2620 11th St
Santa Monica, CA 90405
Multifamily Property For Sale
·
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
We are pleased to present "Live on 11th", a 16 Unit, single story, bungalow style complex, located at 2620 11th St, in Ocean Park, Santa Monica, one of the highest demand rental markets in the country & just 10 blocks to the beach! The property is situated on a 17k+ SF lot, was built in 1947, features 11 Garages, 5 additional parking spaces, 5 storage lockers and a communal laundry room. The unit mix consists of 16 One-Bedroom/One-Bathroom units. Of the 16 units, 10 units were renovated with new floors, paint, Stainless Steel appliances and light fixtures. They are renting for $921 - $3,250/month! One additional unit is vacant and un- renovated. An investor may acquire this trophy asset at a 5.61% Year-One Cap Rate, and capitalize on the remaining +/- 28.4% upside with rents at market, AND further increase the rents by adding in-unit laundry, A/C, recessed lights and by creating open floor plans.
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 16 | - | - |
Property Taxes
| Parcel Number | 4285-001-023 | Improvements Assessment | $568,913 |
| Land Assessment | $5,347,795 | Total Assessment | $5,916,708 |
Property Taxes
