648 Hill Street, Santa Monica, CA 90405

648 Hill Street, Santa Monica, CA 90405

Santa Monica, CA

Property Description

Absolutely charming California bungalow with three rental units behind in the sought after Ocean Park neighborhood of Santa Monica. Ideally located on a quiet tree-lined street, this premier property located West of Lincoln is walking distance to beaches, restaurants, and shopping. Front house is two bedroom/one bath, and each rear unit is a one bedroom/one bath. Well maintained by long time owner. Very easy access to the 10 freeway for commuters and walking distance to the elementary school. This charming property would be ideal for an owner/occupant but is also a fantastic investment opportunity with vacancies being filled almost immediately! Property is under Santa Monica Rent Control and will not be delivered vacant.
<li>Front house is a 2-bedroom 1-bath with a detached triplex consisting of (3) 1-bedroom 1-bath units</li>
<li>Great owner occupy option</li>
<li>Significant rental upside</li>

Property Features

  • Sale Price: $1,837,500
  • Area Size: 2,662 SF
  • Land Area: 6,443 SF
  • Year Built: 1956
  • Closing Date: 7/9/19
  • Units: 4
  • Current GRM: 21.23
  • Current Cap Rate: 2.94%
  • Price Per Unit: $499,750
  • Market GRM: 15.03
  • Market Cap Rate: 4.83%
  • Current NOI: $56,338

Lyon Stahl Investment Real Estate

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