1811 Ocean Park Blvd - Apartments FOR SALE


Santa Monica, CA 90405- Sunset Park
$1,950,000 USD
818-201-4583
1811 Ocean Park Blvd, Santa Monica, CA for Sale
$1,950,000 USD
Apartments - FOR SALE
1/7
null | 4.64% Cap Rate

1811 Ocean Park Blvd
Santa Monica, CA 90405
Sunset Park


HIGHLIGHTS

  • Prime location in the Sunset Park neighborhood of Santa Monica
  • True value-add opportunity with 20% upside in rents
  • Lowest Price/Unit of all multifamily properties currently for sale in Santa Monica
  • Outdoor space available to tenants
  • Detached garage ideal for potential ADU
  • Surrounded by trendy coffee shops and restaurants

OVERVIEW

Kidder Mathews is pleased to present 1811 Ocean Park Boulevard, a 7-unit multifamily investment in the neighborhood of Sunset Park. Offered to the market for the first time in several decades, this prominently located multifamily property originally constructed in 1949 features Studio and Two-Bedroom apartments with abundant outdoor space and on-site parking. As an investment, the Property offers investors an incredible value-add opportunity. With approximately 20% upside in rents, an investor can implement a strategic interior and exterior renovation with the goal of increasing rents and taking advantage of the strength of the Santa Monica market. In addition, the property features a detached garage which provides excellent potential to create an Accessory Dwelling Unit (ADU) at the property. The property also features coin-operated laundry on-site. Located just west of the Santa Monica airport, this fantastic location has abundant coffee shops, restaurants, and shops, as well as easy access to parks, beaches, Downtown Santa Monica, Venice, Abbot Kinney, Mar Vista, and much more.

FOR SALE DETAILS

PRICE

$1,950,000 USD

PRICE/SF

$565 USD /SF

# OF UNITS

7

PRICE/UNIT

$278,571

CAP RATE

4.64%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1949

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.13 AC

LAND SF

5,798 SF

ZONING

SMR3

APN/PARCEL ID

4273-020-021

ASK ABOUT THIS PROPERTY

Bryan GlennKidder MathewsMore Info
818-201-4583

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Bryan GlennKidder MathewsMore Info
818-201-4583

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.