2620 11th St
Santa Monica, CA 90405
10 of 16 UNITS DELIVERED VACANT! 5.4% CAP! · Multifamily Property For Sale
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16 Units
Property Facts
| No. Units | 16 | Building Size | 8,084 SF |
| Property Type | Multifamily | Average Occupancy | 93% |
| Property Subtype | Apartment | No. Stories | 1 |
| Apartment Style | Low-Rise | Year Built | 1947 |
| Building Class | B | Parking Ratio | 1.98/1,000 SF |
| Lot Size | 0.39 AC | ||
| Zoning | SMR2* | ||
| No. Units | 16 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 0.39 AC |
| Building Size | 8,084 SF |
| Average Occupancy | 93% |
| No. Stories | 1 |
| Year Built | 1947 |
| Parking Ratio | 1.98/1,000 SF |
| Zoning | SMR2* |
Amenities
Unit Amenities
- Kitchen
- Refrigerator
- Oven
- Sprinkler System
- Tub/Shower
Site Amenities
- Smoke Detector
About 2620 11TH ST , SANTA MONICA, CA 90405
Central Realty Advisors is excited to present this 16-Unit apartment building, (with 10 units being delivered VACANT) The Village at 2620 11th Street, conveniently located in the coveted Ocean Park neighborhood of Santa Monica, one of the highest-demand apartment rental markets in the country. The property was built in 1947, featuring ample parking garages & storage lockers. There are 11 one car garages, 5 reserved parking spaces and 5 large storage lockers offering significant additional income. The building is priced at an attractive 5.4% cap rate (once the vacancies are renovated and leased). Additionally, the property features +/-21% rental upside upon unit turnover. This property appeals to savvy investors as well as collectors of trophy assets. The property is walking distance to Gelson's on Lincoln, as well as a number of popular restaurants including Shaka Shack Burgers, Sunny Blue, Library Ale House and Herringbone. Santa Monica's world famous beaches are a mere 10 minute bike ride away as well as one of it's most popular shopping destinations, The 3rd Street Promenade.
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 16 | $1,234 | 505 |
Property Taxes
| Parcel Number | 4285-001-023 | Improvements Assessment | $568,913 |
| Land Assessment | $5,347,795 | Total Assessment | $5,916,708 |
Property Taxes
