2626 Cloverfield Blvd

Santa Monica, CA 90405 View Map $4,995,000 Schedule a Tour
Beds11
Baths14
Sq.Ft.6,948
Year1966
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Status: Active
Property Type:Residential Income (Multi-Family)
MLS #:22186863
Sq. Feet:6,948
On Site:12 Days
Lot Size:6,046 Sq. Ft.
County:Los Angeles
10 Unit building with 6 vacancies and preliminary plans for 4 ADUs in Prime Santa Monica priced at only 388k/door for mostly vacant units. Incredible current 5% Cap Rate and 14.6 GRM after renovations with upside to 6.4% Cap Rate and 12.1 GRM on the proforma. There are Preliminary plans to add 4 ADUs including 2 Attached Studio units in the Garages + 2 detached one-bed units in the back parking area. The building is within walking distance to Clover Park and many businesses and restaurants along Ocean Park Blvd. This is a true value-add opportunity in Santa Monica and a perfect 1031 exchange opportunity. Santa Monica has become a new hub for many tech companies as they are extending their offices in Santa Monica. In recent years, the area has transformed into a headquarters hub, home to some of the most recognized companies in the world including Beach Body, Lionsgate, Tastemade, and ZipRecruiter, The Honest Company, among many others. Santa Monica has become one of LA's hottest and most expensive neighborhoods bursting with restaurants, art galleries, shopping, and tech/entertainment/media headquarters. Price/Unit, Cap Rate, & GRM are based on Total Price for sake of conservatism, which includes construction costs of ADUs.

Listing Agent/Office

Agent Name:Julio Ruiz
Office Name:Global Platinum Properties, Inc.

Mortgage Calculator

$000 Monthly Payment
Loan and interest only.

Detailed Maps

Community Information

Address:2626 Cloverfield Blvd Santa Monica, CA 90405
Zip Code:90405

Architecture

Bedrooms: 11
Bathrooms: 14
Year Built:1966
Stories:2
Style:Traditional
Construction Materials: Stucco
Building Area: 6948.0
Number of Buildings: 1
Total Units: 14
Stories Total: 2
Unit 1: 1 Unit•1 Bed•1 Bath•Unfurnished•$2,750 actual rent•$2,750 pro forma
Unit 2: 1 Unit•1 Bed•1 Bath•Unfurnished•$2,750 actual rent•$1,578 total rent•$2,750 pro forma
Unit 3: 1 Unit•1 Bed•1 Bath•Unfurnished•$2,750 actual rent•$885 total rent•$2,750 pro forma
Unit 4: 1 Unit•1 Bed•1 Bath•Unfurnished•$2,750 actual rent•$2,750 pro forma
Unit 5: 1 Unit•1 Bed•1 Bath•Unfurnished•$2,750 actual rent•$2,750 pro forma
Unit 6: 1 Unit•1 Bed•1 Bath•Unfurnished•$2,750 actual rent•$2,750 pro forma
Unit 7: 1 Unit•1 Bed•1 Bath•Unfurnished•$2,750 actual rent•$2,750 pro forma
Unit 8: 1 Unit•1 Bed•1 Bath•Unfurnished•$2,750 actual rent•$1,586 total rent•$2,750 pro forma
Unit 9: 1 Unit•1 Bed•1 Bath•Unfurnished•$2,750 actual rent•$907 total rent•$2,750 pro forma
Unit 10: 2 Units•1 Bath•Unfurnished•$2,250 actual rent•$2,250 pro forma
Unit 11: 1 Unit•1 Bed•1 Bath•Unfurnished•$2,750 actual rent•$2,750 pro forma
Unit 12: 1 Unit•1 Bed•1 Bath•Unfurnished•$2,750 actual rent•$2,750 pro forma
Unit 13: 1 Unit•1 Bath•Unfurnished•$2,250 actual rent•$2,250 pro forma
Foundation: Slab
Parking Features: Uncovered
Parking Total: 9.0

Features / Amenities

Interior Features: Ceiling Fan(s)
Security Features: Gated Community
Heating: Wall Furnace

Rooms

Bathroom

Property Features

Lot Size: 0.14 Acres / 6,046 Sq. Ft.
Zoning:SMR3*
Directions:The propertybis licated on the corner of Cloverfield and Ocean Park Blvd.

Tax and Financial Info

Cap Rate: 5.0
Gross Income: $371,472
Net Operating Income: $270,002

Schools

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2626 Cloverfield Blvd Santa Monica, CA 90405
GO SEE THIS LISTING
2626 Cloverfield Blvd Santa Monica, CA 90405
 
ASAP
Wed
17
Aug
Thu
18
Aug
Fri
19
Aug
Sat
20
Aug
Sun
21
Aug
Mon
22
Aug
Tue
23
Aug
Choose Your Date -- It's Free, Cancel Anytime
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Listing agent / office Julio Ruiz, Global Platinum Properties, Inc..
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.