1228 West 10th Street, Santa Monica, CA 90401

$6,150,000
15
BD
15
BA
8,700
SqFt
List Price
$6,150,000
MLS#
19531098
Bedrooms
15
Bathrooms
15
Living Sq. Ft
8,700
Lot Size
15,026
Property Type
Multifamily
Status
Active

Property Description

SVN is pleased to present an opportunity to acquire two adjacent apartment buildings with combined 15 units consisting of all 1 bedroom/1 bath apartments, 1224-1228 10th Street Santa Monica. The subject property is situated on a double lot located just south of Wilshire Boulevard with approximately 15,026 lot SF, zoned R3 in the heart of Santa Monica. Subsequently, the property offers an Investor the opportunity to create additional value by rehabbing the existing units to achieve market rents with over 25% upside in rent growth. Alternatively, the current Owner has undergone though an entitlement process for 13 luxury condo units pre-approved by the city of Santa Monica for a Developer to build in the near future. 1224 10th Street is built in 1951 with (5) 1 bedroom/1 bath units each with a private outdoor patio space averaging 453 SF per unit. 1228 10th Street is a 2-story walk-up apartment building built in 1958 and is comprised of (10) 1 bedroom units averaging 788 SF per unit.

Additional Information

Units
15
Net Operating Income
$241,863
Total Parking Spaces
13
Year Built
1958
View
Heat
Other
Cooling
Wall or Window Units

Mortgage Calculator

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Calculator source: Real Geeks

Courtesy of Sperry Van Ness, Daniel Baird.

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