1345 18TH Street

    Santa Monica, CA 90404
    • $3,500,000
    • STATUS: Active
    • ON SITE: 54 days
    • ID#: 18389792
    UPDATED: 49 min ago
    $3,500,000
    • 0
      BEDS
    • 0.17
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 8,910
      SQFT
    • $393
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1965
    County:

    School Ratings & Info

    Description

    Stepp Commercial presents The 18th Street Apartments located in prime Santa Monica, just south of Wilshire Blvd. Tenants can easily enjoy the close proximity of Wilshire Boulevard, the Third Street Promenade, and Main Street boutique shops, dining and nightlife.The desirable unit mix consists of (2) three-bedroom/two-bath and (5) two bedroom/two-bath units. The property has undergone extensive upgrades and improvements including a new hot water heater and copper plumbing throughout. 3 of the 7 units have be fully renovated with stainless steel appliances, grey laminate flooring, custom accent walls, recessed lighting, stone countertops & backsplashes and custom cabinetry. All units have spacious floorplans, dishwashers and lots of natural light.With the 86% upside potential in rents, this property offers investors a tremendous value-add opportunity for future rent growth.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2018-11-18T17:29:52.37. 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/87895043

    1345 18TH Street Santa Monica, CA 90404

    • Price: $3,500,000
    • Status: Active
    • Updated: 49 min ago
    • ID#: 18389792
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.17
    Acres
    8,910
    SQFT
    $393
    $/SQFT
    1965
    Built
    Neighborhood:
    C14 - Santa Monica
    County:
    Los Angeles
    Area:
    C14 - Santa Monica
    Property Description
    Stepp Commercial presents The 18th Street Apartments located in prime Santa Monica, just south of Wilshire Blvd. Tenants can easily enjoy the close proximity of Wilshire Boulevard, the Third Street Promenade, and Main Street boutique shops, dining and nightlife.The desirable unit mix consists of (2) three-bedroom/two-bath and (5) two bedroom/two-bath units. The property has undergone extensive upgrades and improvements including a new hot water heater and copper plumbing throughout. 3 of the 7 units have be fully renovated with stainless steel appliances, grey laminate flooring, custom accent walls, recessed lighting, stone countertops & backsplashes and custom cabinetry. All units have spacious floorplans, dishwashers and lots of natural light.With the 86% upside potential in rents, this property offers investors a tremendous value-add opportunity for future rent growth.
    Exterior Features

    Lot Size Units Square Feet Parking Features Garage Parking YN Yes

    Interior Features

    Appliances RefrigeratorDishwasher Appliances YN Yes

    Property Features

    Gross Multiplier 19.90 Gross Operating Income 172166.00 Improvements Amount 623963 Land Value 722549 Net Operating Income 104904.00 Special Listing Conditions Standard Total Expenses 67262.00 Zoning Smr2*

    Listing provided courtesy of Kimberly Roberts Stepp of Kwsm.


    Based on information from California Regional Multiple Listing Service, Inc. as of 2018-11-18T17:29:52.37. 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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