523 Ashland Avenue

    Santa Monica, CA 90405
    • $3,987,974
    • STATUS: Active Under Contract
    • ON SITE: 49 days
    • ID#: PW18232766
    Under Contract
    $3,987,974
    • 0
      BEDS
    • 0.16
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 6,700
      SQFT
    • $595
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1976
    County:

    School Ratings & Info

    Description

    This charming small complex is tucked away on a tranquil, tree lined street. This prime 7 unit Ocean Park investment enjoys open floor plans with amazing natural light and ocean breezes. Mid-Century Modern, and just 4 blocks to the ocean, or a quick bike ride to the famed 3rd St Promenade, Pier, Sunday farmers market, chic Montana Ave dining and shopping, or your tenants will appreciate all that Main St has to offer. They will soak in the romantic sunsets or escape to the waves; this is the ultimate Santa Monica location and home to the most amazing world class beaches. A fabulous location, fashionable shopping and trendy restaurants, surrounded by the ocean, beaches, and parks, yet freeway close, you are CA dreaming in paradise; welcome to Santa Monica. Units 2 and 4 have been remodeled and upgraded with granite counter tops and gleaming laminate wood flooring. The huge owner's unit boasts 3 bedrooms, and 2 1/2 baths, 2 balconies, plus a one car garage. All other units enjoy one balcony, which is great for a BBQ. There is also ample parking. 6 tandem parking spaces, 4 single parking spaces, and the one car garage, brings the count to 11. Locking storage cabinets are located above many of the spaces. Also included is an onsite laundry room, complete with a coin operated washer, dryer, folding counter and sink. Plenty of room to store surf boads and bikes. Own a piece of Southern California's most sought after gem..Santa Monica! 7 minutes to UCLA and freeway friendly.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2018-11-15T00:29:41.7. 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/87949232

    523 Ashland Avenue Santa Monica, CA 90405

    • Price: $3,987,974
    • Status: Active Under Contract
    • ID#: PW18232766
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.16
    Acres
    6,700
    SQFT
    $595
    $/SQFT
    1976
    Built
    Neighborhood:
    C14 - Santa Monica
    County:
    Los Angeles
    Area:
    C14 - Santa Monica
    Property Description
    This charming small complex is tucked away on a tranquil, tree lined street. This prime 7 unit Ocean Park investment enjoys open floor plans with amazing natural light and ocean breezes. Mid-Century Modern, and just 4 blocks to the ocean, or a quick bike ride to the famed 3rd St Promenade, Pier, Sunday farmers market, chic Montana Ave dining and shopping, or your tenants will appreciate all that Main St has to offer. They will soak in the romantic sunsets or escape to the waves; this is the ultimate Santa Monica location and home to the most amazing world class beaches. A fabulous location, fashionable shopping and trendy restaurants, surrounded by the ocean, beaches, and parks, yet freeway close, you are CA dreaming in paradise; welcome to Santa Monica. Units 2 and 4 have been remodeled and upgraded with granite counter tops and gleaming laminate wood flooring. The huge owner's unit boasts 3 bedrooms, and 2 1/2 baths, 2 balconies, plus a one car garage. All other units enjoy one balcony, which is great for a BBQ. There is also ample parking. 6 tandem parking spaces, 4 single parking spaces, and the one car garage, brings the count to 11. Locking storage cabinets are located above many of the spaces. Also included is an onsite laundry room, complete with a coin operated washer, dryer, folding counter and sink. Plenty of room to store surf boads and bikes. Own a piece of Southern California's most sought after gem..Santa Monica! 7 minutes to UCLA and freeway friendly.
    Exterior Features

    Architectural Style Mid Century Modern Carport Spaces 10.00 Construction Materials Stucco Exterior Features Lighting Fence YN Yes Fencing BlockWrought Iron Garage Spaces 1.00 Lot Features 6-10 Units/AcreGentle SlopeLot 6500-9999Near Public TransitPark NearbyTreed LotUp Slope From StreetWalkstreet Lot Size Source Assessor Lot Size Units Square Feet Parking Features AssignedBuilt-In StorageCarport AttachedCovered ParkingGarageStreetTandem Covered Parking Total 11.00 Pool Features None Pool Private YN No Property Attached YN Yes Road Frontage Type City Street Road Surface Type Paved Roof CompositionShingle Spa Features None Spa YN No View Trees/Woods View YN Yes

    Interior Features

    Appliances DishwasherFree Standing RangeGarbage DisposalGas StoveSelf Cleaning OvenWater Heater Central Appliances YN Yes 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 WallsEnd Unit Cooling None Cooling YN No Door Features Service Entrance Flooring CarpetLaminateTile Heating Wall Heater Heating YN Yes Interior Features BalconyBuilt-InsGranite CountersLiving Room Deck AttachedOpen Floor Plan Laundry Features CommunityDryer IncludedIndividual RoomWasher Included Levels Two Room Type KitchenLiving Room Window Features Blinds

    Property Features

    Accessibility Features None Additional Parcels YN No Association Fee 0.00 Association YN No Builder Name Custom Building Area Units Square Feet Cap Rate 2.70 Community Features CurbsSidewalksStreet LightingSuburban Country Us Elevation Units Feet Gross Income 169356.00 Gross Multiplier 20.55 Gross Scheduled Income 169356.00 Insurance Expense 5003.00 Land Lease YN No Laundry Equipment Own Lease Own Laundry YN Yes Net Operating Income 111636.00 New Construction YN No New Taxes Expense 44250.00 Number Of Separate Electric Meters 7 Number Of Separate Gas Meters 7 Number Of Separate Water Meters 1 Number Of Units Leased 7 Number With Dishwasher 7 Number With Range 7 Operating Expense 57720.00 Professional Management Expense 0.00 Property Condition Updated/Remodeled Property Sub Type Commercial/Residential Rent Control YN Yes Security Features Carbon Monoxide Detector(S)Smoke Detector Senior Community YN No Sewer Sewer Paid Special Listing Conditions Standard Subdivision Name Other Ocean Park Tenant Pays Cable TvElectricityGasTelephone Total Actual Rent 14113.00 Total Expenses 57720.00 Trash Expense 3029.00 Utilities Cable ConnectedElectricity ConnectedNatural Gas ConnectedPhone ConnectedSewer ConnectedWater Connected Water Sewer Expense 5438.00 Water Source Public Year Built Source Assessor Zoning Smop2*

    Listing provided courtesy of Nancy Dushane-Bank of Re/Max Cornerstone.


    Based on information from California Regional Multiple Listing Service, Inc. as of 2018-11-15T00:29:41.7. 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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