1904 11th ST Santa Monica, CA 90404
Pending
$2,390,000
5%
8 Units
3 Beds
2 Baths
5,312 Area(sq.ft.)
7,486 Lot Size(sq.ft.)
| Type | # of Units | Bedroom | Bath | Furnished | Rent | Actual Rent | Projected Rent |
|---|---|---|---|---|---|---|---|
| Unit 1 | 7 | 1 | 1 | No | $ 13,969 | $ 13,969 | $ 17,223 |
| Unit 2 | 1 | 2 | 1 | No | $ 30 | $ 3,090 | $ 3,100 |
| 2 | 8 | 9 | 8 | $ 97,813 | $ 100,873 | $ 123,661 |
| MLS #: | SC25017110MR |
| Days On Market: | 30 |
| County: | Los Angeles |
| Property Type: | Residential Income |
| Price per ft2: | $ 450 |
| Price per unit: | $ 298,750 |
| Year Built: | 1986 |
Property Details
MAJOR PRICE REDUCTION. 5.53% current CAP factoring new taxes. No City of Santa Monica rent control; CA rent control only. Current 5.53% CAP with upside! Excellent curb appeal, pride of ownership property. The building is located in high tenant demand Pico area in the center of Santa Monica. The Pico area is known as one of the best neighborhoods in the City, and the Los Angeles area, with many restaurants and amenities nearby. Centrally located, just two miles from Santa Monica Beach, Santa Monica Pier and downtown. Close to many public transits stops and easy access to the 10 Freeway. Neighboring communities include the prime areas of Brentwood, West Los Angeles, Venice Beach and Marina Del Rey. Charming building with serene garden and beautiful buildings surrounding the property. Four units have been fully upgraded including in-unit laundry. One additional unit with partially upgraded kitchen and flooring and one unit has new bathroom. The unit mix consists of seven 1 bed/1 bath and one 2 bed/ 1 bath. Newly finished ADU unit being delivered tenant-ready, offering immediate upside. Property has been well maintained. New copper piping throughout the attic. Staircase redone 2014; New front fence 2021. Minimum maintenance requirements with upside potential from remaining non-upgraded units. Parking spaces in the back plus attached garage. No soft-story required. There is potential to convert garage to a second bedroom for the ADU. (Buyer to verify.) Two units deeded as low and moderate income until 2042. Buyer to verify any and all information regarding property. PLEASE DO NOT DISTURB TENANTS.Interested in this Listing?
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Income Details
| Rent Control: | False |
| Total Annual Expense: | $ 43,889 |
| Net Operating Income: | $ 160,819 |
| Cap Rate: | 5.2% |
| Gross Rent Multiplier: | 12.33 |
| Actual Gross Rent: | $ 179,880 |
Structure
| Community Features: | Curbs, Urban |
| Sewer: | Public Sewer |
| Water: | Public |
Land & Parking
| Zoning: | SMR2* |
| Land Lease Type: | Fee |
| Parking Garage: | Garage - 1 Car, Parking Space |
Interior
| Laundry: | Dryer, Dryer Included, Inside, Other, Washer, Washer Included |
Exterior
| Pool: | No |
Detailed Map
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