2626 Cloverfield Blvd - Apartments FOR SALE


Santa Monica, CA 90405- Sunset Park
$4,950,000 USD
424-405-3826
2626 Cloverfield Blvd, Santa Monica, CA for Sale
$4,950,000 USD
Apartments - FOR SALE
1/11
null | 5.93% Cap Rate

2626 Cloverfield Blvd
Santa Monica, CA 90405
Sunset Park


HIGHLIGHTS

  • Turnkey Renovated Asset in a Premier Coastal Market: Completely remodeled 12-unit apartment building with 11 one-beds and one studio near Clover Park
  • Immediate Upside Potential: Three vacant units provide the opportunity to achieve market-rate rents
  • High Quality Renovations: Fully renovated interiors with modern kitchens, updated baths, new flooring, and in-unit washer/dryer combos
  • Premier Coastal Location: Half-mile to Santa Monica College, less than two miles to the beach and Main Street, 10 minutes to the Santa Monica Pier
  • Affluent Tenant Base: Dense, high-income submarket with average household income exceeding $148,000 within a one-mile radius

OVERVIEW

Marcus & Millichap is pleased to present 2626 Cloverfield Boulevard, a renovated 12-unit apartment building in the world-renowned coastal market of Santa Monica, California. This offering represents an exciting opportunity to acquire a turnkey asset with remodeled interiors, strong in-place income, and immediate upside potential through the lease-up of three vacant units at market rents. Originally constructed in 1966, the property consists of eleven one-bedroom units and one studio, all of which have undergone comprehensive interior renovations. Unit upgrades include new flooring, modernized kitchens with updated cabinetry and appliances, in-unit washer/dryer combinations, contemporary bathrooms, and air conditioning in select units. The building is separately metered for gas and electricity. Exterior improvements include fresh paint, vibrant unit entries, and low-maintenance landscaping featuring turf, contributing to both curb appeal and reduced ongoing costs. The asset also offers six surface parking spaces. Positioned at the corner of Ocean Park Boulevard and Cloverfield Boulevard, the property benefits from exceptional proximity to Santa Monica’s most sought-after amenities. Santa Monica College is located just a half-mile away, while the beach and the vibrant dining and shopping corridor along Main Street are less than two miles. The iconic Santa Monica Pier and Third Street Promenade are accessible within a 10-minute drive. This prime coastal location continues to attract a strong tenant base, supported by an average household income exceeding $148,000 within a one-mile radius. 2626 Cloverfield Boulevard offers investors the ability to acquire a well-located, fully renovated asset with durable tenant demand, operational efficiencies, and clear near-term income growth in one of Southern California’s most supply-constrained and resilient rental markets.

FOR SALE DETAILS

PRICE

$4,950,000 USD

PRICE/SF

$832 USD /SF

# OF UNITS

12

PRICE/UNIT

$412,500

CAP RATE

5.93%

% LEASED

75%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1966

PARKING SPACES

5

LAND DETAILS

LAND ACRES

0.14 AC

LAND SF

6,098 SF

ZONING

SMR3*

APN/PARCEL ID

4273-012-016

ASK ABOUT THIS PROPERTY

Steve BogoyevacMarcus & MillichapMore Info
424-405-3826

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Steve BogoyevacMarcus & MillichapMore Info
424-405-3826

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