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1540 7Th St

Santa Monica, CA 90401
  • $7,500,000
  • STATUS: Active
  • ON SITE: 128 Days
  • ID#: 21-748066
UPDATED: 38 min ago
$7,500,000
  • 0
    BEDS
  • 0.17
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 9,434
    SQFT
  • $795
    $/SQFT
Neighborhood:
Type:
Multi-Family
Built:
1986
County:
Area:

School Ratings & Info

Description

We are proud to present this significant price reduction for 1540 7th Street in Downtown Santa Monica, California. Built in 1986 and renovated in 2006, this 9,434 SF mixed-use property consists of both office and multi-family units, with the potential for future redevelopment, highlighted in the Downtown Santa Monica Specific Plan.1540 7th Street is currently laid out as a three-story creative office/live-work building, comprising of 8 units in total. The building is zoned SMC3*/TA (Transit Adjacent), and has a parking ratio of approximately 2.00/1,000 SF, secured through a private garage. The building is currently 50% occupied with three vacant office units totaling 4,715 SF. All Tenants are on month-to-month leases, giving an investor or owner/user the opportunity to quickly add value or run their business while obtaining historically low financing.

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Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-10-18T18:42:54.81. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
www.randyplaice.com/homes/118166015
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1540 7Th St Santa Monica, CA 90401

  • Price: $7,500,000
  • Status: Active
  • Updated: 38 min ago
  • ID#: 21-748066
0
Beds
0
Baths
0
½ Baths
0.17
Acres
9,434
SQFT
$795
$/SQFT
1986
Built
Neighborhood:
Santa Monica
County:
Los Angeles
Area:
Santa Monica
Property Description
We are proud to present this significant price reduction for 1540 7th Street in Downtown Santa Monica, California. Built in 1986 and renovated in 2006, this 9,434 SF mixed-use property consists of both office and multi-family units, with the potential for future redevelopment, highlighted in the Downtown Santa Monica Specific Plan.1540 7th Street is currently laid out as a three-story creative office/live-work building, comprising of 8 units in total. The building is zoned SMC3*/TA (Transit Adjacent), and has a parking ratio of approximately 2.00/1,000 SF, secured through a private garage. The building is currently 50% occupied with three vacant office units totaling 4,715 SF. All Tenants are on month-to-month leases, giving an investor or owner/user the opportunity to quickly add value or run their business while obtaining historically low financing.
Exterior Features

Lot Size Area 7502 Other Structures None Parking Garage Covered Parking Total Parking 0

Interior Features

Baths Total 0.00 Cooling Other Equipment Other Heating Other

Property Features

Assessed Total Value 4898027 Gross Income 370470 Gross Operating Income 370470 Like Units1 2 Like Units2 1 Like Units3 1 Net Operating Income 216315.00 Number Of Buildings 1 Number Of Units 8 Sale Type Standard Source Living Area Other Source Lot Size Area Vendor Enhanced Total Annual Expense 154155 Type Of Units Mixed Use Year Built Source Vendor Enhanced Zoning Smc3*

Listing provided courtesy of Filip Niculete DRE#01905352 of Marcus & Millichap.


Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-10-18T18:42:54.81. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
 
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Randy Plaice and Associates | RE/MAX Gateway
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