537 San Vicente Blvd Santa Monica, CA 90402
Active
$18,950,000
19%
33 Units
47 Beds
47 Baths
40,412 Area(sq.ft.)
22,157 Lot Size(sq.ft.)
| Type | # of Units | Bedroom | Bath | Furnished | Rent | Actual Rent | Projected Rent |
|---|---|---|---|---|---|---|---|
| Unit 1 | 19 | 1 | 1 | No | $ 2,670 | $ 50,737 | $ 70,205 |
| Unit 2 | 14 | 2 | 2 | No | $ 3,538 | $ 49,531 | $ 64,330 |
| 2 | 33 | 47 | 47 | $ 100,262 | $ 1,657,437 | $ 2,234,515 |
| MLS #: | 24-419953 |
| Days On Market: | 194 |
| County: | Los Angeles |
| Property Type: | Residential Income |
| Price per ft2: | $ 469 |
| Price per unit: | $ 574,242 |
| Year Built: | 1957 |
Property Details
JUST REDUCED AND NOW PRICED TO SELL. We are pleased to offer for sale an incredibly rare multifamily asset at 537 San Vicente Blvd. in the heart of LA's famed beach city of Santa Monica. Originally built in 1957, the building boasts an ideal unit mix consisting of all large 1 & 2 bedroom units. All of these units are extremely spacious, have a terrific floor plan, and offer an abundance of natural light. There is significant rental upside, and on-site parking for 33 cars (and a wrap around driveway for additional parking), an on-site laundry facility and beautiful sparkling pool. The unit mix includes (19) 1-bed, 1-bath units, and (14) 2-bed, 2-bath units. This is a fantastic trophy asset in an undeniably attractive location that will surely pay long-term dividends to a savvy investor. A quick walk to Montana Avenue and the beach, this rare offering presents an astute investor with the unique opportunity to capitalize on higher market rents and to acquire a premier turnkey asset in one of the best rental locations in all of Los Angeles.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: | $ 1,211,904 |
| Total Annual Expense: | $ 390,858 |
| Net Operating Income: | $ 784,950 |
| Gross Annual Income: | $ 1,203,204 |
| Gross Rent Multiplier: | 15.64 |
Structure
| Type of Units: | 1s,2s |
| Buildings: | 1 |
| Levels: | One |
Land & Parking
| Zoning: | SMR2* |
| Parking Garage: | Assigned, Subterranean |
| Total Parking: | 33 |
Interior
| AC/Cooling: | Wall/Window |
| Equipment: | None |
| Heating: | Wall |
Exterior
Detailed Map
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Income
