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Listing 3 out of 142
$5,250,000 For Sale

1143 11th Street
Santa Monica, CA 90403

Residential Income
5,040 sq ft - MLS# 17260112
Property Photo
1/9

Description

Santa Monica Historical multifamily opportunity north of Wilshire. Enjoy beautiful architecture, cash flow and future upside with this ideally located Multifamily investment. Santa Monica has been rated one of the highest rental markets in the nation, combined with A-Plus locale makes this fantastic real estate to park your cash and watch it grow. One bedroom and studio units equate to less long term tenants common in Santa Monica rent controlled buildings. The interiors of the units are classic 1920s look and feel with tile and hardwood floors and counters for easy and low cost turn-around for new tenants. Added benefit for the new owner would be to apply for the Mills Act to reduce your property tax as well as other incentives to further your return on investment. See assessor and city to verify all building data. Marketing package included under documents with full rent roll. Rent roll includes September 2017 rent increases.

Features

  • Property Type: Residential Income
  • Sub Type: Apartment Building
  • Listing Status: Active
  • Listing Price: $5,250,000
  • County/Area: Los Angeles County
  • Zip Code: 90403
  • Year Built: 1938
  • Subdivision/Neighborhood: Santa Monica (C14)
  • Sq.Ft.: 5,040 sq ft
  • Stories: 2
  • # of Parking Spaces: 1
  • Zoning: SMR2*
  • Adjusted Gross Income: 263124.00
  • Agent License Number: 01090251
  • Appliances: Refrigerator
  • City Code: 10000054288
  • Cooling Type: Wall Unit(s)
  • Expense Total Annual: 102422.00
  • Gross Operating Income: 255230.00
  • Gross Rent Multiplier: 19.95
  • Heating Type: Wall Heater
  • Lot Size SQ FT: 7512
  • Lot Size Source: Public Records
  • Net Operating Income: 152808.00
  • Number Of Buildings: 2
  • Parking Type: Carport
  • Square Footage Source: Public Records
  • Status: Active
  • Unit Furnished01: Unfurnished
  • Unit Furnished02: Unfurnished
  • Unit Furnished03: Partially
  • Unit Furnished04: Partially
  • Unit Furnished05: Partially
  • Unit Furnished06: Partially
  • Unit Furnished07: Partially
  • Unit Furnished08: Partially
  • Unit Furnished09: Partially
  • Unit Furnished10: Partially
  • Unit Furnished11: Partially
  • Unit Furnished12: Partially
  • Unit Furnished13: Partially
  • Unit Monthly Rent01: 2000.00
  • Unit Monthly Rent02: 1500.00
  • Unit Number Of Bath01: 1.0
  • Unit Number Of Bath02: 1.0
  • Unit Number Of Bed01: 1
  • Units In Complex: 11
Courtesy of Concord Real Estate Service, Kenny Stevens (CalBRE: 01090251)


Based on information from CARETS as of 2017-08-21 10:29:47. The information being provided by CARETS is for the visitor's personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CARETS, CLAW, CRISNet MLS, i-Tech MLS, PSRMLS and/or VCRDS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Any property information referenced on this website comes from the Internet Data Exchange (IDX) program of CRISNet MLS and/or CARETS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.

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Tom Swanson
Exclusive Realty, Inc.
2945 Westwood Blvd
Los Angeles, CA 90064
Phone: 310-702-8559
Email: ThomaseSwanson@gmail.com

Testimonials

Tom Swanson represented me in a very successful real estate purchase last year. Tom paid close attention to my property selection criteria and saved me a great deal of time by only sharing listings that met my criteria. Once we found the desired property, Tom moved quickly to submit my offer, facilitate removal of contingencies, negotiate terms and concessions, and ultimately close the deal for under asking price. I have referred Tom to several family and friends and have engaged him to assist me with the pursuit of my next real estate purchase mitchnahass
Tom is not only a leader to his agents and an amazing professional. He is the kind of person who changes the face of Real Estate by his kindness, his courtesy and his entrepreneurial spirit. He always finds time to make himself available when you need him. Anaik Levy
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