Listed by Cameron Samimi, Lyon Stahl Investment Real Estate, Inc.,

2103 3rd Street

Santa Monica, CA, 90405

$7,000,000

$568 per ft²
$7,000,000
$568 per ft²
Active
Active
 - For Sale
carpenters-square
12,321 ft²
property_type
Multi-family
calendar
Built 1905
One of the most architecturally unique buildings in all of Santa Monica! 2103 3rd St is a 16-unit asset located in the beautiful Santa Monica submarket, Ocean Park. The subject property is legally 15 units and has one nonconforming studio unit. This "A+" location, with great curb appeal, is located just minutes from the beach! This 16 value-add deal has over 30% upside in rents, once units are rented for the market. 7 units will be delivered tenant-ready offering immediate upside! 2103 3rd St has a great unit mix of (9) 1-Bd/1-Ba, (4) 2- Bd/1-Ba & (3) Studio units. These spacious units feature hardwood flooring and high ceilings. There are also 20 onsite parking spots for tenants, some being covered parking. There is also a laundry room onsite. There is still plenty of room to increase the rents and achieve a 6.34% Market CAP and 11.55 GRM. The subject property is only minutes away from millions of dollars in development, including Third Street Promenade, Santa Monica Airport, Miramar Hotel, and multiple mixeduse projects. This value-add property is an ideal pickup for any investor looking for a trophy asset with plenty of upside, in an A+ location.
MLS® ID:
SB22152092
Listed:
7/10/22
Updated:
9/29/22

Interior Features

Total Bedrooms
0
Total Bathrooms
0
Laundry Description
Common Area

Exterior/Building Features

Lot Size
0.29 acres lot
Lot Details
0-1 Unit/Acre
Sewer
Public Sewer

Other Property Details

Area Name
C14 - Santa Monica
HOA Amenities
Curbs, Golf, Hiking, Urban
Garage
Yes
Garage Spaces
2
Parking
Y
Parking Total
20.0
View
N
County
Los Angeles
Water Source
Public
Pool
No
Pool Description
None
Zoning
SMOP2*

 

Listed by Cameron Samimi, Lyon Stahl Investment Real Estate, Inc.,

Based on information from California Regional Multiple Listing Service, Inc. as of 9/29/22. 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.

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Data last updated 9:12 PM UTC, 9/29/22

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