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

16

Building size

9,926 sqft

Lot size

20,987 sqft

Year built

1951

Stories

0

Heating

Wall Furnace

Cooling

None

Status

Active

Days on market

5

MLS #

248463166

About this property

A true Santa Monica developer's dream delivered with 10 vacant units. 2711-2715 Pico Blvd presents a rare opportunity to acquire a 16-unit apartment property in the heart of Santa Monica, offering exceptional value-add and redevelopment potential. Situated on an expansive 20,897 SF lot, the property consists of two side-by-side buildings totaling 16 units, including fourteen 1-bedroom units and two 2-bedroom units. Many units feature charming hardwood floors, and convenient rear parking enhances tenant appeal. The location offers strong walkability and daily convenience, positioned directly next to Starbucks and surrounded by neighborhood retail, dining, and residential density. Zoned MUBL (Mixed-Use Boulevard), the site provides attractive development flexibility with a base FAR of 2.0 and up to 45 feet in height. Potential exists for increased density up to FAR 2.5 and 55 feet for 100% affordable housing projects (buyer to verify with the City). Ideal for investors or developers seeking a prime Westside asset with immediate upside through renovation, lease-up, or new construction. Seller will carry, pls ask.

Location

2711 Pico Boulevard

Santa Monica, Los Angeles, CA, 90405