Description
Situated in the picturesque ocean park neighborhood of santa monica, 2306 3rd street stands as a rare gem for investors seeking a prestigious addition to their portfolio. sitting on a double lot, this legacy 12-unit property features an eclectic mix of residential options, including (1) 4-unit building, (1) duplex, (1) single-family residence with an attached studio, and (4) detached bungalows. with a unit mix of (3) 2-bed/1-bath, (8) 1-bed/1-bath, and (1) studio, the property offers a total of 7,937 square feet of rentable space on a generous 12,703 square foot lot.
boasting a 4.47% cap rate and a market cap rate of 6.67%, the investment potential is substantial. residents enjoy the perfect blend of comfort and convenience, enhanced by the property's prime location. positioned just blocks from the beach and within walking distance of top-tier retail and restaurants, 2306 3rd street benefits from its enviable location between venice beach and downtown santa monica.
whether you're seeking steady returns or aiming to capitalize on the area's dynamic growth, this property represents a compelling opportunity in coveted location.
Property Type
Residential IncomeCounty
Los AngelesStyle
Residential IncomeAD ID
46502513
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Property Details
-
Interior Features
Water/Sewer
- Water Source : Public
- Sewer : Public Sewer
Interior Features
- Fireplace: None
Cooling Features
- None
- Air Conditioning
Heating Source
- None
- Has Heating
Fireplace
- Fireplace Features: None
- Has Fireplace: 0
-
Exterior Features
Building Information
- Year Built: 1924
- Building Area Total: 7,937
Pool Features
- None
Laundry Features
- Common Area
-
Property / Lot Details
Lot Details
- Lot Dimensions Source: Vendor Enhanced
- Lot Size Acres: 0.1428
- Lot Size Source: Assessor
- Lot Size Square Feet: 6219
-
Listing Information
Listing Price Information
- Original List Price: 4,750,000
- Listing Contract Date: 2024-07-29
Lease Information
- Listing Agreement: Exclusive Right To Sell
-
Taxes / Assessments
Tax Information
- Parcel Number: 4289015012
-
Virtual Tour, Parking, Multi-Unit Information & Homeowners Association
Garage and Parking
Homeowners Association
Rental Info
- Lease Term: Negotiable
-
School, Utilities & Location Details
Other Property Info
- Source Listing Status: Active
- Source Neighborhood: C14 - Santa Monica
- Postal Code Plus 4: 3411
- Directions: Double Lot on the corner of 3rd Street and the Strand
- Zoning: SMOP2*
- Source Property Type: Residential Income
- Area: C14 - Santa Monica
- Property SubType: Mixed Use
Building and Construction
- Property Age: 100
- Common Walls: 2+ Common Walls
- Structure Type: Mixed Use
- Year Built Source: Assessor
- Entry Level: 1
- Entry Location: 1
- Property Attached: Yes
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BuyOwner last updated this listing 12/22/2024 @ 17:13
- MLS: SB24155287
- LISTING PROVIDED COURTESY OF: ,
- SOURCE: CRMLS
is a Home, with 0 bedrooms which is for sale, it has 7,937 sqft, 6,219 sized lot, and 0 parking. A comparable Home, has bedrooms and baths, it was built in and is located at and for sale by its owner at . This home is located in the city of Santa Monica , in zip code 90405, this Los Angeles County Home are nearby neighborhoods.