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

3

Lot size

5,328 sqft

Stories

1

Heating

Wall Furnace

Cooling

None

View

None

Status

Active

Days on market

136

MLS #

248388678

About this property

3 VACANT COTTAGES; with MANY POSSIBILITIES: RESTORE 3 1924 BUNGALOW COTTAGES? BUILD 3 CONDOS + 1 JR ADU? BUILD MORE UNITS? SB 79 allows for density bonuses (MORE UNITS) built near transit stops, and probably applies here/you investigate. 3 Cottages, vacant and currently not habitable; great restoration project. Property has water, sewer, electric and gas lines intact, new roofs. 4 BLOCKS TO BEACH & Prime MAIN STREET, SaMoHi and DOWNTOWN SANTA MONICA very close, PCH & 10 access. HIGHEST AND BEST USE: Build MULTI UNIT taking advantage of NEW CA DENSITY BONUSES (8 units nextdoor are on the same size lot) Some restrictions may apply. SB 79 may apply, (see ADDITIONAL DENSITY BONUSES in DOCS). OR: Build 4 New Condos (one block away, 1 condo SOLD LAST YEAR FOR $2.5M: check 1919 4th Street). Not on market in 60 years. Per ARCHITECT, 3 New Units of 1750 +/- sf each could be built PLUS 1 Jr ADU; per ARCHITECT from SANTA MONICA ARCHITECTURAL REVIEW BOARD; exceptions for lot width may apply; Parking access from cul-de-sac Alley. Statements from this listing not guaranteed of course; do your own investigations & verify all with City of Santa Monica.

Location

2005 4th Street

Santa Monica, Los Angeles, CA, 90405