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Listed by Brett Dalton Lyon • Lyon Stahl Investment Real Estate, Inc.
$ 4,750,000
Est. payment /mo
Price Dropped by $200K
2306 3rd Street Santa Monica, CA 90405
7,937 SqFt
UPDATED:
12/18/2024 09:13 AM
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 7,937 sqft
Price per Sqft $598
MLS Listing ID SB-24155287
Year Built 1924
Lot Size 6,219 Sqft
Property Description
Situated in the picturesque Ocean Park neighborhood of Santa Monica, 2306 3rd Street stands as a rare gem for investors seeking a prestigious addition to their portfolio. Sitting on a double lot, this legacy 12-unit property features an eclectic mix of residential options, including (1) 4-unit building, (1) duplex, (1) single-family residence with an attached studio, and (4) detached bungalows. With a unit mix of (3) 2-bed/1-bath, (8) 1-bed/1-bath, and (1) studio, the property offers a total of 7,937 square feet of rentable space on a generous 12,703 square foot lot. Boasting a 4.47% CAP rate and a market CAP rate of 6.67%, the investment potential is substantial. Residents enjoy the perfect blend of comfort and convenience, enhanced by the property's prime location. Positioned just blocks from the beach and within walking distance of top-tier retail and restaurants, 2306 3rd Street benefits from its enviable location between Venice Beach and Downtown Santa Monica. Whether you're seeking steady returns or aiming to capitalize on the area's dynamic growth, this property represents a compelling opportunity in coveted location.
Location
State CA
County Los Angeles
Zoning SMOP2*
Interior
Heating None
Cooling None
Fireplaces Type None
Laundry Common Area
Exterior
Parking Features Gated
Pool None
Community Features Biking
Building
Lot Description 11-15 Units/Acre
Sewer Public Sewer
Nicole Van Parys & Gary Nesen
License Partners, Private Office Advisors | License ID: 01108944