We are proud to present The Seaside, a tranquil retreat located in the charming beachside community of Ocean Park in the City of Santa Monica. Situated on the quiet residential street of Highland Ave., this unique property, which is just 6 blocks from the beach, offers an amazing opportunity and endless possibilities for either someone looking to call this property home or a seasoned investor.
*The property is not subject to Santa Monica Rent Control, allowing for 5% + CPI annual rent increases per AB 1482, was originally built in 1920 and in 1988, the construction of (2) detached apartment units and workshop was completed. Over the course of the last few years, the property has undergone extensive renovation to both the main home, as well as the apartment units.
This wonderful opportunity encompasses an impressive 3,802 sq ft. building and consists of a 4 Bedroom + 3 Bath Two-Story Single-Family Home with a private 106 sq ft. 3rd-floor rooftop terrace, as well as (2) detached 2-Bedroom apartment units averaging 895 sq ft. in a 3-story structure with the 4th floor consisting of a massive 628 sq ft. sundeck and lounge with partial views of the Pacific Ocean and surrounding city.*In addition, there’s a 1st floor, non-conforming studio unit that could be used as an office or potentially converted into a legal apartment unit.
Each of these fantastic units is individually metered for gas and electricity, and offers individual hot water heaters, further lowering utility costs, as well as an on-site laundry facility for tenants.
Though certain upgrades have been made, there is still a considerable amount of value to add to this incredible property, as well as a tremendous amount of rental income that has yet to be unlocked, making The Seaside an incredible opportunity.
(1) Four-Bedroom + Three-Bath House – 1,708 sq ft.
(1) Two-Bedroom + Two-Bath – 895 sq ft.
(1) Two-Bedroom + One-Bath – 895 sq ft.
(1) Studio + One-Bath (*Non-Conforming Unit) – 306 sq ft.
Santa Monica’s real estate market is characterized by high demand and limited supply, resulting in property values that are among the highest in the region.
*Buyer to Verify with the City of Santa Monica
**All material presented herein is intended for discussion purposes only. It is the sole responsibility of the Buyer to conduct their own due diligence as to the accuracy of the information contained herein and the Seller nor their agents make any warranties expressed or implied
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Property Details
Property
Stories:4
Lot description:Garden
Measurements
Acres:0.1111
Parking
Parking spaces:4
Construction Details
Type & Style
Property type:Multi-Family
Condition
Year built:1988
Utilities / Energy Details
Utility
Sewer information:PublicSewer
Utility source:Public
Community and Neighborhood Details
Location
County:Los Angeles
Financial Details
Pricing Details
Original List Price:$2, 995, 000
Other
Source
MLS #:SR24189485
Location
Legal
The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.
Based on information from California Regional Multiple Listing Service, Inc. as of the most recent time synced and /or other sources. 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
Last Updated: . Source: CRMLS
Listing Courtesy Listing Agent: Raymond Rodriguez Listing Office: Equity Union
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Note: The results shown are estimates only and do not include all factors. Speak with a licensed agent or loan provider for exact details. This tool is sourced from CloseHack.
