1047 Ocean Park Boulevard, Santa Monica, CA 90405
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Listed Price :
$2,850,000
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Beds :
0
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Baths :
7
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Property Size :
5,296 sqft
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Year Built :
1947
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 6.51% and a pro-forma GRM of 10.97. 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.
Interior Features
| Bathroom Information |
| Bathrooms |
7 |
Listing Information
| Address |
1047 Ocean Park Boulevard |
| City |
Santa Monica |
| State |
CA |
| Zip |
90405 |
| County |
Los Angeles |
| Listing Agent |
David Messiah DRE #02117893 |
| Co-Listing Agent |
Cameron Samimi DRE #02035763 |
| Courtesy Of |
Lyon Stahl Investment Real Estate, Inc. |
| List Price |
$2,850,000 |
| Status |
Active |
| Type |
Residential Income |
| Structure Size |
5,296 |
| Lot Size |
6,619 |
| Year Built |
1947 |
Listing information courtesy of: David Messiah, Cameron Samimi, Lyon Stahl Investment Real Estate, Inc.. *Based on information from the Association of REALTORS/Multiple Listing as of Jan 29th, 2025 at 5:47 PM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
