729 Cedar Street, Santa Monica, CA 90405

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Glen Henderson

[email protected] +1(619) 889-7646

$2,395,000

Est. payment - /mo

6 Beds

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UPDATED:

Key Details

Property Type Multi-Family

Sub Type Res Income 2-4 Units

Listing Status Active

Purchase Type For Sale

MLS Listing ID SB25201120

Bedrooms 6

Property Sub-Type Res Income 2-4 Units

Property Type Res Income 2-4 Units

Property Description

Introducing a meticulously maintained investment opportunity in the heart of Santa Monicas sought-after Ocean Park neighborhood. Walkable distance from the beach and two blocks from the peaceful greenery of Joslyn Park, this solid asset offers exceptional value with a current CAP rate of 2.85%. Current expenses include a property management fee, $6,000 per year, so if the Buyer elects to self-manage the property and thereby eliminates management expenses, the potential CAP rate could increase to 3.1%, with a potential market CAP rate of 4.5% with market rents. Residents enjoy quick access to many everyday conveniences along Lincoln Boulevard, including Gelsons, Whole Foods Market, popular coffee shops, and a wide variety of restaurants, as well as the vibrant shops and dining of Abbot Kinney and Main Street. Santa Monicas excellent Transit Score of 75 and Bike Score of 72 make every destination within easy reach.

Location

State CA

County Los Angeles

Zoning Assessor

Direction Lincoln Bl and Cedar St

Interior

Fireplace No

Exterior

View Y/N No

Building

Story 2

Level or Stories 2

Others

Tax ID 4287001013

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Listed by Takeshi Kida Takeshi Kida

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Glen Henderson

+1(619) 889-7646

Broker Associate | CA BRE #01384181

Broker Associate CA BRE #01384181

San Diego Communities

729 Cedar Street Santa Monica, CA 90405

Glen Henderson

Key Details

Location

Interior

Exterior

Building

Others

Get More Information