440 Raymond Ave - Apartments FOR SALE


Santa Monica, CA 90405- Ocean Park
$7,750,000 USD
818-517-0845
440 Raymond Ave, Santa Monica, CA for Sale
$7,750,000 USD
Apartments - FOR SALE
1/24
null | 5.49% Cap Rate

440 Raymond Ave
Santa Monica, CA 90405
Ocean Park


HIGHLIGHTS

  • First time on the market in nearly 30 years
  • 15 of 20 units renovated
  • Copper plumbing, seismic retrofit & extensive system upgrades
  • Courtyard-style layout with gated parking
  • Approximately 5 blocks from the Pacific Ocean
  • Minutes to Venice, Playa Vista & Downtown Santa Monica

OVERVIEW

Realty Investment Advisors is pleased to present 440 Raymond Ave, a 20-unit multifamily investment opportunity located in the highly sought-after Ocean Park neighborhood of Santa Monica. Held by the same family since 1997, this offering represents a rare opportunity to acquire a Westside asset being offered for sale for the first time in nearly 30 years. Featuring a desirable courtyard-style layout, the property has benefited from significant capital improvements throughout ownership, including a complete copper plumbing repipe, upgraded electrical infrastructure, completed seismic retrofit work, security enhancements, and numerous common area improvements. Additionally, 15 of the property's 20 units have been renovated with updated kitchens and bathrooms, quartz countertops, upgraded cabinetry, wood flooring, ceramic tile finishes, crown molding, LED lighting, and updated appliances. Ownership has completed extensive renovations while leaving additional upside through continued unit turnover. Positioned approximately five blocks from the Pacific Ocean, residents enjoy convenient access to Main Street Santa Monica's restaurants, cafés, boutiques, fitness studios, and neighborhood-serving retail. The property is also located near the Santa Monica Farmers Market, Santa Monica Pier, Third Street Promenade, and the beach bike path. Located in the heart of Silicon Beach, 440 Raymond Ave benefits from proximity to major employment centers throughout Santa Monica, Venice, Playa Vista, Marina del Rey, and Culver City. Convenient access to Lincoln Boulevard, Pacific Coast Highway, and the I-10 Freeway further enhances accessibility throughout the Westside. 440 Raymond Ave offers investors a rare opportunity to acquire a well-located Ocean Park apartment asset being offered for sale for the first time in nearly 30 years, with extensive renovations, a walk-to-beach location, and continued rental upside.

FOR SALE DETAILS

PRICE

$7,750,000 USD

PRICE/SF

$490 USD /SF

# OF UNITS

20

PRICE/UNIT

$387,500

CAP RATE

5.49%

% LEASED

95%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Raymond Ave Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1969

PARKING SPACES

29

LAND DETAILS

LAND ACRES

0.32 AC

LAND SF

13,809 SF

ZONING

R3, Santa Monica

APN/PARCEL ID

4287-020-031

ASK ABOUT THIS PROPERTY

Benjamin HsiangRealty Investment AdvisorsMore Info
818-517-0845

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

Benjamin HsiangRealty Investment AdvisorsMore Info
818-517-0845

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