NOT LISTED FOR SALE

2408 5th St Santa Monica, CA 90405

Ocean Park Neighborhood

Estimated Value: $2,080,500 - $2,454,000

8 Beds
6 Baths
3,996 Sq Ft
$551/Sq Ft Est. Value

Sale Details

Date Sold: July 3, 2024

Last sale price $2,100,000 $526 Per Sq Ft

Est. 5% increase in value since last sale

Current estimated payment $11,927 / mo

101 Days on Market

Highlights

  • Midcentury Modern Architecture
  • John Muir Elementary School Rated A
  • 1-minute walk to Los Amigos Park

About This Home

As of July 2024

THE MOST DESIRABLE UNIT WILL NOW BE DELIVERED VACANT. PERFECT OPPORTUNITY FOR AN OWNER-USER. Welcome to 2408 5th Street, a captivating four-unit multi-family property nestled in the heart of the vibrant Ocean Park neighborhood of Santa Monica. This exceptional offering presents a rare opportunity to embrace the quintessential beach lifestyle while enjoying the benefits of a smart investment. Spanning an impressive 3,996 square feet, this property is comprised of a pair of two-level 2 bed/1.5 bath units and two one-level 2 bed/1 bath units, each featuring inviting living spaces that promise comfort and functionality. The freshly updated exterior adds to the allure of this residence, ensuring it stands out as a beacon of modern living in a sought-after locale. Investors will find significant value in the upside potential for rents, alongside the exciting possibility of adding an Accessory Dwelling Unit (ADU) to maximize living space or rental income. With five dedicated parking spaces, residents and guests alike will appreciate the convenience and ease of access this property provides. Situated just one block from Hotchkiss Park, four blocks from Main Street and a leisurely stroll to the sand, residents can indulge in local attractions or enjoy the serene beauty of nearby beaches. The Ocean Park neighborhood is not only celebrated for its scenic vistas but also for its vibrant community and rich cultural offerings. Whether you're looking to expand your real estate portfolio or seeking a multi-family residence that epitomizes coastal living at its finest, 2408 5th Street awaits your discovery.

Last Agent to Sell the Property

Corey Nelson

Robust Real Estate License #01462372 Listed on: 03/01/2024

Last Buyer's Agent

Maria Santos Ortiz

Figure 8 Realty License #02146082

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1963

Lot Details

  • 6,005

Home Design

  • Midcentury Modern Architecture

Interior Spaces

  • 3,996 Sq Ft Home
  • 2-Story Property
  • Stacked Washer and Dryer Hookup

Kitchen

  • Oven or Range
  • Disposal

Bedrooms and Bathrooms

  • 8 Bedrooms
  • 6 Bathrooms

Parking

  • 5 Open Parking Spaces
  • 5 Parking Spaces
  • Driveway

Additional Features

  • 6,005 Sq Ft Lot
  • Heating System Mounted To A Wall or Window

Community Details

  • 4 Units
  • Vacancy Allowance $4,303

Listing and Financial Details

  • Tenant pays for electricity, gas
  • The owner pays for water, gardener
  • Assessor Parcel Number 4287-007-020

Property Details

Home Type

Multi-Family

Year Built

Built in 1963

Lot Details

6,005 Sq Ft Lot

Listing Details

  • Property Type: Residential Income
  • Style: Mid-Century
  • Levels: Two
  • Street Number Display: Yes
  • Living Area: 3996
  • Lot Acreage: 0.1379
  • Stories: 2
  • Year Built: 1963
  • State Abbrv: CA
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Bedrooms: 8
  • Common Walls: Attached
  • Total Bathrooms: 6.00
  • Equipment: Gas Or Electric Dryer Hookup, Hood Fan, Range/Oven, Garbage Disposal, Stackable W/D Hookup
  • Price Per S Q F T: 562.81

Exterior Features

  • Other Structures: None
  • View: No

Garage/Parking

  • Other Spaces: 5
  • Parking Garage: Driveway
  • Total Parking: 5

Utilities

  • Heating: Wall
  • Water Expense: 5566.00
  • Water Heaters: Yes

Fee Information

  • Insurance Expense: 4727.00
  • Management Expense: 4587.00

Lot Info

  • Assessed Improvement Percent: 61.00
  • Assessed Improvement Value: 97998
  • Assessed Land Percent: 39
  • Assessed Land Value: 62653
  • Total Assessed Value: 160651
  • Assessor Parcel Number: 4287-007-020
  • Lot Size Area: 6005

Rental Info

  • Total Actual Rent: 143448.00
  • Owner Pays: Water, Gardener
  • Tenant Pays: Electricity, Gas

