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848 18TH St

Santa Monica, CA 90403
  • $5,495,000
  • STATUS: Active
  • ON SITE: 84 Days
  • MLS #: 22-131101
UPDATED: 33 min ago
$5,495,000
  • 14
    BEDS
  • 0.18
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 9,318
    SQFT
  • $590
    $/SQFT
Neighborhood:
Type:
Multi-Family
Built:
1962
County:
Area:

School Ratings & Info

Description

This trophy property features 9,318 square feet of rentable area and is situated on a 8,000-square foot lot. The 7-unit building is composed of Two (2) XXL 2-bedroom/2-bathroom units with huge front decks that are approximately 1450 SF and Five (5) XL 2-bedroom/2-bathroom units that are approximately 1250 SF. Two of the units will be upgraded by the close of escrow to condo quality (as seen in the pics). The rest are in great shape, just not condo-quality. Many have hardwood floors and granite in the kitchen. Each unit has a balcony or patio. The building has been well-maintained. The roof is four years old, it's 100% copper plumbing and has an updated electrical panel. 3 of the units have laundry hookups in unit, the rest use the laundry on site. It's gated and the EQ retrofit will be totally complete by COE. There's 11 on-site parking (2 tandem in the front and 2 tandem in the rear) for tenants. Compare for yourself, this property has the lowest price per square foot of any comparable area in Santa Monica - and the property has about 35% upside.

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Based on information from the Combined LA/Westside Multiple Listing Service as of 2022-05-21T21:42:53.26. 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/126127005
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848 18TH St Santa Monica, CA 90403

  • Price: $5,495,000
  • Status: Active
  • On Site: 84 Days
  • Updated: 33 min ago
  • MLS #: 22-131101
14
Beds
0
Baths
0
½ Baths
0.18
Acres
9,318
SQFT
$590
$/SQFT
1962
Built
Neighborhood:
Santa Monica
County:
Los Angeles
Area:
Santa Monica
Property Description
This trophy property features 9,318 square feet of rentable area and is situated on a 8,000-square foot lot. The 7-unit building is composed of Two (2) XXL 2-bedroom/2-bathroom units with huge front decks that are approximately 1450 SF and Five (5) XL 2-bedroom/2-bathroom units that are approximately 1250 SF. Two of the units will be upgraded by the close of escrow to condo quality (as seen in the pics). The rest are in great shape, just not condo-quality. Many have hardwood floors and granite in the kitchen. Each unit has a balcony or patio. The building has been well-maintained. The roof is four years old, it's 100% copper plumbing and has an updated electrical panel. 3 of the units have laundry hookups in unit, the rest use the laundry on site. It's gated and the EQ retrofit will be totally complete by COE. There's 11 on-site parking (2 tandem in the front and 2 tandem in the rear) for tenants. Compare for yourself, this property has the lowest price per square foot of any comparable area in Santa Monica - and the property has about 35% upside.
Exterior Features

Cross Streets Montana Entry Location Ground Level W/Steps Lot Location Desert Front Lot Size Area 7975 Other Structures None Parking Garage Carport Patio Features Deck(S)EnclosedBalcony Paved YN Yes Total Parking 10

Interior Features

Baths Total 14.00 Cooling Other Equipment Other Heating Other Laundry Laundry AreaIn Unit Laundry Equipment Own

Property Features

Alley YN Yes Assessed Total Value 4041440 Gross Income 285984 Gross Operating Income 277404 Like Units1 2 Like Units2 5 Net Operating Income 180246.00 Number Of Buildings 1 Number Of Units 7 Owner Pays WaterElectricityGardener Property Condition Updated/Remodeled Rent Control YN Yes Sale Type Standard Security Features Gated Source Living Area Vendor Enhanced Source Lot Size Area Vendor Enhanced Source Lot Size Dimensions Vendor Enhanced Tenant Pays GasElectricity Total Annual Expense 97157 Type Of Units 2+2 Year Built Source Vendor Enhanced Zoning Smr2*

Listing provided courtesy of Peter Ciriello DRE#01418188 of La Commercial.


Based on information from the Combined LA/Westside Multiple Listing Service as of 2022-05-21T21:42:53.26. 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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