Property Description

**SELLER FINANCING AVAILABLE. CALL FOR MORE DETAILS**A rare opportunity to own a remodeled 5-unit property in the heart of Santa Monica. This 4,454 sq. ft. building sits on a spacious 7,510 sq. ft. R3 lot, offering excellent ADU potential and future development opportunities. The front house is a 2-bed/2-bath Craftsman home, which is vacant and ready for an owner-user or new tenant. It features a fireplace, bay window, large living room, hardwood floors, countertop island, in-unit washer and dryer, and both a front and side yard. Attached to it, through a separate entrance, is an attic space configured as a 1-bed/1-bath unit with a kitchenette, providing additional space and flexibility. The property’s charming garden-style design enhances its curb
appeal. The rear of the property includes four units: two 1-bed/1-bath units (one currently vacant) and two studio units, one which includes a private deck, allowing an investor to maximize rental income. The building is in excellent condition, with seismic retrofitting completed, a relatively new roof, and copper plumbing. Additionally, there are four garages, two of which are separately
rented, generating extra income. The property boasts a current cap rate of 5.05% and a GRM 13.14, making it a highly attractive investment. With a desirable unit mix, prime location, and potential
for additional development, this is a phenomenal opportunity to invest in one of Santa Monica’s most sought-after neighborhoods.