10-UNIT APARTMENT BUILDING
2408 Ocean Park Blvd 
Santa Monica, CA 90405

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OFFERING METRICS

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LISTING PRICE

$4,100,000

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GROSS SF

±6,160 SF

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LAND SF

±6,406 SF

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PRICE PER SF

$665.58

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ZONING

SMR3*

PROPERTY OVERVIEW

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.

 

OPPORTUNITY HIGHLIGHTS

  • 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

PHOTOS

 

CAPTURING THE HIGHEST RENT

LOCATION MAP

 

CONTACT

CASEY PICARD
Managing Partner

626.376.9224

Casey.Picard@AggregateIP.com

Cal DRE #01921866