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Listing Details

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School Ratings & Info

Description

Playa Apartments is a value-add multifamily investment opportunity located in the desirable beachside community of Santa Monica. This asset presents an ideal income property for an investor in search of acquiring a well-positioned property with the potential of adding value through capital improvements and increasing rents over time.This charming apartment building is comprised of 8 units in one two-story building that was constructed in 1957. There are (5) parking spaces at the rear of the property and an on-site laundry room. This well-located building totals 3,740 square feet and is constructed of wood frame with pitched roof and painted stucco exterior. Lot size is 5,897 square feet and zoning is SMOP2*. The unit mix is comprised of (4) 1 bedroom + 1 bath units and (4) single + 1 bath units. Select units have recently undergone substantial renovation. Currently the property is being operated as a master metered building, though individual meters have been installed at the building, they have yet to be connected. 638 Grant Street is located in Santa Monica, California. Santa Monica is one of the most desirable beach community locations in Southern California and Los Angeles. Located on the 600 block of Grant Street, the property is situated a few blocks from the beach, between Lincoln Blvd & 6th St., just south of Pico Blvd.

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Based on information from California Regional Multiple Listing Service, Inc. as of 2021-09-19T12:27:52.31. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or The Kohler Group | Zutila. Licensed in the State of California, USA.
www.buysocal.homes/homes/114775128
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638 Grant Street Santa Monica, CA 90405

  • Price: $3,100,000
  • Status: Active
  • Updated: 27 min ago
  • ID#: SR21045492
0
Beds
0
Baths
0
½ Baths
0.14
Acres
3,740
SQFT
$829
$/SQFT
1957
Built
Neighborhood:
C14 - Santa Monica
County:
Los Angeles
Area:
C14 - Santa Monica
Property Description
Playa Apartments is a value-add multifamily investment opportunity located in the desirable beachside community of Santa Monica. This asset presents an ideal income property for an investor in search of acquiring a well-positioned property with the potential of adding value through capital improvements and increasing rents over time.This charming apartment building is comprised of 8 units in one two-story building that was constructed in 1957. There are (5) parking spaces at the rear of the property and an on-site laundry room. This well-located building totals 3,740 square feet and is constructed of wood frame with pitched roof and painted stucco exterior. Lot size is 5,897 square feet and zoning is SMOP2*. The unit mix is comprised of (4) 1 bedroom + 1 bath units and (4) single + 1 bath units. Select units have recently undergone substantial renovation. Currently the property is being operated as a master metered building, though individual meters have been installed at the building, they have yet to be connected. 638 Grant Street is located in Santa Monica, California. Santa Monica is one of the most desirable beach community locations in Southern California and Los Angeles. Located on the 600 block of Grant Street, the property is situated a few blocks from the beach, between Lincoln Blvd & 6th St., just south of Pico Blvd.
Exterior Features

Lot Features 6-10 Units/Acre Number Of Separate Electric Meters 4 Parking Total 5 Pool Features None Pool Private YN No Property Attached YN Yes

Interior Features

Common Walls 2+ Common Walls Cooling Wall/Window Unit(S) Cooling YN Yes Fireplace Features None Fireplace YN No

Property Features

Additional Parcels YN No Common Interest None Community Features BikingDog ParkHikingWater Sports Electric Expense 0 Fuel Expense 0 Garage YN No Gross Income 169512 Gross Scheduled Income 169512 Insurance Expense 1870 Land Lease YN No Laundry Features See Remarks Listing Agreement Exclusive Right To Sell Listing Service Full Service Listing Terms CashCash To New LoanConventionalContractSubmit Net Operating Income 107827 New Construction YN No New Taxes Expense 38750 Number Of Separate Gas Meters 4 Number Of Separate Water Meters 0 Operating Expense 56600 Other Expense 1600 Rent Control YN Yes Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Trash Expense 1500 Utilities Electricity AvailableSee RemarksWater Available Water Sewer Expense 0 Water Source Public

Listing provided courtesy of Raymond Rodriguez of Keller Williams Realty Calabasas


Based on information from California Regional Multiple Listing Service, Inc. as of 2021-09-19T12:27:52.31. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or The Kohler Group | Zutila. Licensed in the State of California, USA.
 
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The Kohler Group | Zutila
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Irvine CA, 92604