1025 9th Street Street

    Santa Monica, CA 90403
    • $4,750,000
    • STATUS: Active
    • ON SITE: 280 days
    • ID#: SB18024657
    UPDATED: 18 min ago
    $4,750,000
    • 0
      BEDS
    • 0.17
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 8,124
      SQFT
    • $585
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1968
    County:

    School Ratings & Info

    Description

    On the market for the first time in over 30 years in one of the best rental markets in Santa Monica! 1025 9th Street (street address is 1027 9th Street) is a 10 unit multifamily building that is 8,124 sq. ft. on a 7,510 sq. ft. lot. This building is rent controlled, therefore there is approximately a 45% rental income upside if one were to bring up the rents to market rates. Their is on-site laundry (leased) and the units are separately metered for electricity and gas.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2018-11-13T11:28:25.277. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. Licensed in the State of California, USA.
    www.fredsedgroup.com/homes/80517541

    1025 9th Street Street Santa Monica, CA 90403

    • Price: $4,750,000
    • Status: Active
    • Updated: 18 min ago
    • ID#: SB18024657
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.17
    Acres
    8,124
    SQFT
    $585
    $/SQFT
    1968
    Built
    Neighborhood:
    C14 - Santa Monica
    County:
    Los Angeles
    Area:
    C14 - Santa Monica
    Property Description
    On the market for the first time in over 30 years in one of the best rental markets in Santa Monica! 1025 9th Street (street address is 1027 9th Street) is a 10 unit multifamily building that is 8,124 sq. ft. on a 7,510 sq. ft. lot. This building is rent controlled, therefore there is approximately a 45% rental income upside if one were to bring up the rents to market rates. Their is on-site laundry (leased) and the units are separately metered for electricity and gas.
    Exterior Features

    Carport Spaces 10.00 Garage Spaces 4.00 Lot Features 6-10 Units/Acre Lot Size Source Assessor Lot Size Units Square Feet Parking Total 14.00 Pool Features None Pool Private YN No Property Attached YN Yes

    Interior Features

    Average Studio Area Units Square Feet Average1 Bed Area Units Square Feet Average2 Bed Area Units Square Feet Average3 Bed Area Units Square Feet Common Walls 2+ Common Walls Laundry Features In Carport Levels Two

    Property Features

    Additional Parcels YN No Building Area Units Square Feet Community Features CurbsSidewalksStreet Lighting Country Us Elevation Units Feet Gardener Expense 2741.00 Gross Income 221356.00 Gross Operating Income 215201.00 Gross Scheduled Income 221356.00 Insurance Expense 5302.00 Land Lease YN No Laundry YN Yes Licenses Expense 2274.00 Maintenance Expense 3153.00 Net Operating Income 126033.00 New Construction YN No New Taxes Expense 55000.00 Number Of Separate Electric Meters 10 Number Of Separate Gas Meters 10 Number Of Separate Water Meters 0 Number Of Units Leased 10 Operating Expense 95323.00 Other Expense 8047.00 Other Expense Description Utility Professional Management Expense 10323.00 Rent Control YN Yes Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Total Expenses 95323.00 Trash Expense 0.00 Water Sewer Expense 0.00 Water Source Public Year Built Source Assessor Zoning Smr2*

    Listing provided courtesy of Patrick Hattori of Re/Max Estate Properties and Jerry Friedman of .


    Based on information from California Regional Multiple Listing Service, Inc. as of 2018-11-13T11:28:25.277. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. Licensed in the State of California, USA.
     
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