NOT LISTED FOR SALE

722 Pier Ave Santa Monica, CA 90405

Ocean Park Neighborhood

Estimated Value: $3,436,000 - $4,987,000

8 Beds
8 Baths
4,107 Sq Ft
$998/Sq Ft Est. Value

Last Sold January 22, 2019

Last sale price $3,110,000 $757 Per Sq Ft

Est. 32% increase in value since last sale

Current estimated payment $25,664/month

130 Days on Market

Highlights

  • Built-In Features
  • 3 Attached Carport Spaces
  • 4-minute walk to Ozone Park
  • John Muir Elementary School Rated A
  • Forced Air Heating System

About This Home

As of January 2019

Over $ 212,000 Actual Rent. CAP RATE 5.12 GRM 14.83. Seller has owned building 13 years and is retiring.. 4 - 2/2 plus a creative studio. No Soft Story Retrofit to Close to BEACH and near Main St in the newly upgraded " Santa Monica LiNC" transit.. Luxury Renovated . Prime SM Completely remodeled with SW Ocean views from large private terraces. A Turn key Investment or Great Owner user property. Walk to,Main St.,Abbot Kinney,Whole Foods, CVS, Starbucks. LEGAL 4 Unit plus Creuative Studio in back not under rent control. Real Wood floors,Granite,designer tile, Central AC, large fitted closets, Laundry in each unit ,Copper plumbing, Soaker tubs, Kohler , Toto, Open plan kitchens,SS appliances,,DUROLAST roof still under warranty,low voltage recessed lighting, low utility costs,bicycle room,storage,water efficient Landscape,water restricting faucets,soundproofing between floors , solid wood doors and trim. .Buyer to co-operate with sellers 1031 excha

Last Agent to Sell the Property

Susan Marfleet

Keller Williams Beverly Hills License #01472064 Listed on: 07/24/2018

Keller Williams Beverly Hills

Last Buyer's Agent

John Ravenna

Compass License #01449072

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $40,386

Year Built

  • Built in 1963

Lot Details

  • 5,008 Sq Ft Lot

Interior Spaces

  • 4,107 Sq Ft Home
  • 2-Story Property
  • Built-In Features

Kitchen

  • Oven or Range
  • Microwave
  • Ice Maker
  • Water Line To Refrigerator
  • Dishwasher
  • Disposal

Bedrooms and Bathrooms

  • 8 Bedrooms
  • 8 Bathrooms

Laundry

  • Laundry in unit
  • Dryer

Parking

  • 3 Parking Spaces
  • 3 Attached Carport Spaces

Utilities

  • Forced Air Heating System
  • Cable TV Available

Community Details

  • 5 Units
  • Rent Control

Listing and Financial Details

  • Assessor Parcel Number 4287-030-005

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$40,386

Year Built

Built in 1963

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Levels: Two
  • Street Number Display: Yes
  • ADA Compliant: No
  • Alley: Yes
  • Living Area: 4107
  • Probate: No
  • Stories: 2
  • Year Built: 1963
  • Number Of Photos: 27
  • State Abbrv: CA
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Bedrooms: 8
  • Dining Room: 0
  • Family Room: 0
  • Laundry: In Unit
  • Laundry Equipment: Own
  • Total Bathrooms: 8.00
  • Den: 0
  • Equipment: Built-Ins, Cable, Dishwasher, Dryer, Garbage Disposal, Gas Dryer Hookup, Hood Fan, Ice Maker, Microwave, Network Wire, Range/Oven, Refrigerator, Stackable W/D Hookup, Water Line to Refrigerator
  • Price Per S Q F T: 766.98

Exterior Features

  • Tennis Court Y/N: No
  • Construction: stucco/woo
  • Pool: No

Garage/Parking

  • Carport Spaces: 3
  • Covered Parking: 3
  • Parking Garage: Carport Attached
  • Total Parking: 3

Utilities

  • Cooling: Air Conditioning
  • Electric Expense: 624.00
  • Heating: Forced Air
  • Water Expense: 1589.00

Fee Information

  • Gas Expense: 580.00
  • Insurance Expense: 2500.00
  • Maintenance Expense: 1500.00
  • Trash Expense: 1250.00

Lot Info

  • Additions Alterations: No
  • Assessed Improvement Value: 470833
  • Assessed Land Value: 946402
  • Assessor Parcel Number: 4287-030-005
  • Geocode Override: No
  • Lot Size Area: 5008

Rental Info

  • Number Leased: 4
  • Total Actual Rent: 212268.00
  • Land Lease Type: Fee
  • Lease Per Month Year: Year
  • Monthly Gross Income: 17690.00
  • Rent Control: Yes

