Best Priced Property North of Wilshire Blvd!
10 Unit Apartment Building | $4,450,000 ($445,000/Unit) | 5.11% Cap Rate | Santa Monica, CA 90403
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
Asking Price $4,450,000
- Property Type
-
Multifamily
- Square Feet
- 7,764 SF
Listing Contacts
Jonathan Taksa
Verified Profile
- Property Info
Property Overview
Taksa Investment Group, part of RE/MAX Commercial & Investment Realty, is pleased to offer for sale an incredible multifamily asset located at 1019 6th Street in the heart of LA’s famed beach city of Santa Monica. Originally built in 1956, the building boasts an ideal unit mix consisting of all large 1 & 2-bedroom floor plans. Each of these units is spacious, has a terrific layout, and offers an abundance of natural light.
Perfect for a long-term investor, the property has incredible rental upside, a secured intercom entrance, ample on-site parking (soft story retrofit has been completed), all copper plumbing, a newer roof, as well as an on-site laundry facility. The unit mix includes (7) 1-bed, 1-bath units and (2) 2-bed, 2-bath units. Many of the units have been luxuriously upgraded to the highest standards with hardwood flooring, custom window shutters, stainless steel appliances and quartz countertops, central HVAC (select units), recessed lighting, upgraded electrical, and an in-unit washer and dryer (select units). This is a fantastic trophy asset in an undeniably attractive location that will be a perfect addition to an investor’s portfolio.
A quick stroll to downtown Santa Monica, Montana Avenue, and the beach, this property is situated close to all Santa Monica has to offer. With incredible in-place income, enormous rental upside potential, and a secured tenant base, 1019 6th Street gives buyers the unique opportunity to own a generational asset in one of LA’s most prized and coveted locations.
Perfect for a long-term investor, the property has incredible rental upside, a secured intercom entrance, ample on-site parking (soft story retrofit has been completed), all copper plumbing, a newer roof, as well as an on-site laundry facility. The unit mix includes (7) 1-bed, 1-bath units and (2) 2-bed, 2-bath units. Many of the units have been luxuriously upgraded to the highest standards with hardwood flooring, custom window shutters, stainless steel appliances and quartz countertops, central HVAC (select units), recessed lighting, upgraded electrical, and an in-unit washer and dryer (select units). This is a fantastic trophy asset in an undeniably attractive location that will be a perfect addition to an investor’s portfolio.
A quick stroll to downtown Santa Monica, Montana Avenue, and the beach, this property is situated close to all Santa Monica has to offer. With incredible in-place income, enormous rental upside potential, and a secured tenant base, 1019 6th Street gives buyers the unique opportunity to own a generational asset in one of LA’s most prized and coveted locations.
Property Details
- Class
- C
- Year Built
- 1956
- Stories
- 2
- Lot Size (sq. ft)
- 7,405 SF
- Units
- 10
Highlights
- 10 units ideally located in a premier Santa Monica location
- Fantastic unit mix of large 1 and 2-bedroom floor plans
- Several luxuriously upgraded units
- Ample on-site parking (soft story retrofit has been completed)
- Newer roof and all copper plumbing
- In close proximity to the beach, downtown Santa Monica, and high-end dining and shopping of Montana Avenue
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