1252 23rd St, Santa Monica, CA 90404
Santa Monica, CA$2,750,000
Property Description
INVESTMENT HIGHLIGHTS
- Front Owners Unit is a 3 Bed/2.5-Bath Townhome Style Unit with Private 2 Car Garage + 2 Parking Spaces.
- (1) 3 Bed/2 Bath Unit and (2) 2 Bed/2 Bath Units with Private Patios & Covered Parking Spaces.
- Large value-add opportunity with immediate upside.
- Residential 30 Year Financing Available.
- Great proximity to St. John’s Health Center and Whole Foods.
EXECUTIVE SUMMARY
1252 23rd Street is a sought-after 4-unit building well located in Santa Monica with great proximity to Saint John’s Heath Center, Whole Foods, and many other retailers. The front townhome style (owners’ unit) has three bedrooms, two and half bathrooms, a fireplace, and a 2-car garage with two tandem parking spaces. The other units consist of (2) two-bedrooms, two-bathroom units, and (1) three-bedroom two-bathroom units, private patios, and 4 carport spaces in the alley. This is a very large value-add building with immediate upside.
Property Features
- Sale Price: $2,750,000
- Area Size: 5,428 Sq. Ft.
- Land Area: 5,319 Sq. Ft.
- Year Built: 1965
- Listing Date: 3/20/2023
- Units: 4
- Current GRM: 17.23
- Current Cap Rate: 3.96%
- Price Per Unit: $687,500
- Market GRM: 14.15
- Market Cap Rate: 5.04%
- Current NOI: $108,768
