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1450 Franklin Street, Santa Monica, CA 90404$2,395,000
$1,011 / ft2
Listing provided courtesy of Stacey Valnes, VALNES BELL REALTORS
Santa Monica triplexes are exempt from SM rent control if a cottage is owner occupied by the owner or a relative. Maintain control over the entire property. This beautiful triplex sits on a large 7,800 square foot lot, consists of three home-like cottages each with large yards plus 3 separate garages + 1 guest open parking spot. Cottage A enjoys an awesome deck and a spacious wrap-a-round yard. Cottage C enjoys a spa, seating area, grass yard and direct access from the garage. B enjoys a nice front and rear private patio. Cottage A and C have remodeled kitchens and living areas with high ceilings opening to their private yards. Both include a garage. One garage is vacant and has a market rent of $350 per month. The current actual gross annual income is $139,860. All three cottages are currently rented. Incredible opportunity as an owner user or straight investment property. Live in a home-like cottage w/a private yard + a garage and let the rents pay the mortgage and property tax. In 15 years the mortgage can be paid in full while the 3 cottages generate a tremendous cash flow. This triplex is a wealth creator. Close to the Broadway Arts District, major studios, Bergamont Station, shopping and cool restaurants. Live to the fullest by enjoying Santa Monica's great lifestyle by owning this amazing home like income property.