724 Ashland Avenue

    Santa Monica, CA 90405
    • $3,500,000
    • STATUS: Active
    • ON SITE: 7 days
    • ID#: 20566790
    UPDATED: 44 min ago
    $3,500,000
    • 0
      BEDS
    • 0.13
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1956
    County:

    School Ratings & Info

    Description

    Year One 4.76% Cap Rate!! We present a modern fully renovated quadruplex conveniently located in prime Santa Monica, one of the highest demand apartment rental markets in the county. Built in 1956 and repositioned in 2019/2020, the complex offers and incredible unit mix of three newly complete 3bed/2/bath units and one 2bed/1bath unit (delivered vacant after escrow, convertible to a 3bed/3bath like others). Designed by architect Michael Tersigni, each tailored home features wide plan white oak flooring, expansive windows, and custom LED lighting. Each kitchen is outfitted with Ceaserstone counters, Bertazzoni appliances, including dishwasher, and Moen hardware. Baths feature Duravit deep soaking tubs and rain showers. The property features a large patio/common area and ample parking and storage for all units. This meticulously maintained four-plex presents a rare opportunity for an investor to acquire a remodeled asset and finish the final unit to achieve a ~5.15% Cap Rate.

    Monthly Payment Calculator



    Based on information from California Regional Multiple Listing Service, Inc. as of 2020-04-02T22:26:57.49. 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/104520014

    724 Ashland Avenue Santa Monica, CA 90405

    • Price: $3,500,000
    • Status: Active
    • Updated: 44 min ago
    • ID#: 20566790
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.13
    Acres
    1956
    Built
    Neighborhood:
    C14 - Santa Monica
    County:
    Los Angeles
    Area:
    C14 - Santa Monica
    Property Description
    Year One 4.76% Cap Rate!! We present a modern fully renovated quadruplex conveniently located in prime Santa Monica, one of the highest demand apartment rental markets in the county. Built in 1956 and repositioned in 2019/2020, the complex offers and incredible unit mix of three newly complete 3bed/2/bath units and one 2bed/1bath unit (delivered vacant after escrow, convertible to a 3bed/3bath like others). Designed by architect Michael Tersigni, each tailored home features wide plan white oak flooring, expansive windows, and custom LED lighting. Each kitchen is outfitted with Ceaserstone counters, Bertazzoni appliances, including dishwasher, and Moen hardware. Baths feature Duravit deep soaking tubs and rain showers. The property features a large patio/common area and ample parking and storage for all units. This meticulously maintained four-plex presents a rare opportunity for an investor to acquire a remodeled asset and finish the final unit to achieve a ~5.15% Cap Rate.
    Exterior Features

    Lot Size Source Other Lot Size Units Square Feet

    Property Features

    Gross Income 230400.00 Gross Multiplier 15.20 Gross Operating Income 230400.00 Net Operating Income 166647.00 Senior Community YN No Special Listing Conditions Standard Zoning Smop2*

    Listing provided courtesy of Elijah Korobkin of Central Realty Advisors Inc


    Based on information from California Regional Multiple Listing Service, Inc. as of 2020-04-02T22:26:57.49. 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.

     
    Hart Coastal Group
    57 Via Zaragoza
    San Clemente CA, 92672