11-Bedroom ResidentialIncome — 824 Maple Street, Santa Monica, CA
$2,650,000
824 Maple Street, Santa Monica, CA
About this property
$325,000 Price Reduction!!! The property is fully occupied and currently offered at a 11.58 GRM and 5.87 CAP rate, at CURRENT RENTS! Roque & Mark Co. is pleased to represent this well maintained 6-unit apartment building in the Ocean Park neighborhood of Santa Monica. This property is only 6 blocks to Main St. and 8 blocks to the beach. The front unit is a huge 3 bedroom + 3 baths "Owner's Unit" that is approx. 2,000 sf. It has a private, 4 car oversized attached garage with additional driveway parking. Excellent unit mix consisting of (1) 3 beds + 3 baths, (3) 2 beds + 2 baths, and (2) 1 bed + 1 bath + bonus room. The bonus rooms function like a bedroom, just without a closet. The entire building has upgraded dual paned windows. 5 additional parking spaces located off the alley. Every unit has a reserved parking space. All soft-story retrofitting and balcony inspections have been completed. Several units have been luxuriously upgraded. For investors, this is an opportunity to acquire a solid, well-located coastal multifamily asset with lasting appeal and upside potential in an area known for high barriers to entry and enduring desirability. This is a quiet street despite its close proximity to shops, cafes, and restaurants. Subject to City of Santa Monica rent control.
Property details
Location
824 Maple Street • Santa Monica, CA 90405
Listed by
David Schuchman · Roque & Mark Company, Inc.