Property
| Ownership: | For Sale |
|---|---|
| Bedrooms: | 7 BR |
| Bathrooms: | 7 |
| Area: | 7503 sq ft |
| Lot Size: | 0.17 Acres |
FinancialsPrice: $3,600,000
| Price: | $3,600,000 |
|---|
DescriptionOver 5% CAP and stabilized 7 unit apartment building at 902 16th St. apartment is located in a prime Santa Monica neighborhood just one block south of Montana Ave., known for its upscale shopping and dining offering a charming and sophisticated atmosphere close to the beach. Carefully cared for and meticulously managed, this building features bright units with abundant windows and spacious balconies in some units. New roof was also installed this year to the middle structure. Exterior landscaping includes fruit trees and flower beds lining in the front and backyard. Comprising three distinct buildings, the property includes:* Building #1- facing 16th Street with four units: 902A & 904A on the ground floor, and 902B & 904B upstairs. Each floor shares a washer/dryer set between two units.* Building #2- standalone one-bedroom house at 1522 Idaho Ave, facing Idaho Ave.* Building #3- Two one-bedroom units situated above five garages facing Idaho Ave. 3 Units on Idaho Ave share a laundry room. This trophy property weathered the pandemic rental market downturn and historically has experienced low vacancy and fast turnovers. It offers a rare blend of prime location and sound investment, ideal for discerning buyers looking to invest in a well-maintained asset with steady rental income.
Neighborhood
Over 5% CAP and stabilized 7 unit apartment building at 902 16th St. apartment is located in a prime Santa Monica neighborhood just one block south of Montana Ave., known for its upscale shopping and dining offering a charming and sophisticated atmosphere close to the beach. Carefully cared for and meticulously managed, this building features bright units with abundant windows and spacious balconies in some units. New roof was also installed this year to the middle structure. Exterior landscaping includes fruit trees and flower beds lining in the front and backyard. Comprising three distinct buildings, the property includes:* Building #1- facing 16th Street with four units: 902A & 904A on the ground floor, and 902B & 904B upstairs. Each floor shares a washer/dryer set between two units.* Building #2- standalone one-bedroom house at 1522 Idaho Ave, facing Idaho Ave.* Building #3- Two one-bedroom units situated above five garages facing Idaho Ave. 3 Units on Idaho Ave share a laundry room. This trophy property weathered the pandemic rental market downturn and historically has experienced low vacancy and fast turnovers. It offers a rare blend of prime location and sound investment, ideal for discerning buyers looking to invest in a well-maintained asset with steady rental income.
902 16th St 7.0 Santa Monica LA
DescriptionOver 5% CAP and stabilized 7 unit apartment building at 902 16th St. apartment is located in a prime Santa Monica neighborhood just one block south of Montana Ave., known for its upscale shopping and dining offering a charming and sophisticated atmosphere close to the beach. Carefully cared for and meticulously managed, this building features bright units with abundant windows and spacious balconies in some units. New roof was also installed this year to the middle structure. Exterior landscaping includes fruit trees and flower beds lining in the front and backyard. Comprising three distinct buildings, the property includes:* Building #1- facing 16th Street with four units: 902A & 904A on the ground floor, and 902B & 904B upstairs. Each floor shares a washer/dryer set between two units.* Building #2- standalone one-bedroom house at 1522 Idaho Ave, facing Idaho Ave.* Building #3- Two one-bedroom units situated above five garages facing Idaho Ave. 3 Units on Idaho Ave share a laundry room. This trophy property weathered the pandemic rental market downturn and historically has experienced low vacancy and fast turnovers. It offers a rare blend of prime location and sound investment, ideal for discerning buyers looking to invest in a well-maintained asset with steady rental income.
Neighborhood
Over 5% CAP and stabilized 7 unit apartment building at 902 16th St. apartment is located in a prime Santa Monica neighborhood just one block south of Montana Ave., known for its upscale shopping and dining offering a charming and sophisticated atmosphere close to the beach. Carefully cared for and meticulously managed, this building features bright units with abundant windows and spacious balconies in some units. New roof was also installed this year to the middle structure. Exterior landscaping includes fruit trees and flower beds lining in the front and backyard. Comprising three distinct buildings, the property includes:* Building #1- facing 16th Street with four units: 902A & 904A on the ground floor, and 902B & 904B upstairs. Each floor shares a washer/dryer set between two units.* Building #2- standalone one-bedroom house at 1522 Idaho Ave, facing Idaho Ave.* Building #3- Two one-bedroom units situated above five garages facing Idaho Ave. 3 Units on Idaho Ave share a laundry room. This trophy property weathered the pandemic rental market downturn and historically has experienced low vacancy and fast turnovers. It offers a rare blend of prime location and sound investment, ideal for discerning buyers looking to invest in a well-maintained asset with steady rental income.
All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing or withdrawal without notice. International currency conversions where shown are estimates based on recent exchange rates and are not official asking prices.
All dimensions are approximate. For exact dimensions, you must hire your own architect or engineer.