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1008 2nd Street, Santa Monica, CA 90403$9,850,000

6
beds
8
baths
15600
ft2
· 7496
ft2 lot
$631 / ft2

Listing provided courtesy of Jonathan Taksa, Remax Commercial and Investmen
Source CRMLS;
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1008 2nd Street is an incredible asset in the heart of LAs famed beach City of Santa Monica. Originally built in 1969, the building boasts an ideal unit mix consisting of all large 1 & 2 bedroom units. Each of these units are extremely spacious, have a terrific floor plan, and offer an abundance of natural light.There is significant rental upside and on-site parking for 21 cars as well as an on-site laundry facility. The unit mix includes (1) 2-bed, 3-bath with a den unit, (4) 2-bed, 2-bath units, (5) 1-bed, 2 bath with a den units, and (4) 1-bed, 1 bath units. This is a fantastic trophy asset in an undeniably attractive location that will surely pay long-term dividends to a savvy investor.A quick walk to Third Street Promenade and the beach, this rare offering presents an astute investor with the unique opportunity to capitalize on higher market rents and to acquire a premier turnkey asset in one of the best rental locations in all of Los Angeles.

HOA

$0/month

On market

2 months

Year built

1969

Property type

Multi-Family

Parking

21

MLS

21794864

Price / Sq.Ft.

$631 / ft2

Status

Active

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Home details for 1008 2nd Street

Interior Features & Layout
Interior Size
•   
Building Area Total: 15600.00
Property, Lot, Community & Exterior Features
Parking Info
•   
Parking Available: 1
•   
Parking Features: Covered
Building Info
•   
Zoning: SMR3*
•   
Stories Total: 3
Lot Info
•   
Lot Size Source: Assessor
•   
Lot Size Acres: 0.1721
•   
Lot Size Area: 7496.0000
•   
Lot Size Units: Square Feet
Community Info
•   
Number Of Buildings: 1
•   
Total Units: 14
Listing Details, Costs & Financing Information
Financial Info
•   
Gross Operating Income: 488285.00
•   
Total Expenses: 187066.00
•   
Gross Multiplier: 19.69
•   
Rent Control Yn: 1
Tax/Assessment Info
•   
Gross Income: 500169.00
•   
Tax Year: 2020
•   
Taxes: 82790.45
Lease Info
•   
Net Operating Income: 301220.00
Listing Info
•   
Status: Active
Multi Unit Information
Unit 3 Information
•   
Unit 3 Bedrooms: 2
•   
Unit 3 Actual Rent: 3441.00
•   
Unit 3 Total Units: 4
•   
Unit 3 Furnished Units: Unfurnished
•   
Unit 3 Bathrooms: 2
•   
Unit 3 Total Rent: 13766.00
Unit 2 Information
•   
Unit 2 Actual Rent: 2903.00
•   
Unit 2 Bedrooms: 1
•   
Unit 2 Total Units: 5
•   
Unit 2 Furnished Units: Unfurnished
•   
Unit 2 Bathrooms: 2
•   
Unit 2 Total Rent: 14513.00
Unit 1 Information
•   
Unit 1 Bedrooms: 1
•   
Unit 1 Total Units: 4
•   
Unit 1 Furnished Units: Unfurnished
•   
Unit 1 Bathrooms: 1
•   
Unit 1 Actual Rent: 2215.00
•   
Unit 1 Total Rent: 8860.00
Unit 4 Information
•   
Unit 4 Actual Rent: 4542.00
•   
Unit 4 Total Units: 1
•   
Unit 4 Furnished Units: Unfurnished
•   
Unit 4 Total Rent: 4542.00
•   
Unit 4 Bathrooms: 3
•   
Unit 4 Bedrooms: 2
Multi Unit Information
•   
# Of Units: 13
School Neighborhood & Directions
School Info
•   
Directions: 1 block East of Ocean Avenue, in between California Avenue and Washington Avenue
Other
Calculation
•   
Dom: 8

Neighborhood snapshot

46
Properties for sale
16
Median days on market
$954.51
Median sold price/sqft
101.30%
Sold/List %
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Property History for 1008 2nd Street

10/13/2021
10/13/2021
CRMLS #21794864
active
CRMLS #21794864
$9,850,000
+56.97%
02/27/2015
02/27/2015
Public Record
sold
Public Record
$6,275,000

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