729 Cedar ST new Save Request In-Person Tour Request Virtual Tour
Santa Monica,CA 90405
Key Details
Property Type Multi-Family
Sub Type Quadruplex
Listing Status Active
Purchase Type For Sale
MLS Listing ID SB25201120
HOA Y/N No
Year Built 1954
Lot Size 5,993 Sqft
Property Sub-Type Quadruplex
Property Description
Introducing a meticulously maintained investment opportunity in the heart of Santa Monica's sought-after Ocean Park neighborhood. Walkable distance from the beach and two blocks from the peaceful greenery of Joslyn Park, this solid asset offers exceptional value with a current CAP rate of 2.85%. Current expenses include a property management fee, $6,000 per year, so if the Buyer elects to self-manage the property and thereby eliminates management expenses, the potential CAP rate could increase to 3.1%, with a potential market CAP rate of 4.5% with market rents. Residents enjoy quick access to many everyday conveniences along Lincoln Boulevard, including Gelson's, Whole Foods Market, popular coffee shops, and a wide variety of restaurants, as well as the vibrant shops and dining of Abbot Kinney and Main Street. Santa Monica's excellent Transit Score of 75 and Bike Score of 72 make every destination within easy reach.
Location
State CA
County Los Angeles
Area C14 - Santa Monica
Zoning SMOP2*
Interior
Heating Central
Cooling None
Fireplaces Type Living Room
Fireplace Yes
Laundry Common Area
Exterior
Parking Features Door-Single,Garage
Garage Spaces 1.0
Carport Spaces 4
Garage Description 1.0
Pool None
Community Features Urban
Utilities Available Electricity Connected,Natural Gas Connected,Sewer Connected,Water Connected
View Y/N No
View None
Total Parking Spaces 5
Private Pool No
Building
Lot Description 0-1 Unit/Acre
Faces South
Story 2
Entry Level Two
Sewer Public Sewer
Water Public
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 4287001013
Acceptable Financing Conventional
Listing Terms Conventional
Special Listing Condition Standard