1111 Lincoln Boulevard, Santa Monica, CA 90403 (MLS # 24378867)
This classic Mid-Centry Modern property in the Wilshire-Montana neighborhood is available for the 1st time in decades. It features 10 Huge Units averaging 1,000 SF each, and there is over 35% upside on rents. The unit mix is outstanding with (8) 2BR/2BA units, and (2) 1BR/1BA units. The low Price per SF for the area ($441) makes this property the best value North of Wilshire. The building front features a lovely facade with brick planters and wainscotting that creates visually stunning curb appeal. There is secure subterannian parking with automatic gate, controlled access, and on-site laundry so tenants will feel safe and secure. There is no seismic retrofit required. The building systems have recently been updated with new paint/stucco exterior, parking gates front & back, and a new re-circulation pump, expansion tank and sump pump. Some of the plumbing supply lines have been re-piped with copper, and there is new carpeting in the exterior stairwells. The roof was also recently repaired and coated with silicone sealant, and there are new gutters & downspouts. The location is spectacular! It is just a few blocks from Inspiration Point, Palisades Park, the renowned Saint Monica's Prep School and Church, the 3rd Street Promenade, and across the street from Emerson Park with tennis & basketball courts, etc. The family has lovingly maintained this charming property for over 50 years and is now ready to a set a place at the table for a new owner. Your investment in this Prime location will be lucrative with a property that will be cost-effective to operate and easy to maintain.
Property Type(s):
Residential Income
|
Last Updated
|
4/11/2024
|
Year Built
|
1968
|
|
Community
|
Santa Monica
|
County
|
Los Angeles
|
Additional Details
| AIR |
None |
| APPLIANCES |
Disposal |
| AREA |
Santa Monica |
| BUYER'S BROKERAGE COMPENSATION |
2.000 % |
| HEAT |
Wall Furnace |
| LOT |
7519 sq ft |
| STORIES |
2 |
| VIEW |
Yes |
| ZONING |
SMR2* |
Location
Listed with Lyon Stahl Investment Real Estate, Inc.
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 5/2/24 5:45 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
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