848 18th Street, Santa Monica, CA 90403

About this property

Seven generously sized 2+2 units nestled in an excellent Santa Monica location. This property offers a solid 4.99% in-place Cap rate. Modern features such as copper plumbing, upgraded electrical systems including electrical car chargers in parking area, and a newer roof (2018) ensure durability and efficiency. Four the units have been upgraded with in-unit washers/dryers. Security is enhanced with newly gated premises, providing peace of mind to occupants. Additionally, a newly installed water heater adds further value to the property.Furthermore, investors will find potential for expansion with plans ready to submit for an Additional Dwelling Unit (ADU), capitalizing on the demand for flexible living spaces. Please contact us for an OM.

Listing description from the April 2024 sale, as reported to CRMLS.

Sale history

$4,750,000

Sold April 2024 · listed $4,850,000, on market March 2024 · MLS #24371487 · Source: CRMLS

Listing Agent: Kelly Morgan · Listing Office: Houze Real Estate Management · Contact: 323-852-1372 · Bought with: Chase Simonton · RE/MAX One

$4,000,000

Sold August 2019 · listed $4,150,000, orig. $4,450,000, on market February 2019 · MLS #19430156 · Source: CRMLS

Listing Agent: David Schuchman · Listing Office: Roque & Mark Company, Inc. · Contact: 310-829-4757 · Bought with: Peter Ciriello · LA Commercial

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