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Multifamily

301 Ashland Avenue

301 Ashland Ave, Santa Monica, CA 90405

Listing Price: $6,700,000

Cap Rate
3.95%
Number of Units
9
GRM
16.97
Price/Unit
$744,444
Price/Gross SF
$902.48
Gross SF
7,424

Investment Overview

Marcus & Millichap, as the exclusive listing agent, is pleased to offer for sale a nine-unit apartment community located at 301 Ashland Avenue. The subject property is located just three blocks from the beach, in an excellent Santa Monica location.

Situated on a 7,729 square foot parcel, the property is comprised of five one-bedroom units and four two-bedroom units with spacious layouts and offers 16 parking spaces. The property has undergone a comprehensive renovation program to the exterior, common area and majority of the interior units. 78% of the units feature stainless steel kitchen appliances, in-unit washer/dryer, central heat/AC, new flooring, new countertops, new bathrooms, new lighting & more. Exterior renovations include new windows in all units, new landscaping, new smooth stucco, new electric meters/panel, new front doors & more.

The continued growth of the surrounding submarket along with the high-quality interior & exterior renovations makes 301 Ashland Avenue an excellent investment opportunity poised for long term stability.

Investment Highlights

  • 78% of Units Have Been Upgraded with New Flooring, New Stainless-Steel Kitchen Appliances, Central Heat/AC, In-Unit Washer/Dryer, New Bathrooms, New Countertops & More.
  • Attractive Assumable Financing is Available at 3.30% interest, Amortizing with a Maturity Date of March 1st, 2052
  • The Government Required Seismic Retrofit Work is Already Completed, Which Saves a New Investor Substantially in Capital and Time
  • Offering 16 On-Site Parking Spaces for 9 Units in a Neighborhood Where Parking is at a Premium
  • Located Three Blocks