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2338 Ocean Park Blvd 21 Unit Apartment Building $4,000,000 ($190,476/Unit) Santa Monica, CA 90405
INVESTMENT HIGHLIGHTS
- First Time on the Market in Over 35 Years
- Vacant 21-Key Motel with Parking
- Double Lot | Zoned R3 Development Site on Ocean Park Blvd
- Must Sell – Submit All Offers
EXECUTIVE SUMMARY
Built in 1947, 2338 Ocean Park Blvd consists of a ±3,700 SF structure situated on a combined ±13,976 SF site, comprised of two contiguous parcels—including a ±6,995 SF main lot and a separate ±6,981 SF dedicated parking lot. Located in the heart of Santa Monica, the property presents a compelling redevelopment opportunity zoned R3. The site is currently improved with a fully vacant 21-room motel, allowing a developer to pursue entitlements immediately without tenant relocation, buyouts, or operational delays. With the potential application of density bonus provisions, the site may support up to 23 residential units (buyer to verify). The property benefits from excellent visibility near a signalized intersection and strong traffic counts, enhancing its appeal for future development.
PROPERTY FACTS
| Price | $4,000,000 | Building Class | C |
| Price Per Unit | $190,476 | Lot Size | 0.16 AC |
| Sale Type | Investment | Building Size | 13,800 SF |
| No. Units | 21 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1947 |
| Property Subtype | Apartment | Parking Ratio | 2.1/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | SMR3* - Restricted Density Multiple Dwelling One-Family Dwellings, Two-Family Dwellings, Apartment Houses, Multiple Dwellings, Home Occupations | ||
| Price | $4,000,000 |
| Price Per Unit | $190,476 |
| Sale Type | Investment |
| No. Units | 21 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.16 AC |
| Building Size | 13,800 SF |
| No. Stories | 2 |
| Year Built | 1947 |
| Parking Ratio | 2.1/1,000 SF |
| Zoning | SMR3* - Restricted Density Multiple Dwelling One-Family Dwellings, Two-Family Dwellings, Apartment Houses, Multiple Dwellings, Home Occupations |
AMENITIES
UNIT AMENITIES
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
SITE AMENITIES
- 24 Hour Access
- Controlled Access
- Tenant Controlled HVAC
- Trash Pickup - Curbside
- Public Transportation
- Smoke Detector
1 1
Walk Score®
Very Walkable (81)
Bike Score®
Biker's Paradise (95)
PROPERTY TAXES
| Parcel Number | 4272-022-008 | Improvements Assessment | $223,647 |
| Land Assessment | $539,302 | Total Assessment | $762,949 |
PROPERTY TAXES
Parcel Number
4272-022-008
Land Assessment
$539,302
Improvements Assessment
$223,647
Total Assessment
$762,949
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2338 Ocean Park Blvd
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