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    1045 Ocean Avenue

    Santa Monica, CA 90403
    • $15,990,000
    • STATUS: Active Under Contract
    • ON SITE: 137 days
    • ID#: AR20136079
    Under Contract
    UPDATED: 33 min ago
    $15,990,000
    • 0
      BEDS
    • 0.26
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 15,005
      SQFT
    • $1,066
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1922
    County:

    School Ratings & Info

    Description

    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.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2020-11-30T17:33:29.493. 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 Legacy 15 Real Estate Brokers. Licensed in the State of California, USA.

    www.legacy15.com/homes/107881822
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    1045 Ocean Avenue Santa Monica, CA 90403

    • Price: $15,990,000
    • Status: Active Under Contract
    • Updated: 33 min ago
    • ID#: AR20136079
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.26
    Acres
    15,005
    SQFT
    $1,066
    $/SQFT
    1922
    Built
    Neighborhood:
    C14 - Santa Monica
    County:
    Los Angeles
    Area:
    C14 - Santa Monica
    Property Description
    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.
    Exterior Features

    Garage Spaces 6.00 Lot Features Lot 10000-19999 SqftValue In Land Lot Size Source Assessor Lot Size Units Square Feet Parking Features Assigned Parking Total 6.00 Parking YN Yes Pool Features None Pool Private YN No Property Attached YN Yes View CoastlineOceanWater View YN Yes

    Interior Features

    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 Walls Cooling Wall/Window Unit(S) Cooling YN Yes Fireplace Features None Fireplace YN No Flooring LaminateVinylWood Heating Wall Furnace Heating YN Yes Laundry Features Common AreaCommunity Levels Two

    Property Features

    Additional Parcels YN No Association Fee 0.00 Association YN No Building Area Units Square Feet Community Features Dog ParkParkWatersportsSuburbanUrban Country Us Current Financing None Electric Standard Electric Expense 0.00 Elevation Units Feet Fuel Expense 0.00 Gross Income 0.00 Gross Scheduled Income 0.00 Insurance Expense 0.00 Land Lease YN No Laundry YN Yes Net Operating Income 0.00 New Construction YN No New Taxes Expense 0.00 Number Of Separate Electric Meters 1 Number Of Separate Gas Meters 1 Number Of Separate Water Meters 1 Number Of Units Leased 14 Number Wall AC 20 Number With Dishwasher 0 Number With Disposal 20 Number With Range 20 Number With Refrigerator 20 Operating Expense 0.00 Professional Management Expense 0.00 Property Sub Type Apartment Rent Control YN Yes Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Tenant Pays None Total Expenses 0.00 Trash Expense 0.00 Water Sewer Expense 0.00 Water Source Public Year Built Source Assessor Zoning Smr3*

    Listing provided courtesy of Handoko Chen of Gig Real Estate Inc.


    Based on information from California Regional Multiple Listing Service, Inc. as of 2020-11-30T17:33:29.493. 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 Legacy 15 Real Estate Brokers. Licensed in the State of California, USA.

     
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