NOT LISTED FOR SALE
14 Beds
16 Baths
9,878 Sq Ft
8,024 Sq Ft Lot

Last Sold June 05, 2023

Last sale price $3,900,000 $395 Per Sq Ft

198 Days on Market

Highlights

  • Lawn
  • Cooling System Mounted To A Wall/Window
  • Forced Air Heating and Cooling System
  • Franklin Elementary School Rated A+
  • Laundry Room

About This Home

As of June 2023

Amazing location and great investment opportunity! One SFR, TWO townhouses and THREE apartment units!! This 6-unit multifamily property is conveniently located near Santa Monica's coastal community, Santa Monica College, and close to the Metro Expo Line and Third Street Promenade! Brand new outside paint! Perfectly centered to accommodate the long-term demand for housing the workforce in the tech economy as well as the returning students to the renowned Santa Monica College. Units have been upgraded and well maintained throughout the years. These units are much bigger than the typical SM apartments. 5 garage spaces in back for 5 of the units as well as a private 2 car garage and driveway for the HUGE Single-Family, 3 bedroom/3 bathroom front residence! Front home also has an extra living space right off of the garage which includes an additional bathroom and kitchen! Front house gets beautiful views from their private sun deck. So many perks to this fantastic opportunity. Call me for more info.

Last Agent to Sell the Property

Amanda Rodriguez

BHHS CA Properties License #01450225 Listed on: 10/08/2022

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1971

Lot Details

  • 8,024 Sq Ft Lot
  • Two or More Common Walls
  • Lawn

Parking

  • 2 Open Parking Spaces
  • 7 Car Garage

Home Design

  • Apartment

Interior Spaces

  • 9,878 Sq Ft Home
  • 2-Story Property
  • Family Room with Fireplace
  • Laundry Room

Bedrooms and Bathrooms

  • 14 Bedrooms
  • 16 Bathrooms

Outdoor Features

  • Exterior Lighting

Utilities

  • Cooling System Mounted To A Wall/Window
  • Forced Air Heating and Cooling System

Listing and Financial Details

  • Legal Lot and Block 22 / 12
  • Tax Tract Number 1351
  • Assessor Parcel Number 4277012022

Community Details

Building Details

  • Rent Control
  • 1 Separate Electric Meter
  • 1 Separate Gas Meter
  • 1 Separate Water Meter
  • Electric Expense $977
  • Fuel Expense $1,276
  • Insurance Expense $4,372
  • Maintenance Expense $1,739
  • Supplies Expense $8,993
  • Trash Expense $1,200
  • Water Sewer Expense $3,722
  • New Taxes Expense $11,904
  • Operating Expense $34,444
  • Net Operating Income $182,128

Additional Features

  • 6 Units
  • Laundry Facilities

Property Details

Home Type

Multi-Family

Year Built

Built in 1971

Lot Details

0

Parking

7

Listing Details

  • CapRate: 3.79
  • Property Attached: Yes
  • Supplies Expense: 8993.00
  • Water Sewer Expenses: 3722.00
  • Zoning: SMR2*
  • Property Type: Residential Income
  • Parcel Number: 4277012022
  • Year Built: 1971
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Fireplace: Yes
  • Stories: 2
  • Common Walls: 2+ Common Walls
  • Fireplace Features: Family Room
  • Levels: Two, Three Or More
  • Price Per Square Foot: 394.82

Exterior Features

  • Pool Private: No

Garage/Parking

  • Garage Spaces: 7.00
  • Total Parking Spaces: 9.00
  • Uncovered Spaces: 2.00

Utilities

  • Heating: Yes
  • Laundry: Yes
  • Heating Type: Central, Forced Air
  • Laundry Features: Community
  • Sewer: Public Sewer
  • Trash Expense: 1200.00
  • Water Source: Public
  • Cooling: Central Air, Wall/Window Unit(s)
  • Cooling: Yes

Condo/Co-op/Association

  • Senior Community: No
  • Common Interest: Community Apartment
  • Community Features: Curbs, Sidewalks, Street Lights

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: Lawn
  • Lot Size Sq Ft: 8024.00
  • Lot Size Acres: 0.1842

Multi Family

  • Electric Expense: 977.00
  • Fuel Expense: 1276.00
  • Gross Scheduled Income: 261408.00
  • Insurance Expense: 4372.00
  • Lot Size Area: 8024.0000 Square Feet
  • Maintenance Expense: 1739.00
  • Net Operating Income: 182128.00
  • Number Of Separate Electric Meters: 1
  • Number Of Separate Gas Meters: 1
  • Number Of Separate Water Meters: 1
  • Number Of Units Total: 6
  • Operating Expense: 66516.00
  • Rent Control: Yes
  • Total Expenses: 34444.00

Tax Info

  • New Taxes Expense: 11904.00
  • Tax Block: 12
  • Tax Census Tract: 7012.02
  • Tax Lot: 22
  • Tax Tract Number: 1351
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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 List to Sale Price per Sq Ft
06/05/2023 06/05/23 Sold $3,900,000 -18.8% $395 / Sq Ft
04/24/2023 04/24/23 Pending -- -- --
04/12/2023 04/12/23 Price Changed $4,800,000 -5.9% $486 / Sq Ft
02/24/2023 02/24/23 Price Changed $5,100,000 -1.9% $516 / Sq Ft
11/12/2022 11/12/22 Price Changed $5,200,000 -3.7% $526 / Sq Ft
11/12/2022 11/12/22 For Sale $5,400,000 +38.5% $547 / Sq Ft
11/02/2022 11/02/22 Off Market $3,900,000 -- --
10/08/2022 10/08/22 For Sale $5,400,000 -- $547 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

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 $48,031 $4,057,560 $2,496,960 $1,560,600
2024 $48,031 $3,978,000 $2,448,000 $1,530,000
2023 $12,477 $890,910 $398,273 $492,637
2022 $12,310 $873,442 $390,464 $482,978
2021 $11,947 $856,316 $382,808 $473,508
2020 $11,862 $847,536 $378,883 $468,653
2019 $11,661 $830,918 $371,454 $459,464
2018 $10,922 $814,626 $364,171 $450,455
2017 $10,819 $798,654 $357,031 $441,623
2016 $10,373 $782,995 $350,031 $432,964
2015 $10,242 $771,235 $344,774 $426,461
2014 $10,151 $689,595 $338,021 $351,574
Source: Public Records

Agents Affiliated with this Home

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Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: DW22218559

California Regional Multiple Listing Service (CRMLS)