Price Reduction
Address
1415 Centinela Avenue Santa Monica, CA
Price
$ 2,495,000
Property Attributes
- MLS#20658892
- TypeIncome
- CountyLOS ANGELES
- CitySanta Monica
- AreaSanta Monica
- Zip90404
- Style
- Price$ 2,495,000
- Bedrooms0
- Full Bathrooms0
- Half Bathrooms0
- Sqr Footage3904
- Lot Size7,405 SqFt
Listing Provided Courtesy Of:
Ardy Ishal with BRC Advisors- BH.
Property Description
BRC Advisors -BH is proud to present for sale this value-add five-unit apartment property located at 1415 South Centinela Avenue, in Santa Monica, California. The property consists of three separate structures on one lot, consisting of an attractive unit mix with four (4) three-bedroom/two-bathroom units and a one-bedroom/one-bathroom unit. Situated on a 7,564 square foot lot, the property is located just south of Santa Monica Blvd. Three of the units have washer/dryers (see rent roll) and three units are currently vacant, allowing a buyer to immediately implement a renovation plan of those units and exterior areas to obtain maximum rents. Additionally, there are approximately seven onsite parking spaces and the units have separate water heaters, some of which are tankless. Upon renovating and renting the three vacant 3-bedroom units at the projected market rent of $3,795, a buyer will achieve a projected cap rate of 5.28% and a gross rent multiplier of only 13.0x!!!
| Price History | |
|---|---|
| 11/20/2020 | Listed $2,600,000 |
| 1/14/2021 | 5% - $2,495,000 |
General Features
| Directions | just south of Santa Monica Blvd. |
|---|---|
| Listagentaor | Beverly Hills/Greater LA |
| Listing Agent | Ardy Ishal - BRE#01769601 |
| Listing Agent State License | 01769601 |
| MLS Area | C14 - Santa Monica |
| Price Per Square Foot | 639.09 |
| Source System | CRMLS |
| Special Listing Conditions | Standard |
| Total Units | 5 |
| Zoning | SMR2* |
Exterior Features
| Building Area Total | 3904.00 |
|---|---|
| Lot Size Acres | 0.1700 |
| Lot Size Area | 7564.0000 |
| Lot Size Square Feet | 7564.00 |
| Lot Size Units | Square Feet |
| Number of Buildings | 3 |
Amenities
- Foreclosure
- Views
- Short Sale
- New Construction
- Adult 55+
- Lease To Own
- No HOA Fees
- Furnished
- Master On Main
- Air Conditioning
- Seller Finance
- Green
- Fixer Upper
- Horse
- Golf
- Fireplace
- Deck
- Garage
- Basement
- Pool
Property vs Zip Code Average in 90404
Price
Visits
Year Built
Walkscore
Based on information from California Regional Multiple Listing Service, Inc. as of January 19, 2021 12:05 PM UTC 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 usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.
