419 Hill Street,  Santa Monica CA, 90405 (Residential Income)

1,920 sqft
Status: Active
MLS#: 16170104
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Last Updated: 12/4/2016 9:27 AM
Description for 419 Hill Street Santa Monica, CA 90405
Currently operating as a 4 Unit Apartment building, the properties highest and best use would allow for 2 potential value-add development additions (Buyer to investigate with the city). To be delivered with 2 vacant units. Unit mix consists of (4) 1 Bed/1 Bath units and one unit has a covered patio that has been functioning as a 2nd bedroom. Each unit includes hardwood floors, tiled bathrooms, fireplaces, and in unit washer/dryer. The front units have covered patios, while one rear unit features a private backyard. An investor could continue to operate the property as 4 units and capitalize on 14% rental upside by modernizing the units. Further development potential may exist to add a 2nd Floor addition to each of the 4 units or to maximize the properties potential as a first class Owner User income property. With the new upstairs space there is a potential for ocean views and the new 2-story owners suite would be approximately 1,920 SF while leaving 3 units to generate income.
Price
$2,800,000
Los Angeles
1,920 (approx)
16170104
Active
Description
Currently operating as a 4 Unit Apartment building, the properties highest and best use would allow for 2 potential value-add development additions (Buyer to investigate with the city). To be delivered with 2 vacant units. Unit mix consists of (4) 1 Bed/1 Bath units and one unit has a covered patio that has been functioning as a 2nd bedroom. Each unit includes hardwood floors, tiled bathrooms, fireplaces, and in unit washer/dryer. The front units have covered patios, while one rear unit features a private backyard. An investor could continue to operate the property as 4 units and capitalize on 14% rental upside by modernizing the units. Further development potential may exist to add a 2nd Floor addition to each of the 4 units or to maximize the properties potential as a first class Owner User income property. With the new upstairs space there is a potential for ocean views and the new 2-story owners suite would be approximately 1,920 SF while leaving 3 units to generate income.
Listing Information
Property Type: Cluster, Other
0.11 Acres 481,000 sq.ft. 1,920 (approx)
$1,458.33 1965
4 Total
Neighborhood
Room Information
Interior Features
Garbage Disposal, Refrigerator, Dishwasher, Washer, Dryer
None
Exterior / Lot Features
SMOP2*
Driving Directions
Take Ocean Park Blvd West from Lincoln Blvd. Turn Left on 5th Street and Right on Hill St. The property will be on the Right Hand side.
Financial Considerations
4287012004
,$41,348
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: Sperry Van Ness Daniel Baird
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Information is deemed reliable but is not guaranteed.

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