Deal numbers

A cap rate estimate is not available for this property yet. Ask Alex for a pro forma using comparable rent data.

Property details

Bedrooms

11

Building size

9,485 sqft

Lot size

7,477 sqft

Year built

1957

Stories

2

Garage spaces

3

Heating

Wall Furnace

Cooling

Wall/Window Unit(s)

Status

Active

Days on market

19

MLS #

247205507

About this property

Large 11 unit building in the heart of Santa Monica. Offered at $314 per foot and $271,000 per unit. 9,485 square ft. building. There is nearly 40% upside in gross rental income when accounting for future vacancies. Excellent unit mix: 3 two-bedroom one bathroom and 7 one-bedroom one bathroom and 1 studio apartment, 8 onsite parking. Landlord will deliver 2 adjacent one car garages vacant. Located at 11th and Arizona, across from the Broad Stage. All units are occupied. Please do not walk on the property or disturb tenants. Inside with acceptable offer. Rent roll and OM are attached under docs. Expenses are estimated at 35% including new property tax, excluding management expense. All units have private patio or balcony.

Location

1301 11th Street

Santa Monica, Los Angeles, CA, 90401