2103 3rd ST

SANTA MONICA, CA, 90405

$7,000,000

$568 per ft²
$7,000,000
$568 per ft²
Active
Active
 - For Sale
beds
6 Beds
baths
8 Baths
carpenters-square
12,321 ft²
property_type
Multi-family
calendar
Built 1905
One of the most architecturally unique buildings in all of Santa Monica! 2103 3rd St is a 16-unit asset located in the beautiful Santa Monica submarket, Ocean Park. The subject property is legally 15 units and has one nonconforming studio unit. This "A+" location, with great curb appeal, is located just minutes from the beach! This 16 value-add deal has over 30% upside in rents, once units are rented for the market. 7 units will be delivered tenant-ready offering immediate upside! 2103 3rd St has a great unit mix of (9) 1-Bd/1-Ba, (4) 2- Bd/1-Ba & (3) Studio units. These spacious units feature hardwood flooring and high ceilings. There are also 20 onsite parking spots for tenants, some being covered parking. There is also a laundry room onsite. There is still plenty of room to increase the rents and achieve a 6.34% Market CAP and 11.55 GRM. The subject property is only minutes away from millions of dollars in development, including Third Street Promenade, Santa Monica Airport, Miramar Hotel, and multiple mixeduse projects. This value-add property is an ideal pickup for any investor looking for a trophy asset with plenty of upside, in an A+ location.
MLS® ID:
SB22152092MR
Listed:
7/13/22
Updated:
9/30/22

Interior Features

Total Bedrooms
6
Total Bathrooms
8
Laundry Description
Laundry Area

Exterior/Building Features

Lot Size
0.29 acres lot
Sewer
Public Sewer

Other Property Details

Garage
Yes
Garage Spaces
2
Parking
Y
Parking Total
20.0
View
N
County
Los Angeles
Water Source
Public
Pool
No
Pool Description
None
Zoning
SMOP2*

 

Courtesy of Cameron Samimi, Lyon Stahl Investment Real Estate, Inc.

Based on information from The MLSTM / Combined LA/Westside Multiple Listing Service, Inc. IDX information is provided exclusively for consumers' personal, non-commercial use, it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All information is deemed reliable but not guaranteed and should be independently reviewed and verified. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. All properties are subject to prior sale, change or withdrawal, and may or may not be listed by the office/agent presenting the information. Neither listing broker(s) nor Rindenow Group shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. 

©2022 Combined L.A./Westside MLS. All rights reserved.

Data last updated 9/30/22

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