1047 Ocean Park Blvd Active Save Request In-Person Tour Request Virtual Tour
Santa Monica,CA 90405
Key Details
Property Type Multi-Family
Sub Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 5,296 sqft
Price per Sqft $523
MLS Listing ID 25-489977
Year Built 1947
Lot Size 6,619 Sqft
Acres 0.152
Property Sub-Type Multi-Family
Property Description
** SELLER FINANCING of $1,700,000 at a 4.52% Rate Available through 2032 (7 full years at 60% LTV)** 1047 Ocean Park Blvd is a 5,296-square-foot, seven-unit apartment building situated on a 6,617-square-foot corner lot, just east of Lincoln Blvd and less than a mile from the ocean. The property features a mix of five 2- bedroom/1-bathroom units, including one townhouse, and two large studio units. It also provides a total of ten parking spaces, offering convenience and accessibility for tenants.The property has undergone significant upgrades in recent years. Select units have been updated with maple and laminate flooring, and the building was retrofitted within the last two years. Foundational work was completed in 2023, while a new concrete driveway was paved in November 2022. This property offers strong rental upside with a pro-forma cap rate of 6.72% and a pro-forma GRM of 10.68. Its prime Santa Monica location combined with its recent improvements and competitive financing options, this property is a great investment opportunity with room for growth.
Location
State CA
County Los Angeles
Area Santa Monica
Zoning SMR3*
Rooms
Other Rooms None
Interior
Heating Other
Cooling Other
Equipment Range/Oven
Exterior
Parking Features Carport
Garage Spaces 10.0
Building
Level or Stories Two
Others
Special Listing Condition Standard