2615 2nd Street

    Santa Monica, CA 90405
    • $4,500,000
    • STATUS: Active
    • ON SITE: 104 days
    • ID#: AR19282612
    UPDATED: 35 min ago
    $4,500,000
    • 0
      BEDS
    • 0.15
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 4,696
      SQFT
    • $958
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1962
    County:

    School Ratings & Info

    Description

    3 units can be delivered vacant. 2615 2nd St, Santa Monica; a semi-upgraded 7-unit apartment property 2 blocks from the beach. The property is in the Ocean Park area, just a block from Main Street. Within blocks from the beach and stores along Main Street, this property has an extremely high walk score of 96. It is located in a super demographics region of +-$131,779 average household income within a mile radius.The property is an attractive 2-story modern, mid-century apartment that was built in 1962. It has a total of +-4,696 square feet building size and is situated on a +-6,487 square feet lot. The property has been upgraded extensively and its soft-story parking has been seismically retrofitted. It has new plumbing, new sewer line, and new electrical. In addition, the property has a security camera system installed. The property offers six (6) 1bedroom+1bathroom and one (1) 2bedroom+2bathroom units. There are 7 assigned parking spaces (5 carports + 2 open). All units (except #1) have been completely upgraded with modern upgrades which include new kitchen countertops, new kitchen cabinets, new flooring, newly tiled bathroom, mirrored closet doors, and in-unit washer/dryer.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2020-03-31T14:29:24.847. 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 Hart Coastal Group. Licensed in the State of California, USA.

    www.hartcoastal.com/homes/101784628

    2615 2nd Street Santa Monica, CA 90405

    • Price: $4,500,000
    • Status: Active
    • Updated: 35 min ago
    • ID#: AR19282612
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.15
    Acres
    4,696
    SQFT
    $958
    $/SQFT
    1962
    Built
    Neighborhood:
    C14 - Santa Monica
    County:
    Los Angeles
    Area:
    C14 - Santa Monica
    Property Description
    3 units can be delivered vacant. 2615 2nd St, Santa Monica; a semi-upgraded 7-unit apartment property 2 blocks from the beach. The property is in the Ocean Park area, just a block from Main Street. Within blocks from the beach and stores along Main Street, this property has an extremely high walk score of 96. It is located in a super demographics region of +-$131,779 average household income within a mile radius.The property is an attractive 2-story modern, mid-century apartment that was built in 1962. It has a total of +-4,696 square feet building size and is situated on a +-6,487 square feet lot. The property has been upgraded extensively and its soft-story parking has been seismically retrofitted. It has new plumbing, new sewer line, and new electrical. In addition, the property has a security camera system installed. The property offers six (6) 1bedroom+1bathroom and one (1) 2bedroom+2bathroom units. There are 7 assigned parking spaces (5 carports + 2 open). All units (except #1) have been completely upgraded with modern upgrades which include new kitchen countertops, new kitchen cabinets, new flooring, newly tiled bathroom, mirrored closet doors, and in-unit washer/dryer.
    Exterior Features

    Carport Spaces 4.00 Garage Spaces 0.00 Lot Features Rectangular LotLevel Lot Size Source Assessor Lot Size Units Square Feet Parking Features Assigned Parking Total 7.00 Parking YN Yes Pool Features None Pool Private YN No Property Attached YN Yes

    Interior Features

    Average Studio Area Units Square Feet Average1 Bed Area Units Square Feet Average2 Bed Area Units Square Feet Average3 Bed Area Units Square Feet Common Walls 2+ Common Walls Cooling Wall/Window Unit(S) Cooling YN Yes Heating Wall Furnace Heating YN Yes Laundry Features Dryer IncludedGas & Electric Dryer HookupWasher Included Levels Two

    Property Features

    Additional Parcels YN No Association Fee 0.00 Association YN No Building Area Units Square Feet Cap Rate 3.80 Community Features Urban Country Us Electric Expense 0.00 Elevation Units Feet Fuel Expense 0.00 Gross Income 262797.00 Gross Multiplier 17.12 Gross Operating Income 254913.00 Gross Scheduled Income 262797.00 Insurance Expense 2785.00 Land Lease YN No Laundry YN Yes Net Operating Income 170575.00 New Construction YN No New Taxes Expense 50900.00 Number Of Separate Electric Meters 8 Number Of Separate Gas Meters 8 Number Of Separate Water Meters 1 Operating Expense 84338.00 Professional Management Expense 0.00 Property Condition TurnkeyUpdated/Remodeled Property Sub Type Apartment Rent Control YN Yes Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Tenant Pays ElectricityGas Total Expenses 84338.00 Trash Expense 0.00 Utilities Cable ConnectedNatural Gas ConnectedPhone ConnectedSewer ConnectedWater Connected Vacancy Allowance Rate 3.00 Water Sewer Expense 3622.00 Water Source Public Year Built Source Assessor Zoning Smop2*

    Listing provided courtesy of Handoko Chen of Gig Real Estate Inc.


    Based on information from California Regional Multiple Listing Service, Inc. as of 2020-03-31T14:29:24.847. 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 Hart Coastal Group. Licensed in the State of California, USA.

     
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