836 Ashland Avenue, Santa Monica, CA 90405
Property
Sold January 2024
Listing Agent: Jonathan Taksa (DRE #01366169) · Listing Office: Remax Commercial and Investment Realty · Contact: 213-817-1000 · Bought with: Kimiyasu Murayoshi · Andrew C. Lee · MLS #23305585 · Source: CRMLS
About this property
4.41 CAP Rate, 14.54 GIM and $387/SF in PRIME OCEAN PARK. We are pleased to offer for sale an incredible multifamily asset at located at 836 Ashland Avenue in the heart of LA's famed beach city of Santa Monica. Originally built in 1968 and ideally situated in the Ocean Park section of the city, the building boasts an incredibly rare unit mix consisting of all extremely large 2-bedroom 2 bath and 3-bedroom 2 bath units. Each of these units is extremely spacious and has a terrific floor plan. The property is situated on an oversized corner lot; thus, all units offer an abundance of natural light. There is HUGE rental upside, as current rents hover around $2,07/SF. Additionally, there is parking for all units as well as an on-site laundry facility. The large 3-bedroom unit is currently vacant, providing an excellent opportunity for the owner user looking to live in an ideal location and collect significant rental income. This is a fantastic trophy asset in an undeniably attractive location that will surely pay long-term dividends to a savvy investor.This rare offering presents an astute investor with the unique opportunity to capitalize on higher market rents and to acquire a premier turnkey asset in one of the best rental locations in all of Los Angeles.
Listing description from the January 2024 sale, as reported to CRMLS.
Sale history