241 Marine St Immeuble residentiel 10 lots 2 953 240 € (295 324 €/Lot) Taux de capitalisation 4,63 % Santa Monica, CA 90405

Northmarq is pleased to present 241 Marine Street, a 10-unit multifamily offering located just steps from the beach in the heart of Santa Monica.
Positioned on the border of Santa Monica and Venice, the property sits in one of Los Angeles’ most coveted coastal neighborhoods, Ocean Park. The location offers immediate walkability to Main Street, the Venice Boardwalk, Abbot Kinney, and an array of high-end dining, retail, and recreational destinations.
Originally built in 1903, 241 Marine Street sits on a corner lot totaling approximately 6,490 square feet, with underutilized common area space that provides additional value-add potential. A subsequent buyer will have the opportunity to transform the asset into a boutique luxury property through targeted exterior façade enhancements and comprehensive interior renovations. The property consists of three (3) studios, five (5) one-bedroom/one-bath units, one (1) two-bedroom/one-bath unit, and one (1) two-bedroom/two-bath unit. Additionally, select units feature private patios and ocean views, much of the building remains in largely original condition—creating a blank canvas to deliver a premium product that can command top-of-market rents. With ~32% loss-to-lease on in-place rents, there is a clear path to unlock substantial value in a neighborhood underserved by high-end rental inventory.
In addition to its unbeatable beachside location, 241 Marine offers proximity to major Westside employment hubs, including Silicon Beach, Culver City, the Santa Monica Media District, and Century City. This connectivity attracts a professional tenant base in tech, media, and entertainment, and supports long-term leasing stability in one of the most resilient and high-barrier rentals markets in the region.