1234 Harvard St Santa Monica, CA 90404
Active
$3,049,999
2%
6 Units
12 Beds
7 Baths
5,356 Area(sq.ft.)
6,990 Lot Size(sq.ft.)
| Type | # of Units | Bedroom | Bath | Furnished | Rent | Actual Rent | Projected Rent |
|---|---|---|---|---|---|---|---|
| Unit 1 | 1 | 1 | 1 | No | $ 2,351 | $ 2,351 | $ 2,600 |
| Unit 2 | 4 | 2 | 1 | No | $ 2,567 | $ 10,268 | $ 12,948 |
| Unit 3 | 1 | 3 | 2 | No | $ 3,482 | $ 3,482 | $ 4,250 |
| 3 | 6 | 12 | 7 | $ 16,101 | $ 46,905 | $ 58,642 |
| MLS #: | 24-429851 |
| Days On Market: | 84 |
| County: | Los Angeles |
| Property Type: | Residential Income |
| Price per ft2: | $ 569 |
| Price per unit: | $ 508,333 |
| Year Built: | 1961 |
Property Details
1234 Harvard St is located in a prime Santa Monica neighborhood just steps away from Erewhon, Los Angeles's premier luxury grocery store. This property offers an owner minimal low vacancy and fast turnovers due to its fantastic location and proximity to jobs and three grocery stores within a half-mile distance. The property is located nearby Wilshire Boulevard, offering residents each access to the beach, Santa Monica Promenade, or other job centers in LA such as Culver City, Century City, and Sherman Oaks. The property has been meticulously maintained by its current owners. The property features large balconies in some units and parking foreach unit. 1234 Harvard represents a unique opportunity to acquire a pride of ownership property in a great neighborhood of Santa Monica with an opportunity to capture over 27% in rental upside on currently occupied units and 44% upside inclusive of an ADU. Buyer to do their own due diligence regarding financials and ADU feasibility.Interested in this Listing?
Miami Residence will connect you with an agent in a short time.
Income Details
| Rent Control: | Yes, 100% |
| Vacancy Rate: | 3% |
| Gross Operating Income: | $ 193,527 |
| Total Annual Expense: | $ 66,319 |
| Net Operating Income: | $ 127,208 |
| Gross Annual Income: | $ 199,512 |
| Cap Rate: | 4.1% |
| Gross Rent Multiplier: | 15.50 |
Structure
| Type of Units: | Rental |
| Buildings: | 1 |
| Levels: | Two |
Land & Parking
| Zoning: | SMR2* |
| Parking Garage: | Carport, Assigned, Attached |
Interior
| AC/Cooling: | None |
| Equipment: | Dishwasher, Microwave, Ceiling Fan, Garbage Disposal |
| Heating: | Wall |
Exterior
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