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    1245 10th St

    Santa Monica, CA 90401
    • $5,050,000
    • STATUS: Active Under Contract
    • ON SITE: 51 days
    • ID#: NDP2100208
    Under Contract
    UPDATED: 17 min ago
    $5,050,000
    • 0
      BEDS
    • 0.17
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 7,512
      SQFT
    • $672
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1960
    County:

    School Ratings & Info

    Description

    Well maintained and ideally located, 11 unit investment opportunity in Santa Monica. The asset is generating $280k in gross income with potential income of $360k. Eight units are renovated and collecting market rents hedging risks of being stuck with legacy tenants while leaving 25% potential upside for added value and income. The location attracts ideal tenants seeking close proximity to tech companies, shopping, beaches, restaurants and a walkable, fun, lifestyle that demands healthy rents. The property features parking for all units. The building is under Santa Monica rent control. Each unit offers spacious, efficient and bright floor plans.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2021-02-28T13:26:49.833. 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 deemed reliable but is not guaranteed accurate by the MLS or Jessica Foote & Associates. Licensed in the State of California, USA.

    www.teamfooterealestate.com/homes/113068848
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    1245 10th St Santa Monica, CA 90401

    • Price: $5,050,000
    • Status: Active Under Contract
    • Updated: 17 min ago
    • ID#: NDP2100208
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.17
    Acres
    7,512
    SQFT
    $672
    $/SQFT
    1960
    Built
    Neighborhood:
    C14 - Santa Monica
    County:
    Los Angeles
    Area:
    C14 - Santa Monica
    Property Description
    Well maintained and ideally located, 11 unit investment opportunity in Santa Monica. The asset is generating $280k in gross income with potential income of $360k. Eight units are renovated and collecting market rents hedging risks of being stuck with legacy tenants while leaving 25% potential upside for added value and income. The location attracts ideal tenants seeking close proximity to tech companies, shopping, beaches, restaurants and a walkable, fun, lifestyle that demands healthy rents. The property features parking for all units. The building is under Santa Monica rent control. Each unit offers spacious, efficient and bright floor plans.
    Exterior Features

    Garage Spaces 0.00 Lot Features Landscaped Lot Size Units Square Feet Parking Total 0.00 Pool Features None Pool Private YN No Property Attached YN Yes

    Interior Features

    Common Walls 2+ Common Walls Laundry Features None

    Property Features

    Building Area Units Square Feet Cap Rate 3.58 Community Features Urban Fuel Expense 2464.00 Gross Income 286776.00 Gross Scheduled Income 286752.00 Insurance Expense 3300.00 Land Lease YN No Laundry YN No Net Operating Income 180966.00 New Taxes Expense 61105.00 Number Of Separate Electric Meters 12 Number Of Separate Gas Meters 12 Number Of Separate Water Meters 1 Operating Expense 286752.00 Professional Management Expense 11470.00 Rent Control YN Yes Security Features Carbon Monoxide Detector(S) Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Total Expenses 91448.00 Trash Expense 150.00 Water Sewer Expense 2464.00 Water Source Public Zoning Smr3

    Listing provided courtesy of Eric Von Bluecher of Lee & Associates


    Based on information from California Regional Multiple Listing Service, Inc. as of 2021-02-28T13:26:49.833. 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 deemed reliable but is not guaranteed accurate by the MLS or Jessica Foote & Associates. Licensed in the State of California, USA.

     
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