Multi Family

  • Unit Type: 2106, 2107, 2108, 2109
  • Gross Rent Multiplier: 15.68
  • Number Of Units: 4
  • Type Of Units: Apartments
  • Vacancy Allow: 4303
  • Vacancy Allow Percent: 3.00

Tax Info

  • Tax Expense: 27434.00

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Mar 1, 2024
Closed on
Jun 6, 2024
Sold by
Sundor Group Llc
Bought by
Santa Monica 5Th Street Limited Partnership
Seller's Agent
Corey Nelson
Robust Real Estate
Buyer's Agent
Maria Santos Ortiz
Figure 8 Realty
List Price
$2,365,000
Sold Price
$2,100,000
Premium/Discount to List
-$265,000
-11.21%
Views
53
Current Estimated Value
$2,200,125

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$100,125
Avg. Annual Appreciation
2.58%
Original Mortgage
$2,065,000
Outstanding Balance
$2,038,241
Interest Rate
6.94%
Mortgage Type
New Conventional
Estimated Equity
$161,884

Purchase Details

Closed on
Nov 2, 2020
Sold by
Panlasigul Mary Ann
Bought by
Sundor Group Llc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$268,000
Interest Rate
2.8%
Mortgage Type
New Conventional

Purchase Details

Closed on
Aug 14, 2013
Sold by
Panlasigui Carmelo
Bought by
Sundor Group Llc

Purchase Details

Closed on
Jun 1, 2013
Sold by
Sundor Group Llc
Bought by
Panlasigui Carmelo and Panlasigui Mary Ann

Purchase Details

Closed on
Dec 15, 2006
Sold by
Panlasigui Carmelo G and Panlasigui Mary Ann
Bought by
Sundor Group Llc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$323,000
Interest Rate
6.33%
Mortgage Type
Purchase Money Mortgage

Purchase Details

Closed on
Feb 23, 2005
Sold by
Panlasigui Carmelo and Panlasigui Mary Ann
Bought by
Sundor Group Llc
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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Average Value
Not Available
List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Santa Monica 5Th Street Limited Partnership $2,100,000 Lawyers Title
Sundor Group Llc -- Lawyers Title
Panlasigul Mary Ann -- Lawyers Title Sd
Sundor Group Llc -- None Available
Panlasigui Carmelo -- None Available
Sundor Group Llc -- Commonwealth Land Title Co
Panlasigui Carmelo G -- Commonwealth Land Title
Sundor Group Llc -- --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Santa Monica 5Th Street Limited Partnership $2,065,000
Previous Owner Panlasigul Mary Ann $268,000
Previous Owner Panlasigui Carmelo G $323,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
07/03/2024 07/03/24 Sold $2,100,000 -6.6% $526 / Sq Ft
06/10/2024 06/10/24 Pending -- -- --
05/20/2024 05/20/24 Price Changed $2,249,000 -4.9% $563 / Sq Ft
03/01/2024 03/01/24 For Sale $2,365,000 -- $592 / Sq Ft
Source: The MLS

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $3,141 $2,100,000 $1,800,000 $300,000
2024 $3,141 $163,863 $63,906 $99,957
2023 $3,091 $160,651 $62,653 $97,998
2022 $3,032 $157,502 $61,425 $96,077
2021 $2,910 $154,415 $60,221 $94,194
2020 $2,886 $152,833 $59,604 $93,229
2019 $2,848 $149,837 $58,436 $91,401
2018 $2,628 $146,900 $57,291 $89,609
2016 $2,477 $141,197 $55,067 $86,130
2015 $2,442 $139,077 $54,240 $84,837
2014 $2,449 $136,354 $53,178 $83,176
Source: Public Records

Agents Affiliated with this Home

  • Corey Nelson

    Seller's Agent in 2024

    Corey Nelson

    Robust Real Estate

    (310) 927-0095

    1 in this area

    67 Total Sales

    Corey Nelson
    Section Image

  • M

    Buyer's Agent in 2024

    Maria Santos Ortiz

    Figure 8 Realty

    (619) 663-8680

    1 in this area

    3 Total Sales

    Maria Santos Ortiz
    Section Image
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Map

Source: The MLS

MLS Number: 24-362531

The MLS

APN: 4287-007-020

California Los Angeles County Santa Monica 90405 Ocean Park

2408 5th St, Santa Monica, CA

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The MLS © 2026 The MLS™ - Combined L.A. Westside MLS (CLAW). All rights reserved. Based on information from The MLS™ - Combined L.A. Westside MLS (CLAW). All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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