$2,835,000
$2,995,000
5.3%For more information regarding the value of a property, please contact us for a free consultation.
0.26 Acres Lot
SOLD DATE : 03/03/2020
Key Details
Sold Price $2,835,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
MLS Listing ID SB19095423
Sold Date 03/03/20
HOA Y/N No
Year Built 1923
Lot Size 0.260 Acres
Acres 0.26
Property Description
CALL FOR OFFERS! ALL OFFERS DUE TUESDAY 9/24/19 - We are pleased to present 1307 17th Street, a value-add 7-unit multifamily investment property located in prime North Santa Monica. This beautiful Garden Style property has a unique composition of seven (7) one-bedroom/one-bathroom bungalows each with their own: laundry room, sit-in kitchen, garden area and front porch and back door, a community court yard and two large picnic areas perfect for BBQs and outdoor entertainment. One unit will be delivered VACANT at the close of escrow, offering immediate rental upside. The Bungalow style layout in Santa Monica is one in high demand and very difficult to find – this opportunity won’t last long. 1307 17th Street is ideally located within walking distance to both Saint John’s Hospital Center and UCLA Medical Center, two of the largest employers in Santa Monica. The central location gives tenants easy access to a large variety of workplace and entertainment options. Situated on an 11,259 SF Lot, operating at a 4.45% CAP rate with in-place rents - 1307 17th Street offers an astute investor the opportunity to acquire a multifamily asset in one of the most desirable neighborhoods of Southern California. By implementing a value-add program to raise rents to market levels, 1307 17th Street is a truly unique and lucrative investment. 4 onsite garages each rented to outside parties at $400/m providing additional income of $1200/m. Please do not walk the property or disturb tenants.
Location
State CA
County Los Angeles
Area C14 - Santa Monica
Zoning SMR2*
Rooms
Ensuite Laundry Washer Hookup, Electric Dryer Hookup, Gas Dryer Hookup, In Kitchen
Interior
Laundry Location Washer Hookup,Electric Dryer Hookup,Gas Dryer Hookup,In Kitchen
Flooring Wood
Fireplace No
Laundry Washer Hookup, Electric Dryer Hookup, Gas Dryer Hookup, In Kitchen
Exterior
Garage Door-Single, Garage, Garage Faces Rear, See Remarks
Garage Spaces 4.0
Garage Description 4.0
Pool None
Community Features Urban
Parking Type Door-Single, Garage, Garage Faces Rear, See Remarks
Total Parking Spaces 4
Private Pool No
Building
Lot Description 0-1 Unit/Acre, Garden, Landscaped, Trees, Yard
Story 1
Entry Level One
Sewer Public Sewer
Water Public
Level or Stories One
New Construction No
Others
Senior Community No
Tax ID 4276030021
Acceptable Financing Cash, Cash to New Loan, Conventional, 1031 Exchange, Submit
Listing Terms Cash, Cash to New Loan, Conventional, 1031 Exchange, Submit
Financing Cash to New Loan
Special Listing Condition Standard
Read Less Info
Want to know what your home might be worth? Contact us for a FREE valuation!
Our team is ready to help you sell your home for the highest possible price ASAP
Bought with Karine Mailliez • Sotheby's International Realty
GET MORE INFORMATION
CEO | DRE# SA695240000 | DRE# 02100184