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2218 24th Street

Santa Monica, CA 90405
  • $3,845,000
  • STATUS: Active
  • ON SITE: 36 Days
  • ID#: SB22071825
UPDATED: 56 min ago
$3,845,000
  • 0
    BEDS
  • 0.17
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
Built:
1947
County:

School Ratings & Info

Listing Agent(s): William Joseph of Joseph Group (310-956-2996) and Rachel Joseph of Joseph Group(310-956-2996)


Description

Following a significant 2022 renovation, this highly coveted Sunset Park income property features a vacant remodeled Single Family Residence and a detached 4-Unit Building with two units remodeled and vacant. Offered at a 3.9% Cap Rate and a 18.15 GRM, this property features an incredible unit mix which includes: (1) Spacious 2-Bed + Office Single Family Residence, (3) 1-Bed, 1-Bath units, and (1) Studio Unit. This meticulously renovated property offers sophistication not normally seen among income properties boasting newly added appliances, remodeled kitchens and bathrooms with quartz and porcelain countertops, updated flooring, recessed lighting as well as electrical and plumbing updates to both buildings. The single family residence includes a beautiful open kitchen and living area, high-end fixtures, patio and yard space as well as three dedicated parking spots. Within the 4-unit building there are two additional spaces which could be utilized for additional storage or laundry revenue. Located steps to the highly regarded Grant Elementary, Whole Foods, restaurants and shops, Santa Monica College, community parks, with a Walk Score of 76 and a Bike Score of 95 "Biker's Paradise", this property is well-positioned and highly marketable to a broad tenant base.

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Based on information from California Regional Multiple Listing Service, Inc. as of 2022-05-26T19:33:55.463. 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 or The Houston Team | Compass CA DRE#01991628. Licensed in the State of California, USA.
www.northsdrealty.com/homes/127830704
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2218 24th Street Santa Monica, CA 90405

  • Price: $3,845,000
  • Status: Active
  • On Site: 36 Days
  • Updated: 56 min ago
  • ID#: SB22071825
0
Beds
0
Baths
0
½ Baths
0.17
Acres
1947
Built
Neighborhood:
C14 - Santa Monica
County:
Los Angeles
Area:
C14 - Santa Monica
Property Description
Following a significant 2022 renovation, this highly coveted Sunset Park income property features a vacant remodeled Single Family Residence and a detached 4-Unit Building with two units remodeled and vacant. Offered at a 3.9% Cap Rate and a 18.15 GRM, this property features an incredible unit mix which includes: (1) Spacious 2-Bed + Office Single Family Residence, (3) 1-Bed, 1-Bath units, and (1) Studio Unit. This meticulously renovated property offers sophistication not normally seen among income properties boasting newly added appliances, remodeled kitchens and bathrooms with quartz and porcelain countertops, updated flooring, recessed lighting as well as electrical and plumbing updates to both buildings. The single family residence includes a beautiful open kitchen and living area, high-end fixtures, patio and yard space as well as three dedicated parking spots. Within the 4-unit building there are two additional spaces which could be utilized for additional storage or laundry revenue. Located steps to the highly regarded Grant Elementary, Whole Foods, restaurants and shops, Santa Monica College, community parks, with a Walk Score of 76 and a Bike Score of 95 "Biker's Paradise", this property is well-positioned and highly marketable to a broad tenant base.
Exterior Features

Carport Spaces 3 Carport YN Yes Lot Features 2-5 Units/Acre Number Of Separate Electric Meters 6 Parking Features Assigned Parking Total 5 Pool Features None Pool Private YN No Property Attached YN Yes Roof Shingle Spa Features None Spa YN No View Neighborhood View YN Yes

Interior Features

Common Walls 2+ Common Walls Cooling Central Air Cooling YN Yes Fireplace Features Family Room Fireplace YN Yes Flooring Laminate Heating Ductless Heating YN Yes Interior Features Ceiling Fan(S)

Property Features

Additional Parcels YN No Association Fee 0 Association YN No Cap Rate 3.9 Common Interest None Community Features Sidewalks Electric Expense 2400 Fuel Expense 0 Garage YN Yes Gross Income 5400 Gross Scheduled Income 211836 Insurance Expense 3600 Land Lease YN No Laundry Features See Remarks Levels Two Listing Agreement Exclusive Right To Sell Listing Service Full Service Listing Terms Conventional Maintenance Expense 3000 Net Operating Income 149974 New Construction YN No New Taxes Expense 48063 Number Of Separate Gas Meters 6 Number Of Separate Water Meters 1 Number Of Units Leased 2 Operating Expense 61863 Possession Close Of Escrow Rent Control YN Yes Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Tenant Pays ElectricityGasParking FeeTrash CollectionTelephone Trash Expense 0 Water Sewer Expense 3600 Water Source Public Zoning Smr1*



Based on information from California Regional Multiple Listing Service, Inc. as of 2022-05-26T19:33:55.463. 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 or The Houston Team | Compass CA DRE#01991628. Licensed in the State of California, USA.
 
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The Houston Team | Compass CA DRE#01991628
2100 Costa Del Mar
Carlsbad CA, 92009
Listing Agent(s): William Joseph of Joseph Group (310-956-2996) and Rachel Joseph of Joseph Group(310-956-2996)