2508 3rd Street

    Santa Monica, CA 90405
    • $3,699,000
    • STATUS: Pending
    • ON SITE: 20 days
    • ID#: SB19126274
    Pending
    UPDATED: 114 min ago
    $3,699,000
    • 0
      BEDS
    • 0.15
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 6,512
      SQFT
    • $568
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1965
    County:

    School Ratings & Info

    Description

    2508 3rd St is an 8-unit apartment building located in the desirable Ocean Park neighborhood of Santa Monica, CA - only four blocks to the beach between Ocean Park Blvd and Mills St in the heart of Silicon Beach. This 6,512 SF building is situated on a 6,497 SF OP-2 lot (according to assessor's records - has not been verified). This well-maintained property had seismic retrofit work done in 1997 and does not currently appear on the Santa Monica Seismic Retrofit Map. The units are separately metered for gas & electric, and the building features on-site laundry, on-site office storage area, and eight parking spaces available to tenants. There are also bike racks, a communal rooftop deck with ocean views, and additional permitted street parking for residents who apply through the city.2508 3rd St also offers a desirable unit mix of four 2-bed/2-bath units and four 1-bed/1-bath units. All the units offer stoves, dishwashers, wall heaters, and high-end rust resistant premium security doors. Rear units also have balconies and select units offer updated kitchens with solid surface countertops. Boasting a walk-score of 94 (CoStar), this property is situated in an unbeatable location only two blocks to Main Street where the Sunday Farmer's Market is held. Tenants can also enjoy the close proximity to the Santa Monica Pier, the convenience of the downtown metro station, and the 3rd Street Promenade with its upscale shopping, dining, and entertainment.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2019-06-25T00:36:54.86. 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 deemed reliable but is not guaranteed accurate by the MLS. Licensed in the State of California, USA.
    www.hellerthehomeseller.com/homes/95538095

    2508 3rd Street Santa Monica, CA 90405

    • Price: $3,699,000
    • Status: Pending
    • Updated: 114 min ago
    • ID#: SB19126274
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.15
    Acres
    6,512
    SQFT
    $568
    $/SQFT
    1965
    Built
    Neighborhood:
    C14 - Santa Monica
    County:
    Los Angeles
    Area:
    C14 - Santa Monica
    Property Description
    2508 3rd St is an 8-unit apartment building located in the desirable Ocean Park neighborhood of Santa Monica, CA - only four blocks to the beach between Ocean Park Blvd and Mills St in the heart of Silicon Beach. This 6,512 SF building is situated on a 6,497 SF OP-2 lot (according to assessor's records - has not been verified). This well-maintained property had seismic retrofit work done in 1997 and does not currently appear on the Santa Monica Seismic Retrofit Map. The units are separately metered for gas & electric, and the building features on-site laundry, on-site office storage area, and eight parking spaces available to tenants. There are also bike racks, a communal rooftop deck with ocean views, and additional permitted street parking for residents who apply through the city.2508 3rd St also offers a desirable unit mix of four 2-bed/2-bath units and four 1-bed/1-bath units. All the units offer stoves, dishwashers, wall heaters, and high-end rust resistant premium security doors. Rear units also have balconies and select units offer updated kitchens with solid surface countertops. Boasting a walk-score of 94 (CoStar), this property is situated in an unbeatable location only two blocks to Main Street where the Sunday Farmer's Market is held. Tenants can also enjoy the close proximity to the Santa Monica Pier, the convenience of the downtown metro station, and the 3rd Street Promenade with its upscale shopping, dining, and entertainment.
    Exterior Features

    Architectural Style Mid Century Modern Carport Spaces 3.00 Construction Materials ConcreteDrywall WallsFramePlasterStucco Direction Faces East Exterior Features Awning(S)LightingRain Gutters Fence YN Yes Fencing BlockFair ConditionStucco Wall Foundation Details Concrete Perimeter Garage Spaces 0.00 Lot Features Front YardLandscapedYard Lot Size Dimensions 50 X 130 Lot Size Source Assessor Lot Size Units Square Feet Parking Features CarportUncovered Parking Total 8.00 Parking YN Yes Pool Features None Pool Private YN No Property Attached YN Yes Road Surface Type Paved Roof Flat Spa Features None Spa YN No View CoastlineOceanPanoramic View YN Yes

    Interior Features

    Appliances DishwasherElectric RangeFree-Standing RangeDisposalGas RangeGas Water HeaterMicrowaveRange HoodRefrigeratorSelf Cleaning OvenVented Exhaust FanWater Heater Central Appliances YN Yes Average Studio Area Units Square Feet Average1 Bed Area Units Square Feet Average2 Bed Area Units Square Feet Average3 Bed Area Units Square Feet Common Walls 2+ Common Walls Cooling None Cooling YN No Door Features Mirror Closet Door(S)Panel DoorsSliding Doors Fireplace Features None Fireplace YN No Flooring CarpetLaminateTileVinyl Heating Wall Furnace Heating YN Yes Interior Features 2 StaircasesBalconyBlock WallsBuilt-In FeaturesCeiling Fan(S)Ceramic CountersCopper Plumbing PartialStorageTile CountersUnfurnished Laundry Features Individual Room Levels Two Room Type KitchenLaundryLiving Room Window Features BlindsScreens

    Property Features

    Accessibility Features OtherParking Additional Parcels YN No Building Area Units Square Feet Cap Rate 3.75 Community Features CurbsSidewalks Country Us Electric Standard Electric Expense 675.00 Elevation 2 Elevation Units Feet Fuel Expense 1264.00 Garage Income 0.00 Garage Rental Rate 0.00 Gardener Expense 1200.00 Gross Income 200856.00 Gross Multiplier 18.52 Gross Scheduled Income 199716.00 Gross Spendable Income 0.00 Insurance Expense 2605.00 Land Lease Amount 0.00 Land Lease YN No Laundry Equipment Own Lease Lease Laundry Income 1140.00 Laundry YN Yes Lot Dimensions Source Assessor Maintenance Expense 5991.00 Net Operating Income 138893.00 New Construction YN No New Taxes Expense 44455.00 Number Of Separate Electric Meters 8 Number Of Separate Gas Meters 9 Number Of Separate Water Meters 1 Operating Expense 61963.00 Other Expense 600.00 Other Expense Description Legal Other Income1 0.00 Other Income2 0.00 Pest Control Expense 1727.00 Present Loans 0 Professional Management Expense 0.00 Property Condition Turnkey Rent Control YN Yes Security Features Carbon Monoxide Detector(S)Security LightsSmoke Detector(S) Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Total Expenses 61963.00 Trash Expense 1808.00 Utilities Cable AvailableElectricity ConnectedPhone AvailableSewer ConnectedWater Available Vacancy Allowance 0 Vacancy Allowance Rate 0.00 Walk Score 94 Water Sewer Expense 1638.00 Water Source Public Year Built Source Assessor Zoning Smop2*

    Listing provided courtesy of Brett Lyon of Lyon Stahl Investment Real Estate, Inc. and J.Woody Stahl of


    Based on information from California Regional Multiple Listing Service, Inc. as of 2019-06-25T00:36:54.86. 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 deemed reliable but is not guaranteed accurate by the MLS. Licensed in the State of California, USA.
     
    Heller The Home Seller | Keller Williams Realty
    171 Saxony Road, Ste. 205
    Encinitas CA, 92024