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    2721 6Th St

    Santa Monica, CA 90405
    • $10,700,000
    • STATUS: Active
    • ON SITE: 17 days
    • ID#: 20-626374
    UPDATED: 42 min ago
    $10,700,000
    • 28
      BEDS
    • 0.31
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 18,306
      SQFT
    • $585
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1971
    County:
    Area:

    Description

    Marcus & Millichap is pleased to present these 22 units, excellently located at 2721 6th Street, in Santa Monica, California. Built in 1971, the asset sits on 13,499 square feet of land with 18,306 square feet of rentable area and boasts a great unit mix of (2) Studio / 1-Bath, (12) 1-Bed / 1-Bath, and (8) 2-Bed / 2-Bath Units. This property, which has not been sold in over 15 years, contains very large and bright units, and some of the units have private balconies with amazing, panoramic views of the Pacific Ocean. Additionally, the roof top deck, which is accessible for all tenants, allows all tenants the opportunity to enjoy the unmatched ocean views. The roof top deck is a great avenue for value add potential where a savvy buyer could invest into making the roof top deck into a very desirable amenity, ultimately raising the market rents for all units. Lastly, with today's historically low interest rates, a qualified investor can receive a bank loan with a 3.25% interest rate.

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    Based on information from the Combined LA/Westside Multiple Listing Service as of 2020-09-18T15:43:11.47. 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/109557755
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    2721 6Th St Santa Monica, CA 90405

    • Price: $10,700,000
    • Status: Active
    • Updated: 42 min ago
    • ID#: 20-626374
    28
    Beds
    0
    Baths
    0
    ½ Baths
    0.31
    Acres
    18,306
    SQFT
    $585
    $/SQFT
    1971
    Built
    Neighborhood:
    Santa Monica
    County:
    Los Angeles
    Area:
    Santa Monica
    School District:
    Santa Monica-Malibu Unified School District
    Property Description
    Marcus & Millichap is pleased to present these 22 units, excellently located at 2721 6th Street, in Santa Monica, California. Built in 1971, the asset sits on 13,499 square feet of land with 18,306 square feet of rentable area and boasts a great unit mix of (2) Studio / 1-Bath, (12) 1-Bed / 1-Bath, and (8) 2-Bed / 2-Bath Units. This property, which has not been sold in over 15 years, contains very large and bright units, and some of the units have private balconies with amazing, panoramic views of the Pacific Ocean. Additionally, the roof top deck, which is accessible for all tenants, allows all tenants the opportunity to enjoy the unmatched ocean views. The roof top deck is a great avenue for value add potential where a savvy buyer could invest into making the roof top deck into a very desirable amenity, ultimately raising the market rents for all units. Lastly, with today's historically low interest rates, a qualified investor can receive a bank loan with a 3.25% interest rate.
    Exterior Features

    Covered Parking 28 Cross Streets 6th Street And Raymond Avenue Direction Faces West Entry Location Ground Level W/Steps Garage Structures Total 1 Levels Multi/Split Lot Size Area 13500 Other Structures None Parking Garage AssignedCovered ParkingControlled Entrance Patio Features BalconyRoof Top DeckPatio OpenDeck(S) Pool Description None Pool YN No Total Parking 28

    Interior Features

    Baths Total 30.00 Cooking Appliances Oven-ElectricOven-GasMicrowave Cooling Air Conditioning Equipment Alarm SystemGas Or Electric Dryer HookupDryerDishwasherMicrowave Flooring HardwoodLaminateMixedCeramic TileCarpet Heating Central Kitchen Features Counter TopGranite Counters Laundry CommunityLaundry AreaIn Unit Laundry Equipment Own

    Property Features

    Alley YN No Assessed Total Value 5298732 Gross Income 612636 Gross Operating Income 612636 Like Units1 2 Like Units2 12 Like Units3 8 Monthly Gross Income 51053.00 Net Operating Income 410945.00 Number Of Buildings 1 Number Of Units 22 Owner Pays GardenerWater Rent Control YN Yes Sale Type Standard Security Features Automatic GateGated Source Living Area Vendor Enhanced Source Lot Size Area Vendor Enhanced Source Lot Size Dimensions Other Tenant Pays GasElectricity Total Annual Expense 188628 Type Of Units Apartments Water Heaters YN Yes Year Built Source Vendor Enhanced Zoning Smop2*

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


    Based on information from the Combined LA/Westside Multiple Listing Service as of 2020-09-18T15:43:11.47. 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
    27720 Dickason Drive
    Valencia CA, 91355