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Diego Magdaleno

diego@1visionproperties.com +1(714) 376-8652

$3,950,000

Est. payment - /mo

13 Beds

10 Baths

7,098 SqFt

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Key Details

Property Type Single Family Home

Listing Status Active

Purchase Type For Sale

Square Footage 7,098 sqft

Price per Sqft $556

MLS Listing ID 26828455

Bedrooms 13

HOA Y/N No

Year Built 1958

Lot Size 7,483 Sqft

Property Description

We are pleased to offer the opportunity to acquire 1323 11th Street, a 10-unit partially renovated apartment community located in Santa Monica. Situated between Santa Monica Boulevard and Wilshire Boulevard, the subject property is located within walking distance to the 3rd Street Promenade and provides easy access to everyday amenities.Situated on a 7,483 square foot lot, the property consists of a single building with seven one-bedroom units and three two-bedroom units. Current ownership has extensively renovated 80% of the units, featuring new flooring throughout, modern kitchens with quartz countertops, stainless steel appliancesincluding dishwasher, stove/oven, and farmhouse-style sinkand open-concept dining and living areas. Renovated units also include updated bathrooms, contemporary vanities, spacious closets, and ample cabinet space.The two remaining legacy 1Bdr/1Bath units average $1,578/month against a market rent of $2,495, representing a $918 per-unit gap that offers meaningful upside through unit turnover and renovation.1323 11th Street provides investors a rare buying opportunity that delivers an immediate healthy income stream, with remaining rental upside in a prime coastal market.PLEASE DO NOT WALK THE PROPERTY OR DISRUPT TENANTS. CONTACT THE LISTING TEAM FOR DETAILS.

Location

State CA

County Los Angeles

Area C14 - Santa Monica

Zoning SMR3*

Interior

Fireplace No

Exterior

Parking Features Covered

Total Parking Spaces 13

Building

Story 2

Entry Level Two

Level or Stories Two

New Construction No

Others

Senior Community No

Tax ID 4282013018

Special Listing Condition Standard

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Listed by Sean Rosenzweig Marcus & Millichap #01406343

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1323 11th ST Santa Monica, CA 90401