1336 Franklin Street, Santa Monica, CA 90404 (MLS # 23317837)
1336 Franklin Street is a six (6) unit investment asset in Prime Santa Monica. The property consists of four (4) 2BD/1BA units and two (2) 1 BD/1BA units. Onsite laundry facilities and eight (8) storage spaces provide additional income. Three (3) garages offer the potential for ADU conversion. The property is ideally located in the center of highly desirable Santa Monica. A plethora of world class entertainment, media and technology companies are located within just a one-mile radius, including Hulu, Riot Games, Snapchat and Oracle. EXTREMELY WALKABLE LOCATION. With a Walk Score of 92, the property provides easy, walkable access to all amenities for daily errands and Water Gardens. The building is just blocks from Whole Foods Market, coffee shops, world class restaurants, retail and outdoor recreation areas. WELL-PRICED OWNER/USER OPPORTUNITY. Priced at 4.5% cap rate and 14.6 GRM on current income, this property provides a new buyer with an excellent value-add opportunity for future rent growth and appreciation. INVESTMENT HIGHLIGHTS. Prime Santa Monica Location (4) 2BD/1BA Units and (2) 1BD/1BA Units with On-Site Laundry, Storage and (4) Garages with (3) Units Delivered Vacant and 4.5% Cap Rate with Current Income Priced at Only 14.6 x Gross.
Property Type(s):
Residential Income
|
Last Updated
|
10/13/2023
|
Year Built
|
1939
|
|
Community
|
Santa Monica
|
County
|
Los Angeles
|
Additional Details
| AREA |
Santa Monica |
| BUYER'S BROKERAGE COMPENSATION |
2.000 % |
| GARAGE |
Uncovered |
| HEAT |
Wall Furnace |
| LOT |
7890 sq ft |
| PARKING |
Uncovered |
| STORIES |
2 |
| ZONING |
SMR2* |
Location
Listed with KW Advisors
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Based on information from California Regional Multiple Listing Service, Inc. as of 4/29/24 12:22 AM PDT and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information
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