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1415 Centinela Avenue, Santa Monica, CA 90404
4
beds
3
baths
3904
ft2
· 7564
ft2 lot
$2,495,000
$639 / ft2
Listing provided courtesy of Ardy Ishal, BRC Advisors- BH.
Source CRMLS.
BRC Advisors -BH is proud to present for sale this value-add five-unit apartment property located at 1415 South Centinela Avenue, in Santa Monica, California. The property consists of three separate structures on one lot, consisting of an attractive unit mix with four (4) three-bedroom/two-bathroom units and a one-bedroom/one-bathroom unit. Situated on a 7,564 square foot lot, the property is located just south of Santa Monica Blvd. Three of the units have washer/dryers (see rent roll) and three units are currently vacant, allowing a buyer to immediately implement a renovation plan of those units and exterior areas to obtain maximum rents. Additionally, there are approximately seven onsite parking spaces and the units have separate water heaters, some of which are tankless. Upon renovating and renting the three vacant 3-bedroom units at the projected market rent of $3,795, a buyer will achieve a projected cap rate of 5.28% and a gross rent multiplier of only 13.0x!!!
HOA
$—/month
On market
5 months
Year built
1923
Property type
Multi-Family
Parking
MLS
20658892
Price / Sq.Ft.
$639 / ft2
Status
Active
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Based on a price of $2,495,000
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$12,475
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Property Details
Interior Features & Layout
Interior Size
•   
Building Area Total: 3904.00
Property, Lot, Community & Exterior Features
Lot Info
•   
Zoning: SMR2*
•   
Lot Size Acres: 0.1700
•   
Lot Size Area: 7564.0000
•   
Lot Size Units: Square Feet
Community Info
•   
Number Of Buildings: 3
•   
Total Units: 5
Listing Details, Costs & Financing Information
Financial Info
•   
Gross Operating Income: 192399.00
•   
Total Expenses: 54821.00
•   
Gross Multiplier: 13.00
Tax/Assessment Info
•   
Gross Income: 192399.00
•   
Tax Year: 2019
•   
Taxes: 18402.0
Lease Info
•   
Net Operating Income: 131836.00
Listing Info
•   
Status: Active
Multi Unit Information
Unit 2 Information
•   
Unit 2 Actual Rent: 2195.00
•   
Unit 2 Bedrooms: 1
•   
Unit 2 Total Units: 1
•   
Unit 2 Furnished Units: Unfurnished
•   
Unit 2 Bathrooms: 1
•   
Unit 2 Total Rent: 1524.00
Unit 1 Information
•   
Unit 1 Bedrooms: 3
•   
Unit 1 Total Units: 4
•   
Unit 1 Furnished Units: Unfurnished
•   
Unit 1 Bathrooms: 2
•   
Unit 1 Actual Rent: 3795.00
•   
Unit 1 Total Rent: 14429.00
Multi Unit Information
•   
# Of Units: 13
School Neighborhood & Directions
Location
•   
Directions: just south of Santa Monica Blvd.
Other
Calculation
•   
Dom: 56
•   
Cdom: 56
The information contained in this listing has not been verified by Flyhomes and should be verified by the buyer.

Data last updated: Apr 21, 2021 3:51am
Neighborhood snapshot
65
Properties for sale
38
Median days on market
$788.14
Median sold price/sqft
98.50%
Sold/List %
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Property History
01/14/2021
01/14/2021
CRMLS #20658892
active
CRMLS #20658892
$2,495,000
--4.04%
11/19/2020
11/19/2020
CRMLS #20658892
active
CRMLS #20658892
$2,600,000
+136.36%
02/28/2006
02/28/2006
Public Record
sold
Public Record
$1,100,000
+49.66%
03/29/2004
03/29/2004
Public Record
sold
Public Record
$735,000
+96.00%
07/13/2000
07/13/2000
Public Record
sold
Public Record
$375,000
+31.58%
See more property history
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