**Seller is offering a rate buy down to 5.625% for qualified buyers, lowering the monthly mortgage payments by nearly $1,000! This property and rate will not last! After net expenses, a buyer could expect to pay approximately $1,993 per month which is less than the average rent in Santa… Read More Monica!** This turnkey Mid-Century style triplex is located in the heart of Santa Monica's Sunset Park, just steps from everything Ocean Park Blvd has to offer. It's perfect for someone looking to live in one unit and rent out the others.The property includes two fully remodeled vacant 1-bedroom units and a studio unit, allowing a buyer the opportunity to move in immediately at the close of escrow. Each unit features hardwood floors, vaulted ceilings, recessed lighting, AC, and stylish finishes like backsplash tile and stainless steel appliances in the kitchen. The one-bedroom units each enjoy a huge private fenced patio which will extend your living and entertaining space, especially for those beautiful Santa Monica summer days. As a bonus, this gives a big boast to your potential rental income. Major system upgrades include copper plumbing, updated drain lines, updated electrical, and new water heaters, giving peace of mind to any buyer. Additionally, on-site storage containers offer extra utility and can generate additional income. A buyer can also build 3 additional units and generate up to a 8.37% cap rate! With an unbeatable walk score, this property is located near Trader Joe's, Whole Foods, Clover Park, Grant Elementary, John Adams Middle School, and a variety of local cafes and restaurants. A perfect fit for a young professional, couple, or small family, this duplex offers the ideal combination of lifestyle, location, and long-term upside in a highly sought-after Santa Monica neighborhood. Read Less
Listing Snapshot
Days Online
43
Last Updated
Property Type
Other
Beds
3
Square Ft.
1,122
Lot Size
0.08 Acres
Year Built
1948
MLS Number
25544989
30 Days Snapshot Of 90405
$2.29M
+39%
(avg) sold price
15
+15%
homes sold
63
-12%
(avg) days on market
Snapshot
Area Map
Additional Details
Appliances & Equipment
Dishwasher, Microwave
Building
Built in 1948, Building area total: 1,122, Levels: One, Living area: 1122, 1 story, 1 building
Income
Gross income: $99,000, Net operating income: $72,609
Lot
0.075 acres, 3,266 square feet, Size: 3,266
Parking
3 totals parking, Carport
Property
Zoning: SMR3*
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Based on information from California Regional Multiple Listing Service, Inc. as of 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.
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