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Listing Details

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On Site
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School Ratings & Info

Description

4.55% Cap Rate & 15.5 GRM! Built in 1987 - not subject to Santa Monica Rent Control! Located just one mile to the famous Santa Monica Pier and a 4 -minute drive to Santa Monica Place, 1753 9th St is an extremely rare fully renovated 7-unit complex. This meticulously maintained two-story property features (1) 4 Bed + Den | 3.5 Bath Owners Unit, (1) 2 Bed | 1 Bath Unit, (3) 2 Bed | 2 Bath Units, and (2) 3 Bed | 2 Bath Units, all with new flooring, central A/C, in-unit laundry, and spacious patios/balconies. The kitchens are equipped with stainless steel appliances, new cabinets, Quartz countertops, and modern tiled back-splashes. The property includes ample gated parking for all units (12 spaces), gorgeous landscaping, and secure entry. The complex attracts young professionals wanting to live close to the beach (82 walk score & 86 bike score!), moments to two of the hippest shopping centers in Los Angeles (Santa Monica Place & 3rd St Promenade), and a short drive to big tech and entertainment headquarters. Unit 102 is rent restricted. Additional investment upside available by building an ADU in rear parking lot! Regarded as one of the highest demand rental markets in the country, this prime asset is positioned to be a terrific source of cash-flow and accelerated appreciation.

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Based on information from California Regional Multiple Listing Service, Inc. as of 2021-09-21T12:27:12.83. 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 or Latrice Deluna Homes | The Orion Group. Licensed in the State of California, USA.
www.findorangecountyhomelistings.com/homes/119505176
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1753 9Th Street Santa Monica, CA 90404

  • Price: $5,100,000
  • Status: Active
  • Updated: 66 min ago
  • ID#: 21761852
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Beds
0
Baths
0
½ Baths
0.17
Acres
1987
Built
Neighborhood:
C14 - Santa Monica
County:
Los Angeles
Area:
C14 - Santa Monica
Property Description
4.55% Cap Rate & 15.5 GRM! Built in 1987 - not subject to Santa Monica Rent Control! Located just one mile to the famous Santa Monica Pier and a 4 -minute drive to Santa Monica Place, 1753 9th St is an extremely rare fully renovated 7-unit complex. This meticulously maintained two-story property features (1) 4 Bed + Den | 3.5 Bath Owners Unit, (1) 2 Bed | 1 Bath Unit, (3) 2 Bed | 2 Bath Units, and (2) 3 Bed | 2 Bath Units, all with new flooring, central A/C, in-unit laundry, and spacious patios/balconies. The kitchens are equipped with stainless steel appliances, new cabinets, Quartz countertops, and modern tiled back-splashes. The property includes ample gated parking for all units (12 spaces), gorgeous landscaping, and secure entry. The complex attracts young professionals wanting to live close to the beach (82 walk score & 86 bike score!), moments to two of the hippest shopping centers in Los Angeles (Santa Monica Place & 3rd St Promenade), and a short drive to big tech and entertainment headquarters. Unit 102 is rent restricted. Additional investment upside available by building an ADU in rear parking lot! Regarded as one of the highest demand rental markets in the country, this prime asset is positioned to be a terrific source of cash-flow and accelerated appreciation.
Interior Features

Appliances DishwasherMicrowaveRefrigeratorDryerWasher Cooling Central Air Cooling YN Yes Heating Central Heating YN Yes

Property Features

Gross Income 328080 Listing Agreement Exclusive Right To Sell Listing Service Full Service Net Operating Income 232116 Property Condition Updated/Remodeled Senior Community YN No Special Listing Conditions Standard Zoning Smr2*

Listing provided courtesy of Elijah Korobkin of Central Realty Advisors Inc


Based on information from California Regional Multiple Listing Service, Inc. as of 2021-09-21T12:27:12.83. 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 or Latrice Deluna Homes | The Orion Group. Licensed in the State of California, USA.
 
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Latrice Deluna Homes | The Orion Group
4533 MacArthur Blvd Ste 5074
Newport Beach CA, 92660