2711 Pico Blvd Santa Monica, CA 90405
Active
$6,550,000
16 Units
18 Beds
16 Baths
9,926 Area(sq.ft.)
20,782 Lot Size(sq.ft.)
| Type | # of Units | Bedroom | Bath | Furnished | Rent | Actual Rent | Projected Rent |
|---|---|---|---|---|---|---|---|
| Unit 1 | 14 | 1 | 1 | No | $ 1,899 | $ 26,590 | $ 35,000 |
| Unit 2 | 2 | 2 | 1 | No | $ 2,196 | $ 4,392 | $ 7,000 |
| 2 | 16 | 18 | 16 | $ 30,978 | $ 381,044 | $ 504,000 |
| MLS #: | 24-470083 |
| Days On Market: | 8 |
| County: | Los Angeles |
| Property Type: | Residential Income |
| Price per ft2: | $ 660 |
| Price per unit: | $ 409,375 |
| Year Built: | 1951 |
Property Details
A Santa Monica Developer's Dream! DELIVERED WITH 10 VACANT UNITS! We are proud to present 2711-2715 Pico Blvd, a rare 16-unit apartment property in the heart of Santa Monica, offering incredible potential for investors and developers alike. Set on a sprawling 20,897-square-foot lot, this property features two side-by-side buildings comprising 14 one-bedroom units and 2 two-bedroom units, all with charming hardwood floors. Parking is conveniently located at the rear of the property, adding to its tenant appeal. Plus, it's situated directly next door to a Starbucks, ensuring unparalleled convenience and walkability. This property presents a remarkable value-add opportunity through renovation or redevelopment. Zoned MUBL (Mixed-Use Boulevard), the site allows for FAR 2.0 and 45' height under base standards. Potential for FAR 2.5 and 55' height with 100% affordable housing projects (buyer to verify with the City of Santa Monica).Interested in this Listing?
Miami Residence will connect you with an agent in a short time.
Income Details
| Vacancy Rate: | 10% |
| Gross Operating Income: | $ 360,630 |
| Total Annual Expense: | $ 113,734 |
| Net Operating Income: | $ 246,896 |
| Gross Annual Income: | $ 371,784 |
| Cap Rate: | 3.77% |
| Gross Rent Multiplier: | 17.62 |
Structure
| Type of Units: | Apartments |
| Buildings: | 2 |
| Levels: | One |
Land & Parking
| Zoning: | SMC4* |
| Parking Garage: | Assigned |
| Total Parking: | 12 |
Interior
| AC/Cooling: | None |
| Equipment: | Range/Oven |
| Heating: | Wall |
Exterior
Detailed Map
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