2417 2ND Street,  Santa Monica CA, 90405 (Residential Income)

1,636 sqft
Status: Sold
MLS#: 15822845
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Last Updated: 12/6/2016 3:18 PM
Description for 2417 2ND Street Santa Monica, CA 90405
2411 & 2417 2nd Street sold together as one sale for $4,065,000 or $2,032,500 for each one. value for one of the BEST INVESTMENT OPPORTUNITIES in Santa Monica! Currently at a 4% cap rate return on current rents w/ SIGNIFICANT UPSIDE POTENTIAL. Perfectly situated a few blocks from the beach & just off Main Street in Santa Monica. A serene courtyard community w/ 4 charming beach bungalows in outstanding condition. The lushly landscaped courtyard contains 4 detached single story bungalow style homes that have been restored & upgraded to retain their charm. One of the best opportunities in the neighborhood in comparison to recent comps selling far below a 4% cap rate. This represents a rare chance to acquire a value add investment w/ a stabilized, on-market cap rate in the mid to high 5% range.
Price
Sold Price:
$2,032,500
Sold Date:07/13/2015
Los Angeles
1,636 (approx)
15822845
Closed
Description
2411 & 2417 2nd Street sold together as one sale for $4,065,000 or $2,032,500 for each one. value for one of the BEST INVESTMENT OPPORTUNITIES in Santa Monica! Currently at a 4% cap rate return on current rents w/ SIGNIFICANT UPSIDE POTENTIAL. Perfectly situated a few blocks from the beach & just off Main Street in Santa Monica. A serene courtyard community w/ 4 charming beach bungalows in outstanding condition. The lushly landscaped courtyard contains 4 detached single story bungalow style homes that have been restored & upgraded to retain their charm. One of the best opportunities in the neighborhood in comparison to recent comps selling far below a 4% cap rate. This represents a rare chance to acquire a value add investment w/ a stabilized, on-market cap rate in the mid to high 5% range.
Listing Information
Property Type: Cluster, Other
0.11 Acres 4,925 sq.ft. 1,636 (approx)
$1,242.36 1922
4 Total
Neighborhood
Room Information
Exterior / Lot Features
None
No Pool
SMOP2*
Driving Directions
West of 4th Street, East of Neilson Way, South of Pico Blvd, North of Ocean Park Blvd
Financial Considerations
4287009008
,$38,776
Listing Price History

Santa Monica Real Estate

Santa Monica is located in California. Santa Monica, California 90405 has a population of 90,008.

The median household income in Santa Monica, California 90405 is $72,271. 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 Santa Monica 90405 is 40.2 years.

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Courtesy: Halton Pardee and Partners, In Tamra (Tami) Pardee
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