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1826-1832 California Ave 4 Unit Apartment Building $3,813,694 CAD ($953,424 CAD/Unit) Santa Monica, CA 90403
Executive Summary
Investor's Dream! North of Wilshire. Close to all things Santa Monica: the shops, medical centers, University of Santa Monica, the beach, etc. Convenient and walkable. Offered at $2,695,000.
The property will be delivered with three vacant units (75% of the property), offering a path for additional renovation and expansion OR they could be immediately leased up at market rents (we have been holding people at bay who have been contacting us about renting the units). We can walk you through the 4th and final unit... The patio area between the two buildings is begging to be updated into a new awesome space. 5 car garage on the alleyway. Possible ADUs.
With current pro-forma market rates for these units, the property would be in the ~5 CAP range. With further updates and pro-forma market rate of the 4th unit, even higher.
Built in 1938, the property consists of three one-bedroom, one-bathroom units AND one two-bedroom, one-bathroom unit totaling close to 3,000 SF on a 7,998 SF corner lot. One unit (1828) has been fully upgraded.
The property will be delivered with three vacant units (75% of the property), offering a path for additional renovation and expansion OR they could be immediately leased up at market rents (we have been holding people at bay who have been contacting us about renting the units). We can walk you through the 4th and final unit... The patio area between the two buildings is begging to be updated into a new awesome space. 5 car garage on the alleyway. Possible ADUs.
With current pro-forma market rates for these units, the property would be in the ~5 CAP range. With further updates and pro-forma market rate of the 4th unit, even higher.
Built in 1938, the property consists of three one-bedroom, one-bathroom units AND one two-bedroom, one-bathroom unit totaling close to 3,000 SF on a 7,998 SF corner lot. One unit (1828) has been fully upgraded.
Property Facts
| Price | $3,813,694 CAD | Building Class | C |
| Price Per Unit | $953,424 CAD | Lot Size | 0.18 AC |
| Sale Type | Investment | Building Size | 4,124 SF |
| No. Units | 4 | Average Occupancy | 25% |
| Property Type | Multifamily | No. Stories | 1 |
| Property Subtype | Apartment | Year Built | 1938 |
| Apartment Style | Garden | Parking Ratio | 1.21/1,000 SF |
| Zoning | SMR2* | ||
| Price | $3,813,694 CAD |
| Price Per Unit | $953,424 CAD |
| Sale Type | Investment |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 0.18 AC |
| Building Size | 4,124 SF |
| Average Occupancy | 25% |
| No. Stories | 1 |
| Year Built | 1938 |
| Parking Ratio | 1.21/1,000 SF |
| Zoning | SMR2* |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 3 | - | - |
| 2+1 | 1 | - | - |
1 1
Very walkable
80/100
Moderately drivable
70/100
Good public transit
60/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 4276-009-010 | Improvements Assessment | $433,021 CAD |
| Land Assessment | $2,230,056 CAD | Total Assessment | $2,663,077 CAD |
Property Taxes
Parcel Number
4276-009-010
Land Assessment
$2,230,056 CAD
Improvements Assessment
$433,021 CAD
Total Assessment
$2,663,077 CAD
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Sunset Palm Properties LLC
1826-1832 California Ave
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