611 Ocean Park Blvd, Santa Monica, CA 90405

611 Ocean Park Blvd, Santa Monica, CA 90405

Santa Monica, CA
$3,195,000

Property Description

INVESTMENT HIGHLIGHTS

  • PRIME SANTA MONICA LOCATION. STEPS FROM MAIN STREET AND THE BEACH IN CLOSE PROXIMITY TO SANTA MONICA’S MOST ICONIC LOCATIONS.
  • UNLIMITED ENTERTAINMENT OPTIONS INCLUDING MAIN STREET, 3RD ST PROMENADE, ABBOT KINNEY AND THE VENICE BOARDWALK.
  • NO SEISMIC RETROFIT REQUIRED
  • EASE OF ACCESS TO MAJOR THOROUGHFARES INCLUDING THE 10 FREEWAY(1 MILE AWAY) AND LINCOLN BLVD PROVIDING ACCESS TO GREATER LOS ANGELES.
  • LARGE SPACIOUS UNITS WITH A UNIQUE UNIT MIX CONSISTING OF (1)SINGLE, (2) 1 BED / 1 BATH, (1) 1 BED / 1.5 BATH, (1) 3 BED / 2 BATH.
  • DELIVERED WITH A VACANT 1 BEDROOM

EXECUTIVE SUMMARY

We are pleased to present this unique 5-unit opportunity in a prime Santa Monica location on the corner of 6th and Ocean Park, just steps to the beach, dining, entertainment and in close proximity to all of the major attractions that Santa Monica has to offer. The excellent unit mix and large units are coupled with unique charm in this well-maintained building, offering an investor long term growth in an excellent location. The property offers excellent amenities for tenants with great outdoor space, garage storage/parking, and ease of access to major thoroughfares. The property is well positioned to take advantage of continued low historical vacancy and long-term rental growth in one of the premiere locations in Santa Monica.

Property Features

  • Sale Price: $3,195,000
  • Area Size: 4,694 SF
  • Land Area: 6,121 SF
  • Year Built: 1922
  • Listing Date: June 22, 2022
  • Units: 5
  • Current GRM: 17.36
  • Current Cap Rate: 3.66%
  • Market GRM: 14.68
  • Market Cap Rate: 4.64%

Lyon Stahl Investment Real Estate

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