2807 Highland Ave - Apartments FOR SALE


Santa Monica, CA 90405- Ocean Park
$3,500,000 USD
310-801-3442
2807 Highland Ave, Santa Monica, CA for Sale
$3,500,000 USD
Apartments - FOR SALE
1/17
null | 4.17% Cap Rate

2807 Highland Ave
Santa Monica, CA 90405
Ocean Park


HIGHLIGHTS

  • Investment Potential: A piece of architectural history that represents the beginning of Frank Gehry’s architectural career. Value-Add ADU potential.
  • Architectural Innovation: Features minimalist, geometric forms- a unique blend of modern & experimental design
  • Timeless Design: Industrial and raw materials, along with wood-burning fireplaces and open layouts, create a functional living experience
  • Historical Significance: A rare opportunity to own one of Frank Gehry’s earliest architectural works
  • Updated Property: On site EV Charging Station & all Electrical building.
  • Water: Single Metered

OVERVIEW

Hillcrest Apartments, located at 2807 Highland Avenue in Santa Monica, is one of Frank Gehry’s earliest completed projects, which he also occupied for 15 years. This is a once-in-a lifetime opportunity to own a project with historical value and a legendary story. Designed in 1962, this six-unit apartment complex sit on a 7,054 sq ft lot and reflects Gehry’s early architectural approach, which was rooted in modernist principles but hinted at the experimental, deconstructivist techniques he would later become famous for. Hillcrest Apartments represents an early yet significant step in Gehry’s career, blending modernist principles with the seeds of his future breakthroughs, such as the Disney Building, the Louis Vuitton Foundation Building and countless others. Hillcrest Apartments has been well maintained and has been updated with all electrical upgrades, including an EV charger. There is new copper plumbing throughout, water is separate metered and there is the potential to convert approximately 400 SF of storage into a Studio ADU. "Compass is a real estate broker licensed by the State of California and abides by Equal Housing Opportunity laws. License Number 01991628. All material presented herein is intended for informational purposes only and is compiled from sources deemed reliable but has not been verified. Changes in price, condition, sale or withdrawal may be made without notice. No statement is made as to accuracy of any description. All measurements and square footage are approximate."

FOR SALE DETAILS

PRICE

$3,500,000 USD

PRICE/SF

$457 USD /SF

# OF UNITS

6

PRICE/UNIT

$583,333

CAP RATE

4.17%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1962

PARKING SPACES

6

LAND DETAILS

LAND ACRES

0.16 AC

LAND SF

7,052 SF

ZONING

SMOP2*

APN/PARCEL ID

4287-018-003

ASK ABOUT THIS PROPERTY

Tim ByrneCOMPASS CommercialMore Info
310-801-3442

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Tim ByrneCOMPASS CommercialMore Info
310-801-3442

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