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241 Marine St
Santa Monica, CA 90405
Multifamily Property For Sale
·
10 Units
Investment Highlights
- THE OPPORTUNITY: 241 Marine Street is a 10-unit value-add property located in Ocean Park, a prime Santa Monica Location.
- THE LOCATION: The subject property boasts a 93 Walk Score and 91 Bike Score.
- VALUE-ADD POTENTIAL: In-Place Rents at 241 Marine reflect a ~32% Loss-to-Lease from direct competing rents in the area.
- PREMIER DINING AND RETAIL: The subject property is steps away from Abbott Kinney, Rose Ave, and Main Street.
Property Facts
| No. Units | 10 | Lot Size | 0.15 AC |
| Property Type | Multifamily | Building Size | 5,232 SF |
| Property Subtype | Apartment | Average Occupancy | 100% |
| Apartment Style | Low-Rise | No. Stories | 3 |
| Building Class | B | Year Built | 1903 |
| Zoning | SMOP2* - Ocean Park Low Density Residential | ||
| No. Units | 10 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 0.15 AC |
| Building Size | 5,232 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built | 1903 |
| Zoning | SMOP2* - Ocean Park Low Density Residential |
Amenities
Unit Amenities
- Balcony
- Heating
- Views
- Yard
Site Amenities
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 1 | $4,500 | 800 |
| 2+2 | 1 | $4,600 | 900 |
| 1+1 | 5 | $1,468 | 475 |
| Studios | 3 | $1,551 | 375 |
Property Taxes
| Parcel Number | 4287-024-013 | Improvements Assessment | $1,461,987 |
| Land Assessment | $3,409,334 | Total Assessment | $4,871,321 |
Property Taxes
Parcel Number
4287-024-013
Land Assessment
$3,409,334
Improvements Assessment
$1,461,987
Total Assessment
$4,871,321
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