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648 Hill Street, Santa Monica, CA 90405

$1,837,500

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.

  • Front house is a 2-bedroom 1-bath with a detached triplex consisting of (3) 1-bedroom 1-bath units
  • Great owner occupy option
  • Significant rental upside

Property Downloads

Address

  • City: Santa Monica
  • State/county: CA
  • Country: United States

Detail

Updated on July 16, 2019 at 5:00 pm

  • Price: $1,837,500
  • Sell Date: 7/9/19
  • Property Size: 2,662 Sq Ft
  • Land Area: 6,443 Sq Ft
  • Year Built: 1956
  • Property Type: Multifamily
  • Property Status: Sold
  • Numbers of Units: 4
  • NOI: $56,338
  • GRM: 21.23
  • CAP RATE: 2.94%
  • Price per Unit: $499,750
  • Market GRM: 15.03
  • Market CAP RATE: 4.83%

Contact info

Austin Zahn
Austin Zahn
(310) 491-7050(310) 613-1251
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