1518 10th St Immeuble residentiel 11 lots 3 244 875 € (294 989 €/Lot) Taux de capitalisation 5 % Santa Monica, CA 90401

See attached Offering Memorandum. 1518 10th Street is an 11 unit apartment building with 10,080 square feet in a great Santa Monica beach location. Asking price per unit at $340,909 and per square foot at $372 is below the average sales comps which have sold at $460,000 per unit and $480 per square foot. This is a real opportunity to add value with lots of square footage, a great unit mix and ample parking. Add even more value to this 11 Unit building with the currently existing vacant non-conforming unit as an ADU. This is an underutilized asset which has been in the same ownership for decades. Soft Story Retrofitting is completed. All Electric building other than gas for Laundry.
10 private balconies and lots of storage. Some units have electric fireplaces.
Building is clean and the stairways have been resurfaced.
Prime Santa Monica beach location in one of the most high demand and desirable
rental areas in California and the United States. Santa Monica is known for our
beautiful beaches, shops, restaurants and evolving employment hubs. Home to the
Santa Monica Pier, vibrant art community of Bergamont Station with numerous
galleries and nightlife. The property is in the world-renowned Silicon beach
headquarters of many high profile entertainment and technology corporate firms.
Located in the desirable Santa Monica Unified School District and close to Santa
Monica College. Centrally situated between Santa Monica’s happening office
parks. Close proximity to the new Metro Station and within a short train ride to
many destinations. Santa Monica continues to be a growing vibrant diverse
economy. Close to neighboring communities of Prime West Los Angeles,
Brentwood, Westwood, Pacific Palisades, Marina Del Rey, Venice Beach, Playa Del
Rey and Playa Vista.