1045 Ocean Avenue

6

7-units are vacant! High Proforma CAP Rate. 1045 Ocean Ave, Santa Monica is Steps from the beach in Santa Monica and walking distance to some of the best amenities in Santa Monica. It is a 20-unit apartment in Downtown Santa Monica. It is located on Ocean Ave between California Ave and Washington Ave and a block away from Third Street Promenade on Wilshire Blvd, across the street from Palisades Park that offers unobstructed ocean view of Pacific Ocean, Santa Monica Beach, Santa Monica Pier and Southern California coastline. It is within walking distance to all the best amenities Santa Monica has to offer, including Metrolink light-rail station on Colorado Ave. It has a strong demographics of $143,000 average household income within a 3-mile radius and has superb access to FWY 10 and CA-1N (Pacific Coast Highway) is a street away. The property is a 2-1/2 story apartment that was built in 1922. It has a total of ±15,005 square feet building size and situated on a ±11,260 square feet R3 lot. It is surrounded by much higher density residential properties on its left and right. Unit mix consists of (4) 2bedroom+1bathroom, (1) 2bedroom+2bathroom, (7) 1bedroom+1bathroom, (7) studio, and one (1) penthouse-1bedroom+1bathroom. The property is master metered for electricity, gas and water. It is under Santa Monica Rent Stabilization Ordinance (rent control). Several units have been upgraded. Parking is provided by 6 garage parking in the back.
1045 Ocean Avenue, Santa Monica, CA 90403 | Residential Income | Active Under Contract | 15005 SF | 11260 SF Lot | Built 1922 | MLS# AR20136079

Offered at $15,990,000

Features

Garage Spaces: 6 | Parking Spaces: 6 | Pool: No | View: Coastline,Ocean,Water | Colling : Wall/Window Unit(s) | Heating : Wall Furnace

Meet an expert

Troy Palmquist
Agent | DRE# 01772139

805.409.3662

Based on information from California Regional Multiple Listing Service, Inc. as of October 27, 2020. 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 usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.

Listing provided by
Handoko Chen, GIG Real Estate Inc., Source: Local MLS