Santa Monica, CA 90405,821 Maple Street
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Santa Monica, CA 90405,821 Maple Street
Santa Monica, CA 90405,821 Maple Street
Santa Monica, CA 90405,821 Maple Street
Santa Monica, CA 90405,821 Maple Street

$1,950,000

Est. payment /mo

$2,095,000

6.9%
Est.Price: ?

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821 Maple Street Santa Monica, CA 90405

3,904 SqFt

SOLD DATE : 10/30/2024

Key Details

Sold Price $1,950,000

Property Type Commercial

Sub Type Other

Listing Status Sold

Purchase Type For Sale

Square Footage 3,904 sqft

Price per Sqft $499

MLS Listing ID CL24436183

Sold Date 10/30/24

HOA Y/N No

Year Built 1950

Lot Size 6,471 Sqft

Acres 0.15

Property Description

Discover an excellent investment opportunity with this remarkable property, featuring six cash-flowing units with a solid 5.08% cap rate and a per-unit cost of under $350,000. Three of the six units have already been renovated to meet modern living standards, complete with in-unit washer/dryers, ensuring higher rental demand and tenant satisfaction. The other three units offer considerable upside potential, with an aggregate 40% increase in rent achievable for the property, providing an excellent opportunity for the new owner to boost returns.The smart layout offers two spacious upstairs units, each with two bedrooms and one bathroom, complemented by expansive balconies perfect for enjoying warm Santa Monica evenings. Meanwhile, the four downstairs units feature one-bedroom layouts, ideal for singles or couples, providing a versatile mix of living options. All units are currently leased, guaranteeing immediate cash flow, and the property includes six on-site surface parking spaces, a rare find in this area, adding both convenience and desirability.Located less than one mile from sun-kissed beaches, the world-famous Main Street, Rose Avenue, and Santa Monica College, this property offers residents an unparalleled coastal lifestyle in one of the most desirable neighborhoods in Sant

Location

State CA

County Los Angeles

Area Listing

Zoning SMR2

Interior

Heating Wall Furnace

Fireplace No

Building

Water Public

New Construction No

Others

Tax ID 4284007011

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Bridge MLS
Listed by Armin Soleimani • Global Platinum Properties, Inc.
Bought with JaisenRybakov
agent

Jodi Nishimura

Founder & Realtor® | License ID: 01762935

+1(510) 459-0471

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