1034 Grant St, Santa Monica, CA 90405

1034 Grant St, Santa Monica, CA 90405

Santa Monica, CA

Property Description

Investors, take advantage of this 5 Unit “Value Add” Apartment building in Prime Sunset Park/Santa Monica. All 5 of the units will be delivered vacant. None of the tenants were subject to eviction, relocation or Ellis Act. Units can be rented out with no restrictions after re-hab . The property is 1 mile to Santa Monica College, SM Airport and the 3rd St Promenade. There is a (1) 2BR/1.5 BA * Owners unit, plus (2) 2BR/1BA & (2) 1BR/1BA units. The owners unit features natural gas heating. There is a beautiful and serene front yard with mature trees, fauna and landscaping. It also has a courtyard in back for entertaining. The 4 units in rear were built in 1958. The units are spacious and well laid out with lots of potential for upgrades. There are separate meters for gas and electric. It has a laundry room with gas & water hookups There are 5 parking spaces in the rear off alley. The property is being sold with 1022 Grant (5 Units) and can be purchased together or separately. This is a Probate Sale and is Subject to Court Confirmation. Please include CAR form PA-PA with all offers. The listing agents are representing sellers exclusively and will not be representing any buyers in this transaction. * The 1/2 BA in owners unit may be un-permitted.

Property Features

  • Sale Price: $2,495,000
  • Area Size: 3,660 Sq. Ft.
  • Land Area: 6,475 Sq. Ft.
  • Year Built: 1928
  • Listing Date: 7/7/2023
  • Units: 5
  • Current GRM: 12.76
  • Current Cap Rate: 5.31%
  • Price Per Unit: $499,000
  • Market GRM: 12.76
  • Market Cap Rate: 5.31%