1019 6th Street, Santa Monica, CA 90403 (MLS # 23333461)
INCREDIBLE 5.11 CAP RATE WITH UPSIDE NORTH OF WILSHIRE!! We are pleased to offer for sale an incredible multifamily asset located at 1019 6th Street in the heart of LA's famed beach city of Santa Monica. Originally built in 1956, the building boasts an ideal unit mix consisting of all large 1 & 2-bedroom floor plans. Each of these units is spacious, has a terrific layout, and offers an abundance of natural light. Perfect for a long-term investor, the property has incredible rental upside, a secured intercom entrance, ample on-site parking (soft story retrofit has been completed), all copper plumbing, a newer roof, as well as an on-site laundry facility. The unit mix includes (7) 1-bed, 1-bath units and (2) 2-bed, 2-bath units. Many of the units have been luxuriously upgraded to the highest standards with hardwood flooring, custom window shutters, stainless steel appliances and quartz countertops, central HVAC (select units), recessed lighting, upgraded electrical, and an in-unit washer and dryer (select units). This is a fantastic trophy asset in an undeniably attractive location that will be a perfect addition to an investor's portfolio. A quick stroll to downtown Santa Monica, Montana Avenue, and the beach, this property is situated close to all Santa Monica has to offer. With incredible in-place income, enormous rental upside potential, and a secured tenant base, 1019 6th Street gives buyers the unique opportunity to own a generational asset in one of LA's most prized and coveted locations in Los Angeles.
Property Type(s):
Residential Income
|
Last Updated
|
4/17/2024
|
Year Built
|
1956
|
|
Community
|
Santa Monica
|
County
|
Los Angeles
|
Price History
|
Prior to Feb 6, '24
|
$4,600,000 |
|
Feb 6, '24 - Apr 17, '24 |
$4,550,000 |
| Apr 17, '24 - Today |
$4,450,000 |
Additional Details
| AIR |
Central Air |
| AIR CONDITIONING |
Yes |
| APPLIANCES |
Dishwasher, Disposal, Microwave, Refrigerator |
| AREA |
Santa Monica |
| BUYER'S BROKERAGE COMPENSATION |
2.000 % |
| GARAGE |
Assigned, Attached Carport, Covered, Yes |
| HEAT |
Central, Wall Furnace |
| LOT |
7496 sq ft |
| PARKING |
Attached Carport,Assigned,Covered |
| STORIES |
2 |
| ZONING |
SMR2* |
Location
Listed with Remax Commercial and Investment Realty
The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.
Based on information from California Regional Multiple Listing Service, Inc. as of 4/28/24 8:44 PM 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
This IDX solution is (c) Diverse Solutions 2024.
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