Listed By Lyon Stahl Investment Real Estate, Inc., David Messiah
1047 OCEAN PARK BLVD Santa Monica, CA 90405
$2,875,000
—
Bedrooms
—
Total Baths
—
Full Baths
5,296
Square Feet
0.15
Acres
1947
Year Built
Active
Status
MLS#
24-358301
1047 Ocean Park Blvd is a 5,296-square-foot, seven-unit apartment building located in the Ocean Park Submarket in the City of Santa Monica. Situated on a 6,617-sf corner lot, the property contains a highly desirable unit mix of (five) 2-bedroom/1-bathroom units and (two) studio units, while (one) 2-bedroom/1-bathroom unit is a spacious townhome. The property was retrofitted within the last two years; foundational work was completed in 2023, and a new concrete driveway was installed in November 2022. Furthermore, there are a total of ten parking spaces with four additional tandem spots. 1047 Ocean Park Blvd provides an investor with the opportunity to own a trophy asset in a desirable pocket of Santa Monica! The asset has a value-add component with approximately 42% in rental upside and a 6.50% pro-forma cap rate and 11.07 pro-forma GRM!
Details for 1047 OCEAN PARK BLVD
Price per square foot and days on website are not provided values and are calculated by RE/MAX.
Listing Office Lyon Stahl Investment Real Estate, Inc., 310-425-9838
MLS# 24-358301
Updated 11:56AM - 4/29/2024
Listing Agent David Messiah, 310-561-2384
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