10-UNIT APARTMENT BUILDING
2408 Ocean Park Blvd
Santa Monica, CA 90405
Located in Santa Monica, this asset is comprised of (5)- 1 bed/ 1 bath, (3)-Studio / 1 bath, and (2) -2 Bed / 1.75 Bath units with on-site laundry facilities atop a spacious 6,830 square foot lot. With three vacant units and 10 parking spaces, this ten-unit apartment building is the perfect opportunity for an investor looking to capitalize on premium rent prices through the execution of cost effective finishes in a growing portion of Santa Monica.
Situated between two major So-Cal beaches, Venice Beach and Santa Monica State Beach, this building is a 10-minute drive from the Pier and Downtown Santa Monica. Just a short drive to Lincoln Blvd, this property is in close proximity to major markets Whole Foods, Trader Joe’s and Gelson’s and surrounded by an array of takeout and dining options.
With easy access to the 10 and 405 Freeway, this property is perfect for tenants who want the laid-back beach lifestyle in an area just close enough to LA for work or play. This property offers investors the ability to maximize profitability on tenants who want to live in one of the most highly sought-after neighborhoods in Los Angeles county surrounded by upscale entertainment and occupational opportunities.
Great value-add apartment complex totaling ten units with a building SF of ±6,160 on a ±6,406 SF lot
Most units have laminate flooring, carpet in the bedrooms, and sliding mirror closet doors in bedrooms
Three units to be delivered vacant
10 tuck-under parking spaces ( retrofit potentially needed)
On-site laundry machines for tenant use
Clean landscaping in the front of the property
The property sits within proximity to many retailers, delis restaurants, and employers in the Santa Monica/Silicon Beach market place
Short trip to the beach, airport, and freeways
Quiet, well maintained asset allowing for less time intensive management responsibilities
Some units maintain balconies
Unit mix consisting of (2) - 2 bed / 1.75 bath, (5) - 1 bed / 1 bath, and (3) -studio / 1 bath units
CAPTURING THE HIGHEST RENT