101 Strand St Santa Monica, CA 90405
Active
$5,595,000
7 Units
9 Beds
9 Baths
5,728 Area(sq.ft.)
5,173 Lot Size(sq.ft.)
| Type | # of Units | Bedroom | Bath | Furnished | Rent | Actual Rent | Projected Rent |
|---|---|---|---|---|---|---|---|
| Unit 1 | 5 | 1 | 1 | No | $ 2,845 | $ 14,229 | $ 3,500 |
| Unit 2 | 2 | 2 | 1 | No | $ 5,523 | $ 11,046 | $ 6,250 |
| 2 | 7 | 9 | 7 | $ 25,271 | $ 93,237 | $ 30,000 |
| MLS #: | 24-462503 |
| Days On Market: | 8 |
| County: | Los Angeles |
| Property Type: | Residential Income |
| Price per ft2: | $ 977 |
| Price per unit: | $ 799,286 |
| Year Built: | 1955 |
Property Details
101 - 103 Strand Street is a prime OCEAN FRONT Santa Monica Beach Location! A rare opportunity for an Owner User to live at the beach with Ocean Views and have rental income. Seller Financing up to 80% for 2 Years for qualified buyer. There are no comparable multifamily buildings this close to the beach with Ocean Views that have sold and few comparable rentals. Condo sales in the area that are even close to this location have a comparable average of $1245 Per Sq Ft plus homeowners dues averaging $1587. OWNER'S UNIT: Upstairs 2 Bedrooms & 2 Baths. Ocean Front Views from both Bedrooms & Front Patio. Real hardwood floors throughout. Tiled flooring and granite counter tops in kitchen and bathrooms. Dual paned windows. Stack washer/dryer & lots of closet space. Copper Plumbing. 3 of the 7 units have laundry in the units, the other units have space to add stack washer/dryers and there is a laundry room on site with machines that are owned. This rare 7 unit apartment building directly across from the beach on Ocean Avenue boasts stunning Ocean views, Sunsets and sits just above the sandy shores of Santa Monica Beach. Live the experience of beachfront living. Get right onto the beach bike path or walk to Main Street with great restaurants and shopping. PLEASE DO NOT DISTURB TENANTS.Interested in this Listing?
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Income Details
| Vacancy Rate: | 1% |
| Gross Operating Income: | $ 304,188 |
| Total Annual Expense: | $ 86,638 |
| Net Operating Income: | $ 217,550 |
| Gross Annual Income: | $ 304,188 |
| Cap Rate: | 3.9% |
| Gross Rent Multiplier: | 18.39 |
| Actual Gross Rent: | $ 304,188 |
Structure
| Type of Units: | apartment |
| Buildings: | 1 |
| Levels: | Two |
Land & Parking
| Zoning: | SMOP3* |
| Parking Garage: | None |
Interior
| AC/Cooling: | None |
| Equipment: | Range/Oven |
| Heating: | Other |
Exterior
Detailed Map
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