2338 Ocean Park Blvd - Apartments FOR SALE


Santa Monica, CA 90405- Sunset Park
$4,000,000 USD
626-688-8864
2338 Ocean Park Blvd, Santa Monica, CA for Sale
$4,000,000 USD
Apartments - FOR SALE
1/16
null | Request Cap Rate

2338 Ocean Park Blvd
Santa Monica, CA 90405
Sunset Park


HIGHLIGHTS

  • First Time on the Market in Over 35 Years
  • Double Lot | Zoned R3 Development Site on Ocean Park Blvd
  • Vacant 21-Key Motel with Parking
  • Must Sell – Submit All Offers

OVERVIEW

Built in 1947, 2338 Ocean Park Blvd consists of a ±3,700 SF structure situated on a combined ±13,976 SF site, comprised of two contiguous parcels—including a ±6,995 SF main lot and a separate ±6,981 SF dedicated parking lot. Located in the heart of Santa Monica, the property presents a compelling redevelopment opportunity zoned R3. The site is currently improved with a fully vacant 21-room motel, allowing a developer to pursue entitlements immediately without tenant relocation, buyouts, or operational delays. With the potential application of density bonus provisions, the site may support up to 23 residential units (buyer to verify). The property benefits from excellent visibility near a signalized intersection and strong traffic counts, enhancing its appeal for future development.

FOR SALE DETAILS

PRICE

$4,000,000 USD

PRICE/SF

$290 USD /SF

# OF UNITS

21

PRICE/UNIT

$190,476

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1947

PARKING SPACES

29

LAND DETAILS

LAND ACRES

0.16 AC

LAND SF

6,971 SF

ZONING

SMR3*

APN/PARCEL ID

4272-022-008

ASK ABOUT THIS PROPERTY

626-688-8864

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626-688-8864

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