10604 Santa Monica,  West Los Angeles CA, 90025 (Residential Income)

6,500 sqft
Status: Active
MLS#: SR16177634
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Last Updated: 12/3/2016 11:59 PM
Description for 10604 Santa Monica West Los Angeles, CA 90025
The Little Inn is operating as a 15 unit motel located in the prime West Los Angeles area, within walking distance to Westwood Blvd, Mormon Temple, and Century City Shopping Mall. Near UCLA hospital and Beverly Hills. Lot size is 9400 square ft Commercial C-2 Zoning with 98 feet of frontage on "the Little" Santa Monica Blvd. There are 5 two-room suites with kitchens. Six upstairs rooms with showers. Downstairs rooms are handicapped accessible with shower over bathtubs; only one room has a handicap compliant bathroom. All rooms have window air-condition units. The courtyard is paved with cobble stone concrete. The building was renovated in 1993 with a New Certificate of Occupancy with approved 16 tandem parking and a 14-unit Apartment Hotel with one handicapped unit. If the operation changes to an Apartment Building, the Gross Multiplier is estimated at 20. The Buyer has to estimate the income based on his own plan of operation. Great for Mixed-Use development. Ideal for renovation as a SECURITY boutique hotel with no lobby as an alternative to luxury hotels in the area. Subject to Buyers cooperation in IRS 1031 Exchange within a 60-day escrow. Sold on the basis of "AS-IS, WHERE-IS". Buyer and Buyer's agent to verify all information.
Price
$5,188,888
Los Angeles
6,500 (approx)
SR16177634
Active
Description
The Little Inn is operating as a 15 unit motel located in the prime West Los Angeles area, within walking distance to Westwood Blvd, Mormon Temple, and Century City Shopping Mall. Near UCLA hospital and Beverly Hills. Lot size is 9400 square ft Commercial C-2 Zoning with 98 feet of frontage on "the Little" Santa Monica Blvd. There are 5 two-room suites with kitchens. Six upstairs rooms with showers. Downstairs rooms are handicapped accessible with shower over bathtubs; only one room has a handicap compliant bathroom. All rooms have window air-condition units. The courtyard is paved with cobble stone concrete. The building was renovated in 1993 with a New Certificate of Occupancy with approved 16 tandem parking and a 14-unit Apartment Hotel with one handicapped unit. If the operation changes to an Apartment Building, the Gross Multiplier is estimated at 20. The Buyer has to estimate the income based on his own plan of operation. Great for Mixed-Use development. Ideal for renovation as a SECURITY boutique hotel with no lobby as an alternative to luxury hotels in the area. Subject to Buyers cooperation in IRS 1031 Exchange within a 60-day escrow. Sold on the basis of "AS-IS, WHERE-IS". Buyer and Buyer's agent to verify all information.
Listing Information
Property Type: Cluster, 2 Story
0.21 Acres 940,000 sq.ft. 6,500 (approx)
$798.29 1947
Yes- 16 spaces 2
Stucco
2 Total
Neighborhood
Room Information
Common
Kitchenette
Bathtub, Shower
Interior Features
Window/Wall Unit
Heat Pump
Exterior / Lot Features
16 Garage Spaces, 32 Parking Spaces, Handicap Parking, Unassigned, Carport, Attached Carport
Stucco
Composition
None
No Pool
Street Lights, Rain Gutters, Urban
Driving Directions
Between Overland Ave and Beverly Glen Blvd across from Atria Building Cross Streets: Prosser Ave
Financial Considerations
4321003035
$380,000 Income ,$150,000Expense
Listing Price History

West Los Angeles Real Estate

West Los Angeles is located in California. West Los Angeles, California 90025 has a population of 1,902,251.

The median household income in West Los Angeles, California 90025 is $49,745. The median household income for the surrounding county is $56,241 compared to the national median of $53,046. The median age of people living in West Los Angeles 90025 is 34.1 years.

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Courtesy: The Real Estate Source Michael Weber
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