537 San Vicente Blvd - Apartments FOR SALE


Santa Monica, CA 90402
$21,995,000 USD
310-968-5303
537 San Vicente Blvd, Santa Monica, CA for Sale
$21,995,000 USD
Apartments - FOR SALE
1/23
null | Request Cap Rate

537 San Vicente Blvd
Santa Monica, CA 90402


HIGHLIGHTS

  • MASSIVE PRICE REDUCTION: Premier Santa Monica Location
  • Excellent Unit Mix
  • Significant Rental Upside
  • Subterranean Parking
  • Approx. $1,443,000 Spent on Apartment Renovations and Approx. $567,000 Spent on Common Area Renovations

OVERVIEW

MASSIVE PRICE REDUCTION!!! Taksa Investment Group, part of RE/MAX Commercial & Investment Realty, is pleased to offer for sale an incredibly rare multifamily asset at 537 San Vicente Blvd. in the heart of LA’s famed beach city of Santa Monica. Originally built in 1957, the building boasts an ideal unit mix consisting of all large 1 & 2 bedroom units. All of these units are extremely spacious, have a terrific floor plan, and offer an abundance of natural light. There is significant rental upside, and on-site parking for 33 cars (and a wraparound driveway for additional parking), an on-site laundry facility and beautiful sparkling pool. The unit mix includes (19) 1-bed, 1-bath units, and (14) 2-bed, 2-bath units. This is a fantastic trophy asset in an undeniably attractive location that will surely pay long-term dividends to a savvy investor. A quick walk to Montana Avenue and the beach, this rare offering presents an astute investor with the unique opportunity to capitalize on higher market rents and to acquire a premier turnkey asset in one of the best rental locations in all of Los Angeles.

FOR SALE DETAILS

PRICE

$21,995,000 USD

PRICE/SF

$544 USD /SF

# OF UNITS

33

PRICE/UNIT

$666,515

CAP RATE

Request Cap Rate

% LEASED

88%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

MASSIVE $ Reduction: 33 Units on San Vicente

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1957

PARKING SPACES

33

LAND DETAILS

LAND ACRES

0.51 AC

LAND SF

22,150 SF

ZONING

R3, Santa Monica

APN/PARCEL ID

4293-001-018

ASK ABOUT THIS PROPERTY

Jonathan TaksaRE/MAX Commercial & Investment RealtyMore Info
310-968-5303

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Jonathan TaksaRE/MAX Commercial & Investment RealtyMore Info
310-968-5303

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.