Active
1047 Ocean Park Boulevard
Santa Monica CA, 90405
$2,875,000
$542.86 per sqft
Active
5,296 sqft
Residential
Built in 1947
Listed by David Messiah with Lyon Stahl Investment Real Estate, Inc. 310-425-9838
1047 Ocean Park Blvd is a 5,296-square-foot, seven-unit apartment building located in the Ocean Park Submarket in the City of Santa Monica. Situated on a 6,617-sf corner lot, the property contains a highly desirable unit mix of (five) 2-bedroom/1-bathroom units and (two) studio units, while (one) 2-bedroom/1-bathroom unit is a spacious townhome. The property was retrofitted within the last two years; foundational work was completed in 2023, and a new concrete driveway was installed in November 2022. Furthermore, there are a total of ten parking spaces with four additional tandem spots. 1047 Ocean Park Blvd provides an investor with the opportunity to own a trophy asset in a desirable pocket of Santa Monica! The asset has a value-add component with approximately 42% in rental upside and a 6.50% pro-forma cap rate and 11.07 pro-forma GRM!
24358301
MLSⓇ ID
February 20, 2024
Listed
March 28, 2024
Updated
Map
1047 Ocean Park Boulevard
Santa Monica CA, 90405
Interior Features
Total Stories
2
Appliances
Microwave, Dryer, Washer
Fireplace
No
Cooling
No
Heating
No
Exterior/Building Features
Lot Size
0.15 Acres
Other Property Details
Area Name
C14 - Santa Monica
Days on Market
10
Garage
No
Parking
Carport
Parking Total
0
View
No
County
Los Angeles
Pool
No
Pool Features
None
Zoning
SMR3*
Buyer Agency Compensation
2.5%
Listing Contact: 310-425-9838
Based on information from the California Regional Multiple Listing Service (CRMLS) as of 3/28/2024. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, the Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. Any offer of compensation is made only to participants of the MLS where the listing is filed.
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Data last updated on 3/28/2024 at 3:17 PM UTC