Six units with 44% in rental upside for the new investor with one of the lowest, asking price per foot in Santa Monica at $448/ft, this multifamily asset combines both great value, tremendous opportunity to add equity plus cash flow due to the fantastic location and quality tenant fundamentals found in Santa Monica. The A+ location is in close proximity to boutique and luxury shopping, Michelin and James Beard awarded restaurants, word class beaches, top tech companies accompanied with a matching tenant base that features 60% college educated earning $40,000 more than the national average.
Six unit investment opportunity in Santa Monica featuring upside, low price per foot, large units, parking and location. The asset is generating $156k
in gross income with potential income of $234k. Two units are currently vacant and one tenant is delinquent in rent since August. Most units have fire places, porch/balcony, dining areas and room for in-unit washer dryers, ready for an opportunistic investor to implement a luxury remodel and value add investment strategy. The location attracts ideal tenants seeking close proximity to tech companies, boutique & luxury shopping, world class beaches, award winning restaurants and a walkable, healthy, fun, lifestyle that demands premium rents. The building is under Santa Monica rent control. Each unit offers spacious, efficient and bright floor plans including two, townhome units. This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify all the information and bears all risk for any inaccuracy.
Value-add asset w/ 6 large units = ±44% upside plus 2 units vacant