2620 11Th Street

  • Santa Monica

  • $6,389,000
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Residential Income Details

Description
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!
Essential
MLS #18372682
Price$6,389,000
Number of Units16
Sale TypeStandard
StatusActive
Listing BrokerageElijah Korobkin
Listing AgentZachary Grant
Listing Agent BRE #02046001
Interior
CoolingSee Remarks
Exterior
ParkingOther
Community
AreaC14 - Santa Monica
Address2620 11Th Street
CitySanta Monica
CountyLos Angeles
StateCA
ZipCode90405
School

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Based on information from California Regional Multiple Listing Service, Inc. as of Tuesday, August 14, 2018. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.