42
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$4,750,000
Est. payment /mo
6,220 Sqft Lot
Price Dropped by $200K
2306 3rd ST Santa Monica, CA 90405
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UPDATED:
12/19/2024 06:01 AM
Key Details
Property Type Multi-Family
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
MLS Listing ID SB24155287
HOA Y/N No
Year Built 1924
Lot Size 6,220 Sqft
Property Description
Situated in the picturesque Ocean Park neighborhood of Santa Monica, 2306 3rd Street stands as a rare gem for investors seeking a prestigious addition to their portfolio. Sitting on a double lot, this legacy 12-unit property features an eclectic mix of residential options, including (1) 4-unit building, (1) duplex, (1) single-family residence with an attached studio, and (4) detached bungalows. With a unit mix of (3) 2-bed/1-bath, (8) 1-bed/1-bath, and (1) studio, the property offers a total of 7,937 square feet of rentable space on a generous 12,703 square foot lot.
Boasting a 4.47% CAP rate and a market CAP rate of 6.67%, the investment potential is substantial. Residents enjoy the perfect blend of comfort and convenience, enhanced by the property's prime location. Positioned just blocks from the beach and within walking distance of top-tier retail and restaurants, 2306 3rd Street benefits from its enviable location between Venice Beach and Downtown Santa Monica.
Whether you're seeking steady returns or aiming to capitalize on the area's dynamic growth, this property represents a compelling opportunity in coveted location.
Boasting a 4.47% CAP rate and a market CAP rate of 6.67%, the investment potential is substantial. Residents enjoy the perfect blend of comfort and convenience, enhanced by the property's prime location. Positioned just blocks from the beach and within walking distance of top-tier retail and restaurants, 2306 3rd Street benefits from its enviable location between Venice Beach and Downtown Santa Monica.
Whether you're seeking steady returns or aiming to capitalize on the area's dynamic growth, this property represents a compelling opportunity in coveted location.
Location
State CA
County Los Angeles
Area C14 - Santa Monica
Zoning SMOP2*
Interior
Heating None
Cooling None
Fireplaces Type None
Fireplace No
Laundry Common Area
Exterior
Pool None
Community Features Biking
Private Pool No
Building
Lot Description 11-15 Units/Acre
Story 2
Sewer Public Sewer
Water Public
New Construction No
Others
Senior Community No
Tax ID 4289015012
Acceptable Financing Conventional
Listing Terms Conventional
Special Listing Condition Standard
Listed by Brett Lyon • Lyon Stahl Investment Real Estate, Inc. • 3107801899