Multi Family

  • Unit Type: 2106, 2107, 2108, 2109, 2110
  • Gross Rent Multiplier: 14.83
  • Number Of Units: 5
  • Rent Control: 80%
  • Total Annual Expense: 48233
  • Type Of Units: residential
  • Vacancy Allow Percent: 2.00
  • Vacancy Rate: 4245.00

Tax Info

  • Tax Expense: 37118.00
  • Tax New: 38990.00

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Oct 24, 2018
Sold by
Harmon Brian W
Bought by
Mark Ii Apartments Lp
Current Estimated Value
$4,100,216

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$250,000
Outstanding Balance
$220,255
Interest Rate
4.8%
Mortgage Type
Construction
Estimated Equity
$3,879,961

Purchase Details

Closed on
Feb 14, 2018
Sold by
Hamilton Capital Investments Llc
Bought by
Harmon Brian W

Purchase Details

Closed on
Jun 5, 2017
Sold by
Harmon Brian W
Bought by
Hamilton Capital Investments Llc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,805,000
Interest Rate
4.1%
Mortgage Type
New Conventional

Purchase Details

Closed on
May 3, 2017
Sold by
Hamilton Capital Investments Llc
Bought by
Harmon Brian W

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,805,000
Interest Rate
4.1%
Mortgage Type
New Conventional

Purchase Details

Closed on
Dec 21, 2015
Sold by
Harmon Brian W
Bought by
Hamilton Capital Investments Llc

Purchase Details

Closed on
Dec 16, 2003
Sold by
Sacks Phd William H
Bought by
Harmon Brian W

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$958,400
Interest Rate
6.25%
Mortgage Type
Purchase Money Mortgage
Source: Public Records

Range of Values:

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Average Value
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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
Mark Ii Apartments Lp $3,110,000 Chicago Title Company Commer
Harmon Brian W -- Accommodation
Hamilton Capital Investments Llc -- None Available
Harmon Brian W -- First American Title Company
Hamilton Capital Investments Llc -- None Available
Harmon Brian W -- Southland Title Corporation
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Mark Ii Apartments Lp $250,000
Previous Owner Harmon Brian W $1,805,000
Previous Owner Harmon Brian W $1,610,000
Previous Owner Harmon Brian W $350,000
Previous Owner Harmon Brian W $1,347,500
Previous Owner Harmon Brian W $1,347,500
Previous Owner Harmon Brian W $1,347,500
Previous Owner Harmon Brian W $958,400
Previous Owner Sacks Phd William H $500,000
Closed Harmon Brian W $119,800
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
01/22/2019 01/22/19 Sold $3,110,000 -1.3% $757 / Sq Ft
12/01/2018 12/01/18 Pending -- -- --
08/19/2018 08/19/18 Price Changed $3,150,000 -6.0% $767 / Sq Ft
07/24/2018 07/24/18 For Sale $3,350,000 -- $816 / Sq Ft
Source: The MLS

Tax History Compared to Growth

Source: Public Records

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 $40,386 $3,469,259 $2,788,796 $680,463
2024 $40,386 $3,401,235 $2,734,114 $667,121
2023 $39,744 $3,334,545 $2,680,504 $654,041
2022 $39,265 $3,269,163 $2,627,946 $641,217
2021 $38,316 $3,205,063 $2,576,418 $628,645
2019 $37,683 $3,110,000 $2,500,000 $610,000
2018 $17,856 $1,496,975 $999,651 $497,324
2016 $17,179 $1,438,847 $960,834 $478,013
2015 $16,957 $1,417,235 $946,402 $470,833
2014 $16,735 $1,389,475 $927,864 $461,611
Source: Public Records

Agents Affiliated with this Home

  • Susan Marfleet

    Seller's Agent in 2019

    Susan Marfleet

    Keller Williams Beverly Hills

    (310) 623-2177

    9 Total Sales

    Susan Marfleet
    Section Image

  • J

    Buyer's Agent in 2019

    John Ravenna

    Compass

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Map

Source: The MLS

MLS Number: 18-368330

The MLS

APN: 4287-030-005

California Los Angeles County Santa Monica 90405 Ocean Park

722 Pier Ave, Santa Monica, CA

This home is located at 722 Pier Ave, Santa Monica, CA 90405 since 24 July 2018 and is currently estimated at $4,100,216, approximately $998 per square foot. This property was built in 1963. 722 Pier Ave is a home located in Los Angeles County with nearby schools including John Muir Elementary School, John Adams Middle School, and Santa Monica High School.

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

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