1802 Ocean Park Blvd Santa Monica, CA 90405
Active
$3,195,000
15%
7 Units
13 Beds
7 Baths
5,968 Area(sq.ft.)
6,905 Lot Size(sq.ft.)
| Type | # of Units | Bedroom | Bath | Furnished | Rent | Actual Rent | Projected Rent |
|---|---|---|---|---|---|---|---|
| Unit 1 | 1 | 2 | 1 | No | $ 2,384 | $ 2,384 | $ 3,500 |
| Unit 2 | 3 | 2 | 1 | No | n/a | n/a | $ 3,350 |
| Unit 3 | 1 | 2 | 1 | No | n/a | n/a | $ 3,500 |
| Unit 4 | 1 | 2 | 1 | No | n/a | n/a | $ 3,400 |
| Unit 5 | 1 | 1 | 1 | No | $ 1,905 | $ 1,905 | $ 2,250 |
| 5 | 7 | 13 | 7 | $ 4,289 | $ 4,289 | $ 22,700 |
| MLS #: | 24-395129 |
| Days On Market: | 156 |
| County: | Los Angeles |
| Property Type: | Residential Income |
| Price per ft2: | $ 535 |
| Price per unit: | $ 456,429 |
| Year Built: | 1949 |
Property Details
1802 Ocean Park Blvd, located in the Sunset Park neighborhood of Santa Monica is a pride of ownership seven-unit, 5,968 sq. ft., apartment building situated on a 6,905 sq. ft., lot zoned SMR3 built in 1949. The property consists of (4), 2 bedrooms, 1 bath unit located in the front building. Each unit has a spacious kitchen, washer dryer hook-ups and access to a rear service patio. The rear building consists of (2), 2 bedrooms, 1 bath units on the 2nd floor with (1), 1 bedroom, 1 bath until on the 1st floor. The building will be delivered with 5 units VACANT. The building has 6 parking garages of which 5 are currently rented. With its well-maintained exterior and stylish landscaped surroundings this building has great curb appeal which adds to the overall value of the property. The building's prime location adjacent to Sunset Park Village offers access to a great list of amenities including top-rated schools, trendy dining options, boutique shopping, parks, and recreation areas, making it an ideal choice for tenants seeking a Southern California lifestyle. To name a few great shops and restaurants there are: Local Kitchen & Wine Bar, Thyme Cafe & Market, Brook Rod, Bob's Market, Love Coffee, Handel's Ice Cream and Santa Monica Yoga. The educational school include, Little Dolphin Preschool, Will Rogers Elementary, John Adams Middle School, and Santa Monica City College. For Value Add - Perfect opportunity to covert the garage into ADU's - Possibly 2!Interested in this Listing?
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Income Details
| Rent Control: | Yes, 100% |
| Vacancy Rate: | 2807% |
| Gross Operating Income: | $ 277,861 |
| Total Annual Expense: | $ 82,523 |
| Net Operating Income: | $ 195,338 |
| Gross Annual Income: | $ 280,668 |
| Cap Rate: | 5.66% |
| Gross Rent Multiplier: | 12.30 |
Structure
| Type of Units: | 7 |
| Buildings: | 2 |
| Levels: | Two |
Land & Parking
| Zoning: | SMR3* |
| Parking Garage: | Converted Garage |
Interior
| AC/Cooling: | None |
| Equipment: | Built-Ins |
| Heating: | Wall |
| Laundry: | In Unit |
Exterior
Detailed Map
Schools
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