1143 Lincoln Blvd Santa Monica, CA 90403
Active
$3,850,000
7%
8 Units
24 Beds
16 Baths
10,434 Area(sq.ft.)
7,520 Lot Size(sq.ft.)
| Type | # of Units | Bedroom | Bath | Furnished | Rent | Actual Rent | Projected Rent |
|---|---|---|---|---|---|---|---|
| Unit 1 | 8 | 3 | 2 | No | $ 3,001 | $ 24,011 | $ 37,600 |
| 1 | 8 | 24 | 16 | $ 24,008 | $ 192,088 | $ 300,800 |
| MLS #: | 25491091 |
| Days On Market: | 15 |
| County: | Los Angeles |
| Property Type: | Residential Income |
| Price per ft2: | $ 369 |
| Price per unit: | $ 481,250 |
| Year Built: | 1976 |
Property Details
We are pleased to offer for sale an incredible multifamily asset located at 1143 Lincoln Blvd. in the heart of LA's famed beach city of Santa Monica. Originally built in1976, the building boasts an incredibly unique unit mix consisting of all very large 3-bedroom floor plans. Each of these units is spacious, has a terrific layout, and offers an abundance of natural light. Perfect for a long-term investor, the property has incredible rental upside, a secured intercom entrance, ample on-site parking, all copper plumbing, a newer roof, as well as an on-site laundry facility. The unit mix includes (8) 3-bed, 2-bath units. Many of the units have been upgraded with hardwood flooring, stainless steel appliances, and granite countertops. Additionally, units feature fireplaces and balconies. This is a fantastic trophy asset in an undeniably attractive location that will be a perfect addition to an investor's portfolio. A quick stroll to downtown Santa Monica, Montana Avenue, and the beach, this property is situated close to all Santa Monica has to offer. With incredible in-place income, enormous rental upside potential, and a secured tenant base, 1143 Lincoln Blvd. gives buyers the unique opportunity to own a generational asset in one of LA's most prized and coveted locations.Interested in this Listing?
Miami Residence will connect you with an agent in a short time.
Income Details
| Rent Control: | Yes, 100% |
| Gross Operating Income: | $ 289,529 |
| Total Annual Expense: | $ 99,331 |
| Net Operating Income: | $ 181,553 |
| Gross Annual Income: | $ 288,132 |
| Cap Rate: | 4.72% |
| Gross Rent Multiplier: | 13.30 |
Structure
| Type of Units: | 3s |
| Buildings: | 1 |
| Levels: | One |
Land & Parking
| Zoning: | SMR2* |
| Parking Garage: | Assigned |
| Total Parking: | 16 |
Interior
| AC/Cooling: | Wall/Window |
| Equipment: | Dishwasher, Microwave |
| Heating: | Wall |
Exterior
Detailed Map
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