1537 Centinela Avenue

    Santa Monica, CA 90404
    • $2,650,000
    • STATUS: Active
    • ON SITE: 139 days
    • ID#: 18369232
    UPDATED: 29 min ago
    $2,650,000
    • 0
      BEDS
    • 0.18
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 7,156
      SQFT
    • $370
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1969
    County:

    School Ratings & Info

    Description

    We are proud to present this rare 7-unit apartment building located in the heart of Santa Monica. 1537 Centinela Avenue is a multi-family property constructed of wood framed stucco in 1969. The Property consists of a superior mix of One 1 bedroom / 1 bathroom and Six 2 bedroom / 2 bathroom units, with one 2 bedroom / 2 bathroom unit being delivered vacant. An onsite laundry room adds further income and creates a level of convenience for the residents. With significant upside in rents and future potential income from renting out the garages, a savvy investor will be able to increase the cash flow of the property up to 80%. The Property is located in the high-demand rental market of Santa Monica, walking distance to all major shopping and dining. Santa Monica has one of the highest rents in all of Los Angeles County.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2018-12-13T15:32:31.123. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. Licensed in the State of California, USA.
    www.impactca.com/homes/85994099

    1537 Centinela Avenue Santa Monica, CA 90404

    • Price: $2,650,000
    • Status: Active
    • Updated: 29 min ago
    • ID#: 18369232
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.18
    Acres
    7,156
    SQFT
    $370
    $/SQFT
    1969
    Built
    Neighborhood:
    C14 - Santa Monica
    County:
    Los Angeles
    Area:
    C14 - Santa Monica
    Property Description
    We are proud to present this rare 7-unit apartment building located in the heart of Santa Monica. 1537 Centinela Avenue is a multi-family property constructed of wood framed stucco in 1969. The Property consists of a superior mix of One 1 bedroom / 1 bathroom and Six 2 bedroom / 2 bathroom units, with one 2 bedroom / 2 bathroom unit being delivered vacant. An onsite laundry room adds further income and creates a level of convenience for the residents. With significant upside in rents and future potential income from renting out the garages, a savvy investor will be able to increase the cash flow of the property up to 80%. The Property is located in the high-demand rental market of Santa Monica, walking distance to all major shopping and dining. Santa Monica has one of the highest rents in all of Los Angeles County.
    Exterior Features

    Lot Size Units Square Feet Parking Features Other Parking YN Yes

    Interior Features

    Cooling See Remarks Cooling YN Yes Laundry Features See Remarks

    Property Features

    Association Amenities Other Association YN Yes Cap Rate 3.16 Gross Multiplier 18.78 Gross Operating Income 139416.00 Improvements Amount 319216 Land Value 518915 Laundry YN Yes Net Operating Income 82639.00 Special Listing Conditions Standard Total Expenses 54275.00 Zoning Smr2*

    Listing provided courtesy of Filip Niculete of Marcus & Millichap.


    Based on information from California Regional Multiple Listing Service, Inc. as of 2018-12-13T15:32:31.123. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. Licensed in the State of California, USA.
     
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