Residential Income Details
We are excited to present this 16-Unit apartment building, (with 10 units being delivered VACANT) The Village at 2620 11th Street, conveniently located in the coveted Ocean Park neighborhood of Santa Monica, one of the highest-demand apartment rental markets in the country. The property was built in 1947, featuring ample parking garages & storage lockers. There are 11 one car garages, 5 reserved parking spaces and 5 large storage lockers offering significant additional income. The building is priced at an attractive 5.42% cap rate (once the vacancies are renovated and leased). Additionally, the property features +/-21% rental upside upon unit turnover. This property appeals to savvy investors as well as collectors of trophy assets. The property is walking distance to Gelson's on Lincoln, as well as a number of popular restaurants including Shaka Shack Burgers, Sunny Blue, Library Ale House, Herringbone and much more!
|Number of Units||16|
|Listing Brokerage||Elijah Korobkin|
|Listing Agent||Zachary Grant|
|Listing Agent BRE #||02046001|
Based on information from California Regional Multiple Listing Service, Inc. as of Tuesday, August 14, 2018.
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