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2728 Arizona Avenue, Santa Monica, CA

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2728 Arizona Avenue

Santa Monica, CA 90404 - Mid-City MF Submarket

Property Type:Multi-Family Number of Units:6 Status:Existing Year Built:1947
Stories:2 Building Size:4,230 SF Land Area:.14 AC (6,159 SF)
For Sale Price:$2,895,000 Price/Unit:$482,500.00 Cap Rate:3.60 % GRM:17.50

Parking:1.81 Parking Spaces / 1,000 SF

Sale Notes:
Priced at only 18.1 x current rents and 15.1 GRM with rents at market. 20.1% upside potential in rents. Great unit mix of 1/1 and 2/1 units, including a 2/1 Townhouse. Corner lot in prime Santa Monica location. 3.4% return with current rents; 5.3% return with market rents.

Three units will be delivered vacant at close of escrow
Three units have washer/dryer hookup

Financial Summary (Actual)
Operating Expenses: $58,255
Scheduled Gross Income: $165,372
Net Operating Income: $102,156
Effective Gross Income: $160,411

Keller Williams Commercial Santa Monica
Kimberly Stepp
(310) 702-0400

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