724 Ashland Ave, Santa Monica, CA, 90405
Year One 4.76% Cap Rate!! We present a modern fully renovated quadruplex conveniently located in prime Santa Monica, one of the highest demand apartment rental markets in the county. Built in 1956 and repositioned in 2019/2020, the complex offers and incredible unit mix of three newly complete 3bed/2/bath units and one 2bed/1bath unit (delivered vacant after escrow, convertible to a 3bed/3bath like others). Designed by architect Michael Tersigni, each tailored home features wide plan white oak flooring, expansive windows, and custom LED lighting. Each kitchen is outfitted with Ceaserstone counters, Bertazzoni appliances, including dishwasher, and Moen hardware. Baths feature Duravit deep soaking tubs and rain showers. The property features a large patio/common area and ample parking and storage for all units. This meticulously maintained four-plex presents a rare opportunity for an investor to acquire a remodeled asset and finish the final unit to achieve a ~5.15% Cap Rate.
724 Ashland Ave