2648 23rd St - Apartments FOR SALE


Santa Monica, CA 90405- Sunset Park
$3,200,000 USD
310-720-9299
2648 23rd St, Santa Monica, CA for Sale
$3,200,000 USD
Apartments - FOR SALE
1/13
null | 5.5% Cap Rate

2648 23rd St
Santa Monica, CA 90405
Sunset Park


HIGHLIGHTS

  • Six one car garages and one carport. . Individually metered, installed gas shutoff valves, and does not require seismic retrofitting
  • Each unit has its own water heater, back door, generous floor plans, and ample closet space.
  • Property improvements include a brand-new roof and gutters, copper plumbing, a waterproof deck over the garages, and beautifully designed landscaping
  • Seven of the eight units have been upgraded including SPC flooring, faux wood blinds, kitchen cabinets, new countertops, and gas stoves.
  • Potential ADU opportunity; buyer to conduct independent investigation

OVERVIEW

Beautiful Mid Century Modern 8-unit multifamily property in Santa Monica’s happening Sunset Park neighborhood on a large 9,283 square foot corner lot. Consists of four 2-bedroom/1-bath units and four 1-bedroom/1-bath units, with six 1-car garages and one carport. Built in 1949, approximately 6,294 square feet of building area. Sunset Park is happening with a strong rental demand, neighborhood shops and restaurants, nearby employment hubs, and proximity to Silicon Beach. The property is close to Santa Monica College, Bergamot Station, the Metro, Santa Monica’s office parks, and the broader Westside employment corridor. Santa Monica remains one of Southern California’s most desirable coastal rental markets, known for its lifestyle, beaches, restaurants, shopping, entertainment, schools, and access to major technology and media employers. Nearby communities include Venice Beach, Marina del Rey, Playa Vista, Brentwood, Westwood, Pacific Palisades, and West Los Angeles. Drive by only. Do not disturb tenants. For more detailed information please see Offering Memorandum

FOR SALE DETAILS

PRICE

$3,200,000 USD

PRICE/SF

$508 USD /SF

# OF UNITS

8

PRICE/UNIT

$400,000

CAP RATE

5.5%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1949

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.21 AC

LAND SF

9,283 SF

ZONING

R2

APN/PARCEL ID

4272-008-018

ASK ABOUT THIS PROPERTY

Francyne LambertLambert Investments IncMore Info
310-720-9299

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Francyne LambertLambert Investments IncMore Info
310-720-9299

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