858-860 3rd St
Santa Monica, CA 90403
PRICE REDUCED by $1.25MM | 28U,3 Blk to Beach · Multifamily Property For Sale · 28 Units

PRICE REDUCED by $1.25MM! | $473K per Unit | This Won't Last Long! PROPERTY WEBSITE: SantaMonica28.BerkadiaREA.com 858-860 3rd Street is a 28-unit garden style apartment community located in Santa Monica, one of the most desirable coastal communities in Southern California. The property's prime location is within blocks to the beach and is walking distance of the shops, restaurants, and entertainment of the Third Street Promenade, Montana Avenue and Ocean Avenue. Built in 1954, the property sits on a 22,527+/- SF (over one-half acre) corner lot and is comprised of two 14-unit buildings for a total of 28 units. The property features a unit mix of spacious 14 - one bedroom, one bath and 14 – two bedroom, one bath units. Some of the units have been upgraded with new kitchen cabinets, marble/quartz countertops, glass back splash, and stainless-steel appliances, new flooring throughout and air conditioning. Soft-story reinforcement completed; no work needed. 858-860 3rd Street is situated in an incredible Santa Monica location, just three blocks to the area's 3.5 mile stretch of beautiful Pacific coastline. Situated just south of the 3rd Street and Montana Avenue intersection, the property is walking distance to the boutiques and dining along Montana Avenue, as well as a plethora of shopping, dining and entertainment options at Third Street Promenade and the Santa Monica Mall. The property is conveniently located near the Santa Monica Expo Line Station, as well as the interstate 10, with easy access to interstate 405. Strong area demographics: $84,431 average household income within one-quarter mile of the subject property (Source: STI PopStats); $2,205,138 average home value within one mile of the subject property (Source: STI PopStats).