$ 2,485,000
-
$2,485,000
Price -
7
Bed -
5
Bath -
3,219
SqFt
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About the Listing CLW-S2000142 - CLW-S56274
This exceptionally charming 5-unit multi-family property presents an incredible investment opportunity in a prime Santa Monica location. Built in 1938 this updated property has immense appeal and offers long-term growth potential. The property has been meticulously maintained. There are three 1 bedroom/1 bathroom units plus two 2 bedroom/1 bathroom units. Four of the five units have been remodeled; three feature in-unit laundry, the other two units have private laundry inside their garage. There are refinished hardwood floors, three of the five units have split AC units, quartz/granite countertops and tiled showers. In January 2025 a new roof was installed on the rear building, and in late 2024 the front building was recoated. Two of the front units have individual enclosed garages; three units have assigned parking. This property offers both immediate rental income and long-term growth potential. This property has just undergone significant capital improvements including soft story/seismic retrofit work, resulting in a building that is fully stabilized and ready to go. Centrally located near transportation, schools, shopping, parks, and the best Santa Monica has to offer. Operating at a 100% occupancy, the property yields a highly attractive Pro-Forma Cap Rate of 4.69%. The current tenants are professionals and the units are well maintained. This is a fantastic opportunity for investors seeking a steady cash flow in a thriving, rent resilient market. There is an excellent property management company in place. This is rare turnkey acquisition.
Listing Highlights
Status
Active
Days on Site
43
Property Type
Multi-Family
MLS ®
26654207
Year Built
1938
Total Square Footage
3,219
Lot/Acreage
0.16
County
Los Angeles
Area
C14 - Santa Monica
Interior Details
- Bedrooms: 7
- Bathrooms: 5 Full
- Appliances: Refrigerator, Dryer, Washer
- Air Cond:
- Heating: Wall Furnace
- Fireplaces:
- Floor: Wood
- Above Ground Sq Ft:
- Below Ground Sq Ft: n/a
- Basement:
- Other:
- Water:
Exterior Details
- Lot Description: No Land Lease
- Garage Capacity: N/A
- Parking Spaces: 0
- Lot Dimensions: 50x135
- Zoning: SMR2*
- Roof:
- Others: 2+ Total Units
- Sewer:
- Parking Features: Assigned
Financial Details
- Tax Amount: N/A
- Taxes w/Assessments: N/A
- Tax/Property ID: 4273019010
- Tax Year: N/A
Payment Calculator
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Questions About..
2517 20th St Santa Monica, CA 90405
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