Ocean Santa Monica 901 Ocean Ave 28 Unit Apartment Building $41,018,880 CAD ($1,464,960 CAD/Unit) 4.40% Cap Rate Santa Monica, CA 90403

McKinney Multifamily Group of Lyon Stahl Investment Real Estate, is pleased to present for sale OCEAN SANTA MONICA APARTMENTS, 901 Ocean Avenue, Santa Monica, California. Ocean Santa Monica Apartments is a pride of ownership asset offering luxurious modern living. This contemporary 28-unit apartment building is positioned to enjoy stunning views of the Santa Monica beaches and sunsets over the Pacific Ocean. Located on Ocean Avenues Golden Mile, in the Wilshire Montana Neighborhood of Santa Monica, this enviable location, just east of Santa Monica Beach is within close proximity to enjoy the best lifestyle amenities that Santa Monica has to offer such as Santa Monica & Malibu beaches, the Santa Monica Pier, Ocean Avenue dining, the 3rd Street Promenade, Montana Avenue shops, and Palisades Park.
Unique to 901 Ocean Avenue is the property’s location directly across the street from one of the few beach access paths, and one block south of Montana Avenue and its collection of over 150 shops and cafes. Some residents have picked Ocean Santa Monica based on its coveted location.
Built in 1961, and renovated in 2015 and 2021/2022, the Property is comprised of one three-story courtyard style building featuring high-end interior and exterior finishes. The desirable unit mix of (18) one-bedroom units, and (10) two-bedroom, two-bath units. The community is well appointed and includes an attractive lobby with designer finishes, elevator, heated pool with lounge area and built-in BBQ, rooftop sundeck with spectacular ocean views, a community outdoor lounge and well-manicured landscaping. Additionally, the property provides a controlled access entry, subterranean gated parking, four electric vehicle charging stations, a bicycle parking area, one laundry room per floor, copper plumbing, updated electrical wiring, solar panels and is separately metered for electricity.
The spacious unit interiors contain high quality finishes and are equipped with expansive glass railing balconies (some with stunning ocean views), wood or bamboo flooring, recessed lighting, wall heating, mirrored closet doors, well-dressed kitchens & bathrooms with quarts, Caesarstone or granite countertops, kitchens include large farmhouse style sinks and stainless-steel appliances, dishwasher & disposal, bathrooms include soaking bathtub and shower, (microwaves are featured only in the penthouse units).
Ocean Santa Monica Apartments offers an investor the opportunity to own a pride of ownership apartment building in a highly coveted Southern California location. The long-term outlook for the West Los Angeles region is positive and is expected to retain its highly desirable reputation establishing the benchmark for the remainder of the region.: