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2615 2nd Street

Santa Monica, CA 90405
  • $4,080,000
  • STATUS: ACTIVE
  • ON SITE: 73 Days
  • ID#: AR23176881
UPDATED: 29 min ago
$4,080,000
  • 3
    BEDS
  • 0.15
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
County:

School Ratings & Info

Description

Priced to Sell at $120,000 lower than what Seller bought it for in 2016. 2615 S 2nd St, a prime apartment complex boasting 7 units situated just 2 blocks from the water. The property is in the Ocean Park area, just a block from Main Street. Only 2 blocks from the beach, this property has an almost perfect walk score of 98 and bike score of 86. It is located in an excellent demographics area of $131,779 average household income within a mile radius. The property has been upgraded extensively and its soft-story parking has been seismically retrofitted. It has copper plumbing throughout, updated sewer line, updated electrical, and double pane windows throughout. In addition, the property has security camera systems installed. The property is an attractive 2-story modern, mid-century apartment that was built in 1962. It offers an excellent curb appeal and has a total of 4,696 square feet building size; it is situated on a 6,487 square feet lot. The property offers six (6) 1bedroom+1bathroom and one (1) large 2bedroom+2bathroom units. All units (except #1) have been completely upgraded with modern upgrades which include recessed lighting, new flooring throughout, in-unit washer/dryer, new kitchen with quartz countertops + new kitchen cabinets + dishwasher, new bathroom with new vanity cabinets, and mirrored closet doors. The 2 bedroom unit is large and bright with desirable layout and has been fully upgraded. There are 7 assigned parking spaces (5 carports + 2 open). The parking soft-story area has been seismically retrofitted according to code. Each unit is separately metered f Priced to Sell at $120,000 lower than what Seller bought it for in 2016. 2615 S 2nd St, a prime apartment complex boasting 7 units situated just 2 blocks from the water. The property is in the Ocean Park area, just a block from Main Street. Only 2 blocks from the beach, this property has an almost perfect walk score of 98 and bike score of 86. It is located in an excellent demographics area of $131,779 average household income within a mile radius. The property has been upgraded extensively and its soft-story parking has been seismically retrofitted. It has copper plumbing throughout, updated sewer line, updated electrical, and double pane windows throughout. In addition, the property has security camera systems installed. The property is an attractive 2-story modern, mid-century apartment that was built in 1962. It offers an excellent curb appeal and has a total of 4,696 square feet building size; it is situated on a 6,487 square feet lot. The property offers six (6) 1bedroom+1bathroom and one (1) large 2bedroom+2bathroom units. All units (except #1) have been completely upgraded with modern upgrades which include recessed lighting, new flooring throughout, in-unit washer/dryer, new kitchen with quartz countertops + new kitchen cabinets + dishwasher, new bathroom with new vanity cabinets, and mirrored closet doors. The 2 bedroom unit is large and bright with desirable layout and has been fully upgraded. There are 7 assigned parking spaces (5 carports + 2 open). The parking soft-story area has been seismically retrofitted according to code. Each unit is separately metered for electricity and gas. Located in the southwest corner of Santa Monica is the Ocean Park neighborhood. The Ocean Park neighborhood is unique in the sense that it has one of the highest proportions of one, two, or no (studio) bedroom real estate of any neighborhood in America. This means it has a higher proportion of its residents employed as executives, managers and professionals in comparison to the 98.4% of the neighborhoods in America. Many Santa Monica residents come to shop/browse on Main Street, home of many boutiques, restaurants, as well as a local farmers market every Sunday. SMASH (an alternative school), Olympic High and John Muir elementary are schools located in the neighborhood.

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San Diego MLS logo This information is deemed reliable but not guaranteed. You should rely on this information only to decide whether or not to further investigate a particular property. BEFORE MAKING ANY OTHER DECISION, YOU SHOULD PERSONALLY INVESTIGATE THE FACTS (e.g. square footage and lot size) with the assistance of an appropriate professional. You may use this information only to identify properties you may be interested in investigating further. All uses except for personal, non-commercial use in accordance with the foregoing purpose are prohibited. Redistribution or copying of this information, any photographs or video tours is strictly prohibited. This information is derived from the Internet Data Exchange (IDX) service provided by San Diego MLS. Displayed property listings may be held by a brokerage firm other than the broker and/or agent responsible for this display. The information and any photographs and video tours and the compilation from which they are derived is protected by copyright. Compilation © 2023 San Diego MLS, Inc. Licensed in the state of California.
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2615 2nd Street Santa Monica, CA 90405

  • Price: $4,080,000
  • Status: ACTIVE
  • On Site: 73 Days
  • Updated: 29 min ago
  • ID#: AR23176881
3
Beds
0
Baths
0
½ Baths
0.15
Acres
Neighborhood:
Ocean Park
County:
Los Angeles
Area:
Santa Monica (90405)
Property Description
Priced to Sell at $120,000 lower than what Seller bought it for in 2016. 2615 S 2nd St, a prime apartment complex boasting 7 units situated just 2 blocks from the water. The property is in the Ocean Park area, just a block from Main Street. Only 2 blocks from the beach, this property has an almost perfect walk score of 98 and bike score of 86. It is located in an excellent demographics area of $131,779 average household income within a mile radius. The property has been upgraded extensively and its soft-story parking has been seismically retrofitted. It has copper plumbing throughout, updated sewer line, updated electrical, and double pane windows throughout. In addition, the property has security camera systems installed. The property is an attractive 2-story modern, mid-century apartment that was built in 1962. It offers an excellent curb appeal and has a total of 4,696 square feet building size; it is situated on a 6,487 square feet lot. The property offers six (6) 1bedroom+1bathroom and one (1) large 2bedroom+2bathroom units. All units (except #1) have been completely upgraded with modern upgrades which include recessed lighting, new flooring throughout, in-unit washer/dryer, new kitchen with quartz countertops + new kitchen cabinets + dishwasher, new bathroom with new vanity cabinets, and mirrored closet doors. The 2 bedroom unit is large and bright with desirable layout and has been fully upgraded. There are 7 assigned parking spaces (5 carports + 2 open). The parking soft-story area has been seismically retrofitted according to code. Each unit is separately metered f Priced to Sell at $120,000 lower than what Seller bought it for in 2016. 2615 S 2nd St, a prime apartment complex boasting 7 units situated just 2 blocks from the water. The property is in the Ocean Park area, just a block from Main Street. Only 2 blocks from the beach, this property has an almost perfect walk score of 98 and bike score of 86. It is located in an excellent demographics area of $131,779 average household income within a mile radius. The property has been upgraded extensively and its soft-story parking has been seismically retrofitted. It has copper plumbing throughout, updated sewer line, updated electrical, and double pane windows throughout. In addition, the property has security camera systems installed. The property is an attractive 2-story modern, mid-century apartment that was built in 1962. It offers an excellent curb appeal and has a total of 4,696 square feet building size; it is situated on a 6,487 square feet lot. The property offers six (6) 1bedroom+1bathroom and one (1) large 2bedroom+2bathroom units. All units (except #1) have been completely upgraded with modern upgrades which include recessed lighting, new flooring throughout, in-unit washer/dryer, new kitchen with quartz countertops + new kitchen cabinets + dishwasher, new bathroom with new vanity cabinets, and mirrored closet doors. The 2 bedroom unit is large and bright with desirable layout and has been fully upgraded. There are 7 assigned parking spaces (5 carports + 2 open). The parking soft-story area has been seismically retrofitted according to code. Each unit is separately metered for electricity and gas. Located in the southwest corner of Santa Monica is the Ocean Park neighborhood. The Ocean Park neighborhood is unique in the sense that it has one of the highest proportions of one, two, or no (studio) bedroom real estate of any neighborhood in America. This means it has a higher proportion of its residents employed as executives, managers and professionals in comparison to the 98.4% of the neighborhoods in America. Many Santa Monica residents come to shop/browse on Main Street, home of many boutiques, restaurants, as well as a local farmers market every Sunday. SMASH (an alternative school), Olympic High and John Muir elementary are schools located in the neighborhood.
Exterior Features

Parking Garage Desc Unit1 Assigned Pool N/K Spa N/K Topography Level

Interior Features

Cooling Wall/Window Stories 2 Story Total Baths Unit1 2 Total Baths Unit2 1 Units With Cooling 7 Units With Range Oven 7 Units With Refrigerators 7 Units With Washers 6

Property Features

Actual Cap Rate 3.56 Annual Expense Actual 87360 Assessments Yes/Remarks Buildings 1 Cfd Mello Roos Fee 0.0 Cfd Mello Roos Fee Reflects Year Gross Rent Multiplier Actual 17.19 Gross Scheduled Income Actual 237378 Home Owners Fees 0.0 Possession Close Of Escrow Tenant Pays ElectricityGas/Propane Terms Cash Unit Number For Unit1 1 Unit Number For Unit2 2 Unit1 Rent Actual 4083.0 Unit2 Rent Actual 2616.0 Zoning Assessor

San Diego MLS logo Listing provided courtesy of Han Chen of Growth Investment Group Pasade: 626-224-2495. Listing information © 2023 San Diego MLS Inc. Source: CRMLS
San Diego MLS logo This information is deemed reliable but not guaranteed. You should rely on this information only to decide whether or not to further investigate a particular property. BEFORE MAKING ANY OTHER DECISION, YOU SHOULD PERSONALLY INVESTIGATE THE FACTS (e.g. square footage and lot size) with the assistance of an appropriate professional. You may use this information only to identify properties you may be interested in investigating further. All uses except for personal, non-commercial use in accordance with the foregoing purpose are prohibited. Redistribution or copying of this information, any photographs or video tours is strictly prohibited. This information is derived from the Internet Data Exchange (IDX) service provided by San Diego MLS. Displayed property listings may be held by a brokerage firm other than the broker and/or agent responsible for this display. The information and any photographs and video tours and the compilation from which they are derived is protected by copyright. Compilation © 2023 San Diego MLS, Inc. Licensed in the state of California.
 
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