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A rare opportunity to own a remodeled 5-unit property in the
heart of Santa Monica. This 4,454 sq. ft. building sits on a spacious
7,510 sq. ft. R3 lot, offering excellent ADU potential and future
development opportunities. The front house is a 2-bed/2-bath
Craftsman home, which is vacant and ready for an owner-user or
new tenant. It features a fireplace, bay window, large living room,
hardwood floors, countertop island, in-unit washer and dryer, and
both a front and side yard. Attached to it, through a separate
entrance, is an attic space configured as a 1-bed/1-bath unit with
a kitchenette, providing additional space and flexibility. The
property’s charming garden-style design enhances its curb
appeal.
The rear of the property includes four units: two 1-bed/1-bath units
(one currently vacant) and two studio units, one which includes a
private deck, allowing an investor to maximize rental income. The
building is in excellent condition, with seismic retrofitting
completed, a relatively new roof, and copper plumbing.
Additionally, there are four garages, two of which are separately
rented, generating extra income. The property boasts a current
cap rate of 5.05% and a GRM 13.14, making it a highly attractive
investment. With a desirable unit mix, prime location, and potential
for additional development, this is a phenomenal opportunity to
invest in one of Santa Monica’s most sought-after neighborhoods.