway for additional parking. Each unit has its own electric and gas meter. With the ability to obtain market rents in a highly desired neighborhood, this property offers investors or owner-users a great opportunity

Listing Agent/Office

Agent Name:Elizabeth C. Layne
Office Name:RE/MAX Estate Properties

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$000 Monthly Payment
Loan and interest only.

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Community Information

Address:511 Strand St Santa Monica, CA 90405
Zip Code:90405

Architecture

Bedrooms: 5
Bathrooms: 3
Year Built:1961
Stories:1
Building Area: 1960.0
Number of Buildings: 2
Total Units: 3
Stories Total: 1
Unit 1: 1 Unit•2 Beds•1 Bath•Unfurnished•$2,382 actual rent•$2,382 total rent•$3,600 pro forma
Unit 2: 1 Unit•1 Bed•1 Bath•Unfurnished•$2,500 pro forma
Unit 3: 1 Unit•2 Beds•1 Bath•Unfurnished•$3,600 pro forma
Foundation: Raised
Garage Spaces: 2.0
Parking Features: Door-Multi, Driveway, Garage
Parking Total: 3.0

Features / Amenities

Appliances: Dishwasher, Gas Cooktop, Disposal, Refrigerator
Fireplace Features: Dining Room, Living Room, Outside
Flooring: Wood
Direction Faces: West
Entry Location: Ground Level w/steps
Heating: Wall Furnace

Property Features

Lot Size: 0.13 Acres / 5,611 Sq. Ft.
Zoning:SMOP2*
Directions:North Of Ocean Park Blvd. and West of 4th street.

Tax and Financial Info

Cap Rate: 3.5
Gross Income: $99,072
Net Operating Income: $66,396
Tenant Pays: Electricity, Gas

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511 Strand St Santa Monica, CA 90405
GO SEE THIS LISTING
511 Strand St Santa Monica, CA 90405
 
ASAP
Wed
17
Aug
Thu
18
Aug
Fri
19
Aug
Sat
20
Aug
Sun
21
Aug
Mon
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Aug
Tue
23
Aug
Choose Your Date -- It's Free, Cancel Anytime
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Listing agent / office Elizabeth C. Layne, RE/MAX Estate Properties.
Based on information from California Regional Multiple Listing Service, Inc. as of August 16, 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.