UPDATED:
10/21/2024 09:05 PM
Key Details
Property Type Multi-Family
Sub Type Triplex
Listing Status Active
Purchase Type For Sale
Square Footage 3,802 sqft
Price per Sqft $761
MLS Listing ID SR24189485
HOA Y/N No
Year Built 1988
Lot Size 4,839 Sqft
Property Description
*The property is not subject to Santa Monica Rent Control, allowing for 5% + CPI annual rent increases per AB 1482, was originally built in 1920 and in 1988, the construction of (2) detached apartment units and workshop was completed. Over the course of the last few years, the property has undergone extensive renovation to both the main home, as well as the apartment units.
This wonderful opportunity encompasses an impressive 3,802 sq ft. building and consists of a 4 Bedroom + 3 Bath Two-Story Single-Family Home with a private 106 sq ft. 3rd-floor rooftop terrace, as well as (2) detached 2-Bedroom apartment units averaging 895 sq ft. in a 3-story structure with the 4th floor consisting of a massive 628 sq ft. sundeck and lounge with partial views of the Pacific Ocean and surrounding city. *In addition, there’s a 1st floor, non-conforming studio unit that could be used as an office or potentially converted into a legal apartment unit.
Each of these fantastic units is individually metered for gas and electricity, and offers individual hot water heaters, further lowering utility costs, as well as an on-site laundry facility for tenants.
Though certain upgrades have been made, there is still a considerable amount of value to add to this incredible property, as well as a tremendous amount of rental income that has yet to be unlocked, making The Seaside an incredible opportunity.
(1) Four-Bedroom + Three-Bath House – 1,708 sq ft.
(1) Two-Bedroom + Two-Bath – 895 sq ft.
(1) Two-Bedroom + One-Bath – 895 sq ft.
(1) Studio + One-Bath (*Non-Conforming Unit) – 306 sq ft.
Santa Monica’s real estate market is characterized by high demand and limited supply, resulting in property values that are among the highest in the region.
*Buyer to Verify with the City of Santa Monica
**All material presented herein is intended for discussion purposes only. It is the sole responsibility of the Buyer to conduct their own due diligence as to the accuracy of the information contained herein and the Seller nor their agents make any warranties expressed or implied
Location
State CA
County Los Angeles
Area C14 - Santa Monica
Zoning SMOP2*
Rooms
Ensuite Laundry Common Area
Interior
Laundry Location Common Area
Fireplace No
Laundry Common Area
Exterior
Garage On Site
Garage Spaces 4.0
Garage Description 4.0
Pool None
Community Features Biking, Water Sports
Parking Type On Site
Total Parking Spaces 4
Private Pool No
Building
Lot Description Garden
Story 4
Sewer Public Sewer
Water Public
New Construction No
Others
Senior Community No
Tax ID 4287037029
Acceptable Financing Cash, Cash to New Loan, Conventional, Contract
Listing Terms Cash, Cash to New Loan, Conventional, Contract
Special Listing Condition Standard
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