1045 Ocean Ave | Santa Monica, CA 90403
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- LoopNet Team
1045 Ocean Ave
Santa Monica, CA 90403
20 units - 45% vacant - Ocean view apartments · Multifamily Property For Sale
·
20 Units
INVESTMENT HIGHLIGHTS
- OCEAN AVENUE location in Santa Monica; Considered as one of the best locations for an apartment in Southern California!
- Walking distance to Santa Monica state beach, Santa Monica Pier, Downtown Santa Monica Third Street Promenade, Downtown Santa Monica Metrolink light
- Several units have ocean view, private deck area; 6 garage parking in the back
- NINE (9) out of twenty (20) units will be delivered vacant at close of escrow; 45% vacancy delivered!
- Favorable unit mix for a rent control area; R3 zoning, surrounded by properties of much higher density
- Significant rental upside potential! High Proforma CAP Rate; Strong demographics of ±$143,040 average household income
PROPERTY FACTS
| No. Units | 20 | Building Size | 15,005 SF |
| Property Type | Multifamily | Average Occupancy | 55% |
| Property Subtype | Apartment | No. Stories | 3 |
| Apartment Style | Low-Rise | Year Built | 1922 |
| Building Class | C | Parking Ratio | 0.4/1,000 SF |
| Lot Size | 0.26 AC | ||
| Zoning | R3 | ||
| No. Units | 20 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.26 AC |
| Building Size | 15,005 SF |
| Average Occupancy | 55% |
| No. Stories | 3 |
| Year Built | 1922 |
| Parking Ratio | 0.4/1,000 SF |
| Zoning | R3 |
AMENITIES
UNIT AMENITIES
- Views
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 7 | - | - |
| 1+1 | 8 | - | - |
| 2+1 | 4 | - | - |
| 2+2 | 1 | - | - |
PROPERTY TAXES
| Parcel Number | 4292-027-011 | Improvements Assessment | $1,740,877 |
| Land Assessment | $13,927,031 | Total Assessment | $15,667,908 |
PROPERTY TAXES
Parcel Number
4292-027-011
Land Assessment
$13,927,031
Improvements Assessment
$1,740,877
Total Assessment
$15,667,908
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