Active
1336 Franklin Street
Santa Monica CA, 90404
$2,960,000
$576.77 per sqft
Active
10 Beds
6 Baths
5,132 sqft
Residential
Built in 1939
Listed by Kimberly Roberts Stepp with KW Advisors 310-482-2200
1336 Franklin Street is a six (6) unit investment asset in Prime Santa Monica. The property consists of four (4) 2BD/1BA units and two (2) 1 BD/1BA units. Onsite laundry facilities and eight (8) storage spaces provide additional income. Three (3) garages offer the potential for ADU conversion. The property is ideally located in the center of highly desirable Santa Monica. A plethora of world class entertainment, media and technology companies are located within just a one-mile radius, including Hulu, Riot Games, Snapchat and Oracle. EXTREMELY WALKABLE LOCATION. With a Walk Score of 92, the property provides easy, walkable access to all amenities for daily errands and Water Gardens. The building is just blocks from Whole Foods Market, coffee shops, world class restaurants, retail and outdoor recreation areas. WELL-PRICED OWNER/USER OPPORTUNITY. Priced at 4.5% cap rate and 14.6 GRM on current income, this property provides a new buyer with an excellent value-add opportunity for future rent growth and appreciation. INVESTMENT HIGHLIGHTS. Prime Santa Monica Location (4) 2BD/1BA Units and (2) 1BD/1BA Units with On-Site Laundry, Storage and (4) Garages with (3) Units Delivered Vacant and 4.5% Cap Rate with Current Income Priced at Only 14.6 x Gross.
23317837
MLSⓇ ID
October 13, 2023
Listed
May 9, 2024
Updated
Map
1336 Franklin Street
Santa Monica CA, 90404
Interior Features
Total Stories
2
Bedrooms
10
Total Bathrooms
6
Fireplace
No
Cooling
No
Heating
Yes
Heating Description
Wall Furnace
Exterior/Building Features
Lot Size
0.18 Acres
Other Property Details
Area Name
C14 - Santa Monica
Days on Market
195
Garage
No
Parking
Uncovered
Parking Total
7
View
No
County
Los Angeles
Pool
No
Zoning
SMR2*
Buyer Agency Compensation
2%
Listing Contact: 310-482-2200
Based on information from the California Regional Multiple Listing Service (CRMLS) as of 5/9/2024. 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 5/9/2024 at 1:37 PM UTC