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1122 9th ST Santa Monica, CA 90403
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Key Details
Sold Price $5,200,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Square Footage 10,352 sqft
Price per Sqft $502
MLS Listing ID SR19092041
Sold Date 11/27/19
HOA Y/N No
Year Built 1969
Lot Size 7,474 Sqft
Acres 0.1716
Property Description
UNDER 16 GRM & DELIVERED WITH 2 VACANT UNITS. 9th Street is a wonderful 10 unit apartment building located in the highly desirable Wilshire - Montana neighborhood of Santa Monica just north of Wilshire Blvd. An excellent unit mix of (80%) two bedrooms and large building foot print of over 10,300 SF (for 10 units) positions 9th Street to be able to potentially achieve excellent market rents post renovation. The strong in place income (15.92 GRM / 4.36% CAP on Current), future potential upside (12.10 GRM / 6.29% CAP at Market), and prime location surrounded by (restaurants, shops, landmarks, parks, schools, beaches, and hospitals) makes this stand out as a truly special offering.
Santa Monica is a beachfront city in western Los Angeles County, California, United States. Situated bordered on three sides by the city of Pacific Palisades to the north, Brentwood on the northeast, West Los Angeles on the east, Mar Vista on the southeast, and Venice on the south. Due in part to an agreeable climate, Santa Monica became a famed resort town by the early 20th century. The city has experienced a boom since the late 1980s through the revitalization of its downtown core, significant job growth, and increased tourism.
3rd Street Promenade - .7 Miles away | St. John's Hospital - 1.4 Miles | Santa Monica College - 1.7 Miles | Silcon Beach / Expo Line
Location
State CA
County Los Angeles
Area C14 - Santa Monica
Zoning SMR2*
Rooms
Ensuite Laundry Laundry Room
Interior
Laundry Location Laundry Room
Fireplace No
Laundry Laundry Room
Exterior
Garage Spaces 10.0
Carport Spaces 5
Garage Description 10.0
Pool None
Community Features Sidewalks, Park
Total Parking Spaces 15
Private Pool No
Building
Lot Description Near Park
Story 2
Entry Level Two
Sewer Public Sewer
Water Public
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 4281035005
Acceptable Financing Cash, Cash to New Loan, 1031 Exchange
Listing Terms Cash, Cash to New Loan, 1031 Exchange
Financing Cash to Loan
Special Listing Condition Standard
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Bought with LATORIA WILLIAMS • Legacy Real Estate