2626 Cloverfield Boulevard

Santa Monica, CA 90405

  • 11 Bed(s)
  • 0 Bath(s)
  • 5,948 Sqft
  • 6046
    Sqft(Lot)
$4,995,000

Description

Huge 650k price reduction & now 100% occupied! 12 unit building with 10 fully renovated units in prime santa monica cash flowing at an incredible current cap rate of 5.8% and 12.6 grm from day 1! priced at only 416k/door for renovated units with an amazing upside to 6.7% cap rate and 11.2 grm on the proforma. delivered with 10 fully renovated units with permits including 8 remodeled units plus 2 brand-new attached adus. these units have been completely renovated with permits (100% occupied) and boast a high-end aesthetic with new modern cabinets, flooring, recessed lighting, new bathrooms, stainless steel appliances, washer/dryer inside, as well as major exterior capital improvements. notably, there are preliminary plans for 2 additional detached adus over the open parking lot in the back that offer exceptional future upside potential. the property is located in the heart of santa monica just minutes away from the beach and within close proximity to santa monica business park as well as hip neighborhood attractions, restaurants, bars, and shops such as layla bagels, local kitchen & wine bar, estate coffee, and many more popping up all around the area.

  • Property Type

    Residential Income

  • County

    Los Angeles

  • Style

    Residential Income

  • AD ID

    47658715

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Property Details

  • Bedroom Information

    • Total Bedrooms : 11

    Bathroom Information

    • Total Baths: 12
    • Full Baths: 0
    • Half Baths: 0

    Interior Features

    • Property Appliances: Refrigerator

    Heating Source

    • Wall Furnace
    • Has Heating

  • Building Information

    • Year Built: 1966
    • Building Area Total: 5,948

  • Lot Details

    • Lot Dimensions Source: Vendor Enhanced
    • Lot Size Acres: 0.1388
    • Lot Size Source: Owner
    • Lot Size Square Feet: 6046

  • Listing Price Information

    • Original List Price: 4,995,000
    • Listing Contract Date: 2024-11-15

    Lease Information

    • Listing Agreement: Seller Reserved

  • Tax Information

    • Parcel Number: 4273012016

  • Garage and Parking

    • Garage Description: Uncovered

    Homeowners Association

    Rental Info

    • Lease Term: Negotiable

  • Other Property Info

    • Source Listing Status: Active
    • Source Neighborhood: C14 - Santa Monica
    • Postal Code Plus 4: 2841
    • Directions: Located on the North West Corner of Cloverfield Ave & Ocean Park
    • Zoning: SMR3*
    • Source Property Type: Residential Income
    • Area: C14 - Santa Monica

    Building and Construction

    • Property Age: 58
    • Year Built Source: Vendor Enhanced
    • Total Square Feet Living: 5948
    • Levels or Stories: Two
    • Building Total Stories: 2
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BuyOwner last updated this listing 12/18/2024 @ 04:03

  • MLS: 24464145
  • LISTING PROVIDED COURTESY OF: ,
  • SOURCE: CRMLS

is a Home, with 11 bedrooms which is for sale, it has 5,948 sqft, 6,046 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.