1147 24th Street,Santa Monica, CA 90403
Santa Monica, CA 90403
Description
Set in one of Santa Monica's most coveted residential neighborhoods, just moments from the beach and the iconic Santa Monica Pier, this four-unit property presents an exceptional opportunity for investors and owner-users alike. The property features two studio residences with full bathrooms on the lower level and two 1-bedroom/1-bath residences on the upper level, creating a versatile unit mix with strong existing income and additional upside potential. Three residences are currently tenant occupied, while one of the upstairs 1-bedroom/1-bath units is intentionally being held vacant, creating an ideal opportunity for an owner-user to move in or for an investor to place a new tenant at market rent.The property features various updates, a beautiful shared outdoor area and four individual private garages, offering additional income potential of up to $295 per month each. Each of the four units has its own individual address and separate APN, creating the potential for future flexibility, including the possibility of individual unit sales, subject to applicable requirements and buyer investigation and due diligence. That's just $548,750 PER UNIT. NEAR THE BEACH! --- No HOA has currently been established, offering another unique aspect of the property and potential flexibility for a future owner, subject to applicable requirements and restrictions.Whether you're looking to diversify your investment portfolio or become an owner-investor by living in one residence while generating rental income from the others to help offset your mortgage, this property offers tremendous versatility. Financing opportunities may include zero-down programs for qualified buyers, as well as FHA 203(k) renovation financing, subject to borrower, lender and property eligibility.An incredible opportunity to build equity, generate income and own a uniquely structured multi-unit property in one of Southern California's most desirable coastal communities close to Santa Monica's renowned beaches, dining, shopping, entertainment and quintessential Westside lifestyle.
Details
| MLS # | 26996179 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active |
| Days On Site | 13 |
| Listing Provided By | Rodeo Realty | Christina Fetterolf |
Features
| Bed(s) | 2 |
|---|---|
| Bath(s) | 4 |
| SQ Feet | 1,469 |
| Garage | 4 |
| Story(s) | 2 |
| Units | 4 |
| Building(s) | 1 |
| Acreage | 0.14 |
Interior
| Heating | Electric |
|---|---|
| Heating Yes / No | Yes |
| Interior Features | Ceiling Fans |
| Appliances | Disposal, Microwave, Refrigerator, Dryer, Washer |
Parking
| Attached Garage Yes / No | Yes |
|---|---|
| Parking Features | Assigned, Garage |
| Garage Yes / No | Yes |
Area Information
| State | CA |
|---|---|
| County | Los Angeles |
| City | Santa Monica |
| Zip Code | 90403 |
| Area | C14 Santa Monica |
| Listing VS Median (in 90403) | |
Price: $2,195,000 low | high Med: $1,292,500 sqft: 1,469 low | high Med: 1,381 $ / sqft: $1,494 low | high Med: $941 On site: 13 low | high Med: 342 | |
Market Activity 90403
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Learn More About This Property
| State | CA |
|---|---|
| County | Los Angeles |
| City | Santa Monica |
| Zip Code | 90403 |
| Area | C14 Santa Monica |
| Listing VS Median (in 90403) | |
Price: $2,195,000 low | high Med: $1,292,500 sqft: 1,469 low | high Med: 1,381 $ / sqft: $1,494 low | high Med: $941 On site: 13 low | high Med: 342 | |