2517 20th St Immeuble residentiel 5 lots 1 954 350 € (390 870 €/Lot) Taux de capitalisation 5,13 % Santa Monica, CA 90405

This exceptionally charming 5-unit residential property presents an incredible investment opportunity in a prime Santa Monica location. Built in 1938 this updated
property has immense charm and offers long-term growth potential. The property has been meticulously maintained. Four of the five units have been remodeled and three feature in-unit laundry, the other two have private laundry inside their garage. Original, refinished hardwood floors, two of the units have split AC units, two of the units have quartz and granite countertops, and tiled showers. There is gated entry and a new roof on the rear building, the front building has been recoated. Comprised of 5 units, this property offers both immediate rental income and long-term growth potential. There are three 1 bedroom/1 bathroom units plus two 2 bedroom/1 bathroom units. Two of the front units on the ground level have individual enclosed garages. The two rear units each have a storage garage. Centrally located near transportation, schools, shopping, parks, and the best Santa Monica has to offer. The current tenants are professionals and the units are well maintained. This is a fantastic opportunity for investors seeking a steady cash flow in a thriving market.
Note:
We want to address the soft story retrofit in Santa Monica proactively. We've already engaged a reputable firm, Alpha Structural Inc., to provide a design/build proposal for the required retrofit, specifically for the garage. We’re also in the process of securing a second bid for comparison.
To assist the buyer with this, the City of Santa Monica offers a grant program to help cover retrofit costs. You can find more information and apply for this grant at: https://www.smretrofitgrant.com/program
The seller is prepared to discuss providing some credit in the sale at closing.