NOT LISTED FOR SALE
10 Beds
8 Baths
5,624 Sq Ft
8,008 Sq Ft Lot

Last Sold March 19, 2021

Last sale price $2,700,000 $480 Per Sq Ft

125 Days on Market

Highlights

  • Granite Countertops
  • No HOA
  • Tile Flooring
  • Will Rogers Elementary Rated A
  • Laundry Room
  • Vinyl Fence

About This Home

As of March 2021

NONE RENT CONTROL Building. Units are current with rents, no deferred rents due to COVID. Building was constructed in 1957 and was placed in this location on 1988. (Santa Monica city records shows as non rent control, buyer and agent to verify the information with city)
Great area of Santa Monica, close to Santa Monica Collage.
Two story building with 6 units. Building and units have been remodeled. There are Two 3B/2B and four 1B/1B.
There are eight parking spots in the back of the units. Separate laundry room, double pane windows, tile roof, raised foundation. There are seven electric meters, seven gas meters and one water meter. Low vacancy and low maintenance!
Close to Freeway 10, shopping, beach, restaurants.

Last Agent to Sell the Property

May Motamedi

Realty America Group License #01262095 Listed on: 09/21/2020

Last Buyer's Agent

Blas Fernandez

JohnHart Real Estate License #02012036

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1957

Lot Details

  • 8,008 Sq Ft Lot
  • No Common Walls
  • Vinyl Fence
  • Back and Front Yard

Home Design

  • Raised Foundation
  • Tile Roof

Interior Spaces

  • 5,624 Sq Ft Home
  • 2-Story Property
  • Laundry Room

Kitchen

  • Gas Oven
  • Gas Range
  • Granite Countertops

Flooring

  • Laminate
  • Tile
  • Vinyl

Bedrooms and Bathrooms

  • 10 Bedrooms
  • 8 Bathrooms

Parking

  • 8 Open Parking Spaces
  • 8 Parking Spaces
  • Parking Available
  • Assigned Parking

Utilities

  • Wall Furnace
  • Gas Water Heater

Listing and Financial Details

  • Tenant pays for electricity, gas
  • Legal Lot and Block 7 / 14
  • Assessor Parcel Number 4274012006

Community Details

Overview

  • No Home Owners Association
  • 6 Units

Amenities

  • Laundry Facilities

Building Details

  • 6 Leased Units
  • 6 Separate Electric Meters
  • 6 Separate Gas Meters
  • Electric Expense $432
  • Fuel Expense $900
  • Gardener Expense $1,200
  • Insurance Expense $1,740
  • Maintenance Expense $2,440
  • Other Expense $135
  • Trash Expense $2,784
  • Water Sewer Expense $5,400
  • New Taxes Expense $33,750
  • Operating Expense $54,636
  • Gross Income $192,000
  • Net Operating Income $142,980

Property Details

Home Type

Multi-Family

Year Built

Built in 1957

Lot Details

0

Listing Details

  • Assessments: No
  • CapRate: 5.30
  • Property Attached: No
  • Water Sewer Expenses: 5400.00
  • Zoning: SMR2*
  • Property Type: Residential Income
  • Gardener Expense: 1200.00
  • Parcel Number: 4274012006
  • Year Built: 1957
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Fireplace: No
  • Interior Amenities: Granite Counters
  • Stories: 2
  • Common Walls: No Common Walls
  • Flooring: Laminate, Tile, Vinyl
  • Appliances: Yes
  • Levels: One
  • Price Per Square Foot: 480.09

Exterior Features

  • Foundation: Raised
  • Fence: Yes
  • Fencing: Vinyl
  • Pool Private: No
  • Roof: Tile

Garage/Parking

  • Parking: Yes
  • Parking Features: Assigned
  • Total Parking Spaces: 8.00
  • Uncovered Spaces: 8.00

Utilities

  • Heating: Yes
  • Laundry: Yes
  • Appliances: Gas Oven, Gas Range, Gas Water Heater
  • Heating Type: Wall Furnace
  • Laundry Features: Common Area
  • Sewer: Public Sewer
  • Trash Expense: 2784.00
  • Water Source: Public

Condo/Co-op/Association

  • Association: No
  • Senior Community: No
  • Community Features: Sidewalks

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: Back Yard, Front Yard
  • Lot Size Sq Ft: 8008.00
  • Lot Size Acres: 0.1838

Rental Info

  • Tenant Pays: Electricity, Gas

Multi Family

  • Electric Expense: 432.00
  • Fuel Expense: 900.00
  • Gross Income: 192000.00
  • Gross Multiplier: 14.00
  • Gross Operating Income: 179940.00
  • Gross Scheduled Income: 192000.00
  • Insurance Expense: 1740.00
  • Laundry Equipment Own Lease: Own
  • Laundry Income: 1200.00
  • Lot Size Area: 8008.0000 Square Feet
  • Maintenance Expense: 2440.00
  • Maintenance Percent: 1.30
  • Net Operating Income: 142980.00
  • Number Of Separate Electric Meters: 6
  • Number Of Separate Gas Meters: 6
  • Number Of Units Leased: 6
  • Number Of Units Total: 6
  • Operating Expense: 49020.00
  • Operating Expense Percent: 3.10
  • Other Expense: 135.00
  • Other Expense Description: Fire Dep
  • Rent Control: No
  • Total Actual Rent: 14695.00
  • Total Expenses: 54636.00
  • Vacancy Allowance: 2681
  • Vacancy Allowance Rate: 1.50

Tax Info

  • New Taxes Expense: 33750.00
  • Tax Block: 14
  • Tax Census Tract: 7018.02
  • Tax Lot: 7

Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Property History

Date Event Price Change Sq Ft Price
03/19/2021 03/19/21 Sold $2,700,000 0.0% $480 / Sq Ft
01/24/2021 01/24/21 Pending -- -- --
01/04/2021 01/04/21 Price Changed $2,700,000 0.0% $480 / Sq Ft
01/04/2021 01/04/21 For Sale $2,700,000 0.0% $480 / Sq Ft
12/01/2020 12/01/20 Off Market $2,700,000 -- --
10/04/2020 10/04/20 Price Changed $2,999,000 -8.6% $533 / Sq Ft
09/21/2020 09/21/20 For Sale $3,280,000 -- $583 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: SR20197038

California Regional Multiple Listing Service (CRMLS)