CA $1595000 - Santa Monica House with Yard and 4 Seperate Income Units
Rare opportunity in Santa Monica to own a property with a Spanish Revival style house in the front and a completely detached and separate 4 unit apartment building in the rear. This is a great location on a quiet street close to the beaches, restaurants, shopping and freeway acess. The charming house (Built in 1924) is approximately 1,177 square feet with 2 bedrooms, 1.5 bathrooms, wood floors, fireplace, new interior/exterior paint, off-street parking and a separate garage/storage building. There is also a new large redwood deck for entertaining, new landscaping, driveway and plenty of room in the back yard to create your own personalized oasis. The house will be delivered vacant and can either moved into or rented out at market rent.
The rear units are all one bedroom apartments fenced off from the front house. They are all approximately 550 square feet and each has its their own parking with a gated entrance from the back alley.
House $2,700-$3,400 (Delivered vacant - scheduled market rent)
Apt A $1,500-$1,700 (Delivered vacant - scheduled market rent)
Apt B $1,103 (Occupied - actual rent starting Sept. 1)
Apt C $1,482 (Occupied - actual rent starting Sept. 1)
Apt D $ 631 (Occupied - actual rent starting Sept. 1)
With maximum scheduled rents and the extra parking space rented ($100) it is possible for this property to bring in slightly over $100k in gross annual income.
The lot is 7,497 square feet and zoned R2. Possible to build 5 condo/townhomes (check with city).
Owners are CA licenced agent and broker. Call Lester Winograde (310)226-6864 or Gary Rifat (310)452-2821 /(310)664-0896 for more information and/or an appointment to view the property.
1818 10th Street at PiCO
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