$5,900,000
$724.46
$590,000
10
8,144
4.82%
14.75
Closed
The Liberow Group and The LAAA Team of Marcus & Millichap have collectively elected to present this 10-unit listing located at 1434 10th Street, situated in the heart of Santa Monica, California. Built in 1958, this 10 Unit apartment building consists of spacious 1 bedroom and 2 bedroom units in a highly desirable Santa Monica location, with proximity of ten blocks to the world renowned beaches of Santa Monica.
This approximately 8,144 square foot, 10-unit multifamily property boasts an attractive unit mix of (4) 2-bed / 2-bath units and (6) 1-bed / 1-bath units, with an average unit size of approximately 800 square feet.
Within the past several years, the seller has expended a significant amount of monies towards over standard improvements to both the interiors and the exteriors of the property. 9 of the 10 units within the subject property have been fully remodeled and modernized. The 9 remodeled units feature open floor plans with Nest controlled central AC and heating, recessed lighting, upgraded plumbing and windows, and their own in-unit washer and dryer.
This offering presents a substantial opportunity for an investor who desires easy management to purchase a prime property at an attractive 4.67% cap rate (cap rate assumes that the 4 current vacancies are leased at the estimated rental rates).
HIGHLIGHTS:
• Built in 1958
• Walk Score of 91
• 9 of 10 Units Have Been Fully Remodeled & Modernized in 2017
• Within Walking Distance of Metro Rail
• Diversified Unit Mix of 1-Bed and 2-Bed Units
• Walking or Biking Distance to Santa Monica Beaches and Downtown
• Within Immediate Proximity to Supermarkets, Drug Stores, and Other Local Attractions
Sam Liberow
Senior Managing Director of Investment
Direct: 818-212-2795
Cell: 718-406-3128
SLIBEROW@MARCUSMILLICHAP.COM
CA: 01933858
Call us anytime. We are here for you. 818-212-2795
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