Over 5% CAP and stabilized 7 unit apartment building at 902 16th St. apartment is located in a prime Santa Monica neighborhood just one block south of Montana Ave., known for its upscale shopping and dining offering a charming and sophisticated atmosphere close to the beach. Carefully cared for and meticulously managed, this building features bright units with abundant windows and spacious balconies in some units. New roof was also installed this year to the middle structure. Exterior landscaping includes fruit trees and flower beds lining in the front and backyard. Comprising three distinct buildings, the property includes:* Building #1- facing 16th Street with four units: 902A & 904A on the ground floor, and 902B & 904B upstairs. Each floor shares a washer/dryer set between two units.* Building #2- standalone one-bedroom house at 1522 Idaho Ave, facing Idaho Ave.* Building #3- Two one-bedroom units situated above five garages facing Idaho Ave. 3 Units on Idaho Ave share a laundry room. This trophy property weathered the pandemic rental market downturn and historically has experienced low vacancy and fast turnovers. It offers a rare blend of prime location and sound investment, ideal for discerning buyers looking to invest in a well-maintained asset with steady rental income.
Property Details
Price:
$3,600,000
MLS #:
24473231
Status:
Active
Baths:
0
Address:
902 16th Street
Type:
Residential Income
Neighborhood:
c14santamonica
City:
Santa Monica
Listed Date:
Dec 17, 2024
State:
CA
ZIP:
90403
Lot Size:
7,503 sqft / 0.17 acres (approx)
Year Built:
1926
Schools
Interior
Heating
Wall Furnace
Exterior
Parking Spots
5.00
Pool Features
None
Spa Features
None
Stories Total
2
Water Source
Public
Financial
Tenant Pays
Gas, Electricity
Map
Contact Us
Mortgage Calculator
Similar Listings Nearby
- 1421 Greenfield Avenue
Los Angeles, CA$4,640,000
3.03 miles away
- 1537 Corinth Avenue
Los Angeles, CA$4,495,000
2.57 miles away
- 2512 Kansas Avenue
Santa Monica, CA$4,385,000
1.72 miles away
- 10786 Missouri Avenue
Los Angeles, CA$4,300,000
3.56 miles away
- 1288 Barry Avenue
Los Angeles, CA$4,025,000
2.23 miles away
- 943 19th Street
Santa Monica, CA$4,000,000
0.28 miles away
- 620 Acanto Street
Los Angeles, CA$3,995,000
3.38 miles away
- 11948 Darlington Avenue
Los Angeles, CA$3,995,000
1.77 miles away
- 2408 Ocean Park Boulevard
Santa Monica, CA$3,975,000
2.13 miles away
- 11942 Darlington Avenue
Los Angeles, CA$3,975,000
1.78 miles away
Courtesy of Coldwell Banker Realty. Disclaimer: All data relating to real estate for sale on this page comes from the Broker Reciprocity (BR) of the California Regional Multiple Listing Service. Detailed information about real estate listings held by brokerage firms other than BUSINESS MA include the name of the listing broker. Neither the listing company nor BUSINESS MA shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. The Broker providing this data believes it to be correct, but advises interested parties to confirm any item before relying on it in a purchase decision. Copyright 2024. California Regional Multiple Listing Service. All rights reserved.
902 16th Street
Santa Monica, CA
LIGHTBOX-IMAGES