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Sally Lee
marketing@thewhipplegroup.com$ 3,600,000
Est. payment | /mo
7 Beds
7 Baths
5,560 SqFt
$ 3,600,000
Est. payment | /mo
7 Beds
7 Baths
5,560 SqFt
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 5,560 sqft
Price per Sqft $647
MLS Listing ID 24473231
Bedrooms 7
HOA Y/N No
Year Built 1926
Lot Size 7,501 Sqft
Property Description
Over 5% CAP and stabilized 7 unit apartment building at 902 16th St. apartment is located in a prime Santa Monica neighborhood just one block south of Montana Ave., known for its upscale shopping and dining offering a charming and sophisticated atmosphere close to the beach. Carefully cared for and meticulously managed, this building features bright units with abundant windows and spacious balconies in some units. New roof was also installed this year to the middle structure. Exterior landscaping includes fruit trees and flower beds lining in the front and backyard. Comprising three distinct buildings, the property includes:* Building #1- facing 16th Street with four units: 902A & 904A on the ground floor, and 902B & 904B upstairs. Each floor shares a washer/dryer set between two units.* Building #2- standalone one-bedroom house at 1522 Idaho Ave, facing Idaho Ave.* Building #3- Two one-bedroom units situated above five garages facing Idaho Ave. 3 Units on Idaho Ave share a laundry room. This trophy property weathered the pandemic rental market downturn and historically has experienced low vacancy and fast turnovers. It offers a rare blend of prime location and sound investment, ideal for discerning buyers looking to invest in a well-maintained asset with steady rental income.
Location
State CA
County Los Angeles
Area C14 - Santa Monica
Zoning SMR2*
Interior
Heating Wall Furnace
Fireplace No
Laundry Common Area, Inside, Laundry Room
Exterior
Pool None
Total Parking Spaces 5
Private Pool No
Building
Story 2
Entry Level One,Two
Water Public
Architectural Style See Remarks
Level or Stories One, Two
New Construction No
Others
Senior Community No
Tax ID 4281007001
Special Listing Condition Standard
Listed by Susan Lau • Coldwell Banker Realty
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Sally Lee
Marketing Director and Agent | License ID: 02122928