EXECUTIVE SUMMARY
The Growth Investment Group is proud to present 1045 Ocean Ave, Santa Monica. Steps from the beach in Santa Monica and walking distance to some of the best amenities in Santa Monica (world-famous Santa Monica Beach, Santa Monica Pier, Santa Monica Third Street Promenade, etc.), 1045 Ocean Avenue offers investor a once-in-a-lifetime opportunity to own an apartment asset in a truly irreplaceable location that could be considered as one of the best location in Southern California.
1045 Ocean Ave is a 21-units apartment in Downtown Santa Monica. It is located on Ocean Ave between California Ave and Washington Ave. It is located a block away from Third Street Promenade on Wilshire Blvd, across the street from Palisades Park that offers unobstructed ocean view of Pacific Ocean, Santa Monica Beach, Santa Monica Pier and Southern California coastline. It is within walking distance to all the best amenities Santa Monica has to offer, including Metrolink light-rail station on Colorado Ave. It has a strong demographics of $143,000 average household income within a 3-mile radius and has superb access to FWY 10 and CA-1N (Pacific Coast Highway) is a street away.
The property is a 2-1/2 story apartment that was built in 1922. It has a total of ±15,005 square feet building size (per profile) and situated on a ±11,260 square feet R3 lot. It is surrounded by much higher density residential properties on its left and right. Unit mix consists of four (4) 2bedroom+1bathroom, eight (8) 1bedroom+1bathroom, eight (8) studio, and one (1) penthouse-1bedroom+1bathroom. The property is master metered for electricity, gas and water. It is under Santa Monica Rent Stabilization Ordinance (rent control). It has a shared laundry room. Several units have been upgraded and one unit can be delivered vacant at close of escrow. Parking is provided by 6 garage parking in the back (alley access).
LOCATION, ACCESS AND AMENTITIES
Santa Monica is home to a diverse group of people with an eclectic and energized vibe. The location is a Perfect Paradise located near every desire and convenience. Tenants can enjoy an active California lifestyle in the infinite outdoor and indoor activity opportunities. Palisades Park and the white sandy beach are among the play grounds afforded residents. World-famous Santa Monica pier and Third Street Promenade are on within walking distance, complete with unique entertainment options, dining and shopping (http://www.downtownsm.com/business-directory ).
When it comes to food and entertainment, this location offers some of the best in Southern California. Some of the well-known local dining in the area are Ox and Son, Tar and Roses, Chinois on Main, Chaya Venice, Sushi Roku, Via Veneto, Cassia, and much more!
