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    1901 6Th St

    Santa Monica, CA 90405
    • $7,200,000
    • STATUS: Active
    • ON SITE: 8 days
    • MLS #: 21-782346
    UPDATED: 124 min ago
    $7,200,000
    • 15
      BEDS
    • 0.23
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 14,399
      SQFT
    • $500
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1969
    County:
    Area:

    School Ratings & Info

    Description

    Presenting 1901 6th Street Apartments, located only 6 blocks from the ocean, steps from Santa Monica Pier, Third Street Promenade and Main Street restaurants and shops. The courtyard style property is situated on a large corner lot of 10,195 SF. Property features include an elevator, laundry on-site and community courtyard patio. This asset offers the investor a rare opportunity to own a value-add apartment asset in a class A location and neighborhood in Santa Monica. 50% of the units have been renovated leaving the remaining units in unrenovated condition and ripe for upgrades. The desirable unit mix consists of (15) large one-bedroom/one-bathroom and (1) studio/one-bathroom units. The 8 renovated units feature wood flooring, modern light fixtures and ceiling fans in living room, upgraded kitchen (shaker cabinets with quartz countertops), dishwashers, upgraded bathroom, some with dual vanities, and mirrored closet doors. Select units have partial ocean views. In the past several years, Santa Monica has also become an integral part of Silicon Beach, Los Angeles thriving technology, media and entertainment hub. This economic transformation has brought on an increase in a young, affluent, educated population, employed by companies who invest heavily in attracting top-tier talent. With the median home price in the 90405 zip code at nearly $1.7 million (over $969 per square foot), rental demand is strong in this desirable enclave.

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    Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-09-21T23:42:31.15. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
    www.searchdesertrealestate.com/homes/121379899
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    1901 6Th St Santa Monica, CA 90405

    • Price: $7,200,000
    • Status: Active
    • Updated: 124 min ago
    • MLS #: 21-782346
    15
    Beds
    0
    Baths
    0
    ½ Baths
    0.23
    Acres
    14,399
    SQFT
    $500
    $/SQFT
    1969
    Built
    Neighborhood:
    Santa Monica
    County:
    Los Angeles
    Area:
    Santa Monica
    Property Description
    Presenting 1901 6th Street Apartments, located only 6 blocks from the ocean, steps from Santa Monica Pier, Third Street Promenade and Main Street restaurants and shops. The courtyard style property is situated on a large corner lot of 10,195 SF. Property features include an elevator, laundry on-site and community courtyard patio. This asset offers the investor a rare opportunity to own a value-add apartment asset in a class A location and neighborhood in Santa Monica. 50% of the units have been renovated leaving the remaining units in unrenovated condition and ripe for upgrades. The desirable unit mix consists of (15) large one-bedroom/one-bathroom and (1) studio/one-bathroom units. The 8 renovated units feature wood flooring, modern light fixtures and ceiling fans in living room, upgraded kitchen (shaker cabinets with quartz countertops), dishwashers, upgraded bathroom, some with dual vanities, and mirrored closet doors. Select units have partial ocean views. In the past several years, Santa Monica has also become an integral part of Silicon Beach, Los Angeles thriving technology, media and entertainment hub. This economic transformation has brought on an increase in a young, affluent, educated population, employed by companies who invest heavily in attracting top-tier talent. With the median home price in the 90405 zip code at nearly $1.7 million (over $969 per square foot), rental demand is strong in this desirable enclave.
    Exterior Features

    Exterior Construction Stucco Lot Size Area 10195 Other Structures None Parking Garage Garage Total Parking 21

    Interior Features

    Baths Total 16.00 Cooking Appliances Oven-ElectricRange HoodCooktop - Electric Cooling None Equipment DishwasherElevatorCeiling Fan Flooring HardwoodTile Heating None Laundry Laundry Area

    Property Features

    Disability Access Customized Wheelchair Accessible Gross Income 391572 Gross Operating Income 393072 Like Units1 15 Like Units2 1 Net Operating Income 231480.00 Number Of Buildings 1 Number Of Units 16 Sale Type Standard Source Living Area Owner Source Lot Size Area Owner Total Annual Expense 63607 Type Of Units Apartment Year Built Source Vendor Enhanced Zoning Smop4*

    Listing provided courtesy of Kimberly Roberts Stepp DRE#01251767 of Stepp Commercial.


    Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-09-21T23:42:31.15. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
     
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