512 Ocean Park

    Santa Monica, CA 90405
    • $1,978,000
    • STATUS: Active
    • ON SITE: 131 days
    • ID#: 19463774
    UPDATED: 61 min ago
    $1,978,000
    • 0
      BEDS
    • 0.13
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 3,132
      SQFT
    • $632
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1962
    County:

    School Ratings & Info

    Description

    Prime Santa Monica location, steps aways to Main street and the beach (with 88% high walkable score) 5 unit building---includes (1) two bedroom one bath and (4) one bedroom one bath.Remodeling highlights include (in 2013) : new double-pane windows, refinished original hardwood floors, new wood cabinets, granite countertops, tiled bathrooms, all copper plumbing, new drainage to city line, new gutters and new exterior staircase with beautiful stone tile. Building has laundry room and 6 parking spaces in back. Street renovation was completed in early 2013, which features a "Complete Green Street" with wider sidewalks, brightly painted bike lanes, more than 100 new trees and landscaped medians. Property is priced at 17.4 GRM and 3.4% Cap, with potentially 22% upside in rent.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2019-09-18T08:39:24.233. 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 or Heller The Home Seller | Keller Williams Realty. Licensed in the State of California, USA.
    www.hellerthehomeseller.com/homes/94573709

    512 Ocean Park Santa Monica, CA 90405

    • Price: $1,978,000
    • Status: Active
    • Updated: 61 min ago
    • ID#: 19463774
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.13
    Acres
    3,132
    SQFT
    $632
    $/SQFT
    1962
    Built
    Neighborhood:
    C14 - Santa Monica
    County:
    Los Angeles
    Area:
    C14 - Santa Monica
    Property Description
    Prime Santa Monica location, steps aways to Main street and the beach (with 88% high walkable score) 5 unit building---includes (1) two bedroom one bath and (4) one bedroom one bath.Remodeling highlights include (in 2013) : new double-pane windows, refinished original hardwood floors, new wood cabinets, granite countertops, tiled bathrooms, all copper plumbing, new drainage to city line, new gutters and new exterior staircase with beautiful stone tile. Building has laundry room and 6 parking spaces in back. Street renovation was completed in early 2013, which features a "Complete Green Street" with wider sidewalks, brightly painted bike lanes, more than 100 new trees and landscaped medians. Property is priced at 17.4 GRM and 3.4% Cap, with potentially 22% upside in rent.
    Exterior Features

    Carport Spaces 6.00 Lot Size Source Assessor Lot Size Units Square Feet Parking Features Parking Space Parking Total 6.00 Parking YN Yes

    Interior Features

    Cooling See Remarks Cooling YN Yes Laundry Features See Remarks

    Property Features

    Cap Rate 3.40 Electric Expense 532.00 Fuel Expense 999.00 Gross Income 9581.00 Gross Multiplier 17.50 Gross Operating Income 114192.00 Gross Scheduled Income 114200.00 Improvements Amount 316873 Insurance Expense 1700.00 Land Value 950620 Laundry Income 781.00 Laundry YN Yes Licenses Expense 137.00 Maintenance Expense 5000.00 Net Operating Income 67300.00 Professional Management Expense 4568.00 Security Expense 9434.00 Special Listing Conditions Standard Total Actual Rent 114200.00 Total Expenses 44255.00 Vacancy Allowance Rate 3.00 Water Sewer Expense 4545.00 Zoning Smop2*

    Listing provided courtesy of Clara Yang of Sotheby's International Realty


    Based on information from California Regional Multiple Listing Service, Inc. as of 2019-09-18T08:39:24.233. 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 or Heller The Home Seller | Keller Williams Realty. Licensed in the State of California, USA.
     
    Heller The Home Seller | Keller Williams Realty
    171 Saxony Road, Ste. 205
    Encinitas CA, 92024