821 Maple Street, Santa Monica, CA 90405
Property · 2 recorded sales since 2023
Sold October 2024
Listing Agent: Armin Soleimani (DRE #01846872) · Listing Office: Global Platinum Properties, Inc. · Contact: 424-394-1030 · Bought with: Jaisen Rybakov · Compass · MLS #24436183 · Source: CRMLS
About this property
Discover an excellent investment opportunity with this remarkable property, featuring six cash-flowing units with a solid 5.08% cap rate and a per-unit cost of under $350,000. Three of the six units have already been renovated to meet modern living standards, complete with in-unit washer/dryers, ensuring higher rental demand and tenant satisfaction. The other three units offer considerable upside potential, with an aggregate 40% increase in rent achievable for the property, providing an excellent opportunity for the new owner to boost returns.The smart layout offers two spacious upstairs units, each with two bedrooms and one bathroom, complemented by expansive balconies perfect for enjoying warm Santa Monica evenings. Meanwhile, the four downstairs units feature one-bedroom layouts, ideal for singles or couples, providing a versatile mix of living options. All units are currently leased, guaranteeing immediate cash flow, and the property includes six on-site surface parking spaces, a rare find in this area, adding both convenience and desirability.Located less than one mile from sun-kissed beaches, the world-famous Main Street, Rose Avenue, and Santa Monica College, this property offers residents an unparalleled coastal lifestyle in one of the most desirable neighborhoods in Santa Monica. The area is known for its vibrant community, trendy dining, boutique shopping, and cultural attractions, which consistently drive demand for quality rental housing. Additionally, this property is situated in a rapidly appreciating neighborhood, offering significant long-term upside potential for investors.In such a competitive market where multi-unit properties are scarce and tend to sell quickly, this is a golden opportunity to expand your portfolio or enter the market with a high-performing, cash-flowing asset in a fantastic location. With the potential for rent increases and property appreciation, coupled with possible tax benefits associated with owning investment real estate, this property represents a smart and strategic investment. Don't miss out on this chance to secure a valuable asset with considerable upside potential.
Listing description from the October 2024 sale, as reported to CRMLS.
Sale history
