2626 Cloverfield Blvd, Santa Monica, CA 90405

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$4,995,000

Est. payment - /mo

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11 BD

12 BA

5,948 SqFt

Active

2626 Cloverfield Blvd Santa Monica, CA 90405

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Marlyn Kamibayashiyama

marlyn4k@gmail.com +1(702) 325-8918

UPDATED:

11/23/2024 07:01 AM

Key Details

Property Type Multi-Family

Sub Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 5,948 sqft

Price per Sqft $839

MLS Listing ID 24-464145

Bedrooms 11

Year Built 1966

Lot Size 6,046 Sqft

Acres 0.1388

Property Description

Huge 650k Price Reduction & Now 100% Occupied! 12 Unit building with 10 fully renovated units in Prime Santa Monica cash flowing at an incredible Current Cap Rate of 5.8% and 12.6 GRM from day 1! Priced at only 416k/door for renovated units with an amazing upside to 6.7% Cap Rate and 11.2 GRM on the proforma. Delivered with 10 fully renovated units with permits including 8 remodeled units plus 2 brand-new attached ADUs. These units have been completely renovated with permits (100% occupied) and boast a high-end aesthetic with new modern cabinets, flooring, recessed lighting, new bathrooms, stainless steel appliances, washer/dryer inside, as well as major exterior capital improvements. Notably, there are preliminary plans for 2 additional detached ADUs over the open parking lot in the back that offer exceptional future upside potential. The property is located in the heart of Santa Monica just minutes away from the Beach and within close proximity to Santa Monica Business Park as well as hip neighborhood attractions, restaurants, bars, and shops such as Layla Bagels, Local Kitchen & Wine Bar, Estate Coffee, and many more popping up all around the area.

Location

State CA

County Los Angeles

Area Santa Monica

Zoning SMR3*

Rooms

Other Rooms None

Interior

Heating Wall

Cooling Ceiling Fan

Equipment Refrigerator, Range/Oven

Exterior

Parking Features Uncovered

Garage Spaces 9.0

Building

Story 2

Level or Stories Two

Others

Special Listing Condition Standard

The multiple listings information is provided by The MLSTM/CLAW from a copyrighted compilation of listings. The compilation of listings and each individual listing are ©2024 The MLSTM/CLAW. All Rights Reserved.

The information provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All properties are subject to prior sale or withdrawal. All information provided is deemed reliable but is not guaranteed accurate, and should be independently verified.

Listed by Global Platinum Properties, Inc.

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