2427 4th Street
Santa Monica, CA 90405 ·
30 Units · Multifamily For Sale
The Sandpiper Apartments
|Price||N/A||Property Use Type||Vacant/Owner-User|
|No. Units||30||Cap Rate||7.90%|
|Building Size||21,446 SF||Gross Rent Multiplier||9.46|
|Property Type||Multifamily||Year Built||1963|
|Property Sub-type||Mid/High-Rise||Lot Size||0.59 AC|
|Listing ID: 7424249||Date Created: 01/10/2001||Last Updated: 09/28/2001|
Building Features: (recent upgrades indicated by *) Secured Parking* Security Gates* Swimming Pool Exterior Painting* Complete Work-Out Facility* Landscaping* 2 Large Laundry Rooms New Façades* Balconies Tiled Patios and Walkways* Seismic Upgrade* Unit Upgrades: (all work done in the last 12 months/ 26 of 30 units) New Interior and Exterior Doors & Hardware Carpet Dishwasher / Garbage Disposal Paint Ceramic Tile Countertops Door Bells Vertical Blinds Hoods & Stoves Thermostats Refrigerator Kitchen and Bath Linoleum Floors Plumbing Fixtures Light Fixtures Mirrored Wardrobes Washer / Dryer Toilets Pedestal Bathroom Sinks Medicine Cabinets
The Sandpiper Apartments are situated north of Ocean Park Boulevard just four blocks from the Pacific Ocean. Two blocks west of The Sandpiper is Main Street with it's many specialized retail stores and boutiques, café's and gourmet restaurants as well as contemporary art galleries. There are also many regional architectural landmarks including the 1894 Queen Anne style Heritage Museum to Frank Gehry's 1988 Edgemar complex. Wednesdays and Saturdays also provide one of Los Angeles' best Farmer's Markets. This pride of ownership property consists of thirty units surrounding beautiful landscaped courtyards. The property extends from 4th Street to 5th Street. All units have been remodeled (see detailed list below), with the exception of three, in which the tenants have elected not to relocate at this time. The Sandpiper has a consistent history of 100% occupancy because of its prime location and is a perfect property for a Buyer's 1031 Exchange.
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