1014 Pier Ave Santa Monica, CA 90405
Active
$2,100,000
2 Units
5 Beds
2.50 Baths
2,210 Area(sq.ft.)
4,813 Lot Size(sq.ft.)
| Type | # of Units | Bedroom | Bath | Furnished | Rent | Actual Rent | Projected Rent |
|---|---|---|---|---|---|---|---|
| Unit 1 | 1 | 2 | 1 | No | $ 1,986 | $ 1,986 | $ 5,500 |
| Unit 2 | 1 | 3 | 1.50 | No | n/a | n/a | $ 6,000 |
| 2 | 2 | 5 | 3 | $ 1,986 | $ 1,986 | $ 11,500 |
| MLS #: | 24-445315 |
| Days On Market: | 55 |
| County: | Los Angeles |
| Property Type: | Residential Income |
| Price per ft2: | $ 950 |
| Price per unit: | $ 1,050,000 |
| Year Built: | 1948 |
Property Details
Enchanting Duplex in the Heart of Sunset Park discover the allure of Santa Monica living in the highly coveted neighborhood, just a leisurely stroll from the restaurants and shops of Lincoln Boulevard, Abbot Kinney, Rose Ave, and Main Street, Santa Monica. The beach is less than a mile away!Two stand-alone homes each with their own private yard sit on this spacious 4,800 SF lot. Live in one unit while enjoying rental income from the other. Enter through the front gate and find yourself amongst the lush mature trees and foliage providing a truly serene and peaceful setting. The front house has two bedrooms and one bath, with hardwood floors throughout. This inviting home features a spacious open living and dining area, perfect for relaxation. Enjoy your own tranquil front yard retreat, ideal for morning coffee or quiet evenings under the stars.The rear home has three spacious bedrooms and one and half baths. This spacious unit comes with generous outdoor areas, including a front yard and patioperfect for entertaining friends or basking in the California sun. This unit is currently vacant, it presents an exciting opportunity with a projected market rent of $6,000.A four-car garage (800 SF) awaits your creative touch, offering potential for conversion into an additional unit. For those considering owner occupancy of the front unit the attached documents outline the Santa Monica rent control laws which indicate a $36,600 tenant relocation fee with a 60-day notice required. Please refer to the attached documents from the City of Santa Monica for further details.Don't miss this incredible opportunity to own in one of the best neighborhoods in Santa Monica!Interested in this Listing?
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Income Details
| Gross Operating Income: | $ 138,000 |
| Total Annual Expense: | $ 28,810 |
| Net Operating Income: | $ 109,190 |
| Gross Annual Income: | $ 0 |
| Gross Rent Multiplier: | 15.20 |
| Actual Gross Rent: | $ 138,000 |
| Actual Gross Income: | $ 138,000 |
| Actual Rent Total: | $ 138,000 |
Structure
| Type of Units: | Stand Alone |
| Buildings: | 2 |
| Levels: | One |
| Security Features: | Prewired for alarm system, Card/Code Access |
| Style: | Bungalow |
| Sewer: | In Street |
| View Description: | City Lights |
Land & Parking
| Zoning: | SMR2* |
| Parking Garage: | Garage - 4+ Car |
Interior
| Cooking Appliances: | Cooktop - Gas, Gas |
| AC/Cooling: | Air Conditioning |
| Equipment: | Dishwasher, Freezer, Refrigerator, Range/Oven, Washer, Dryer |
| Heating: | Central |
| Laundry: | In Unit |
| Laundry Equipment: | Own |
Exterior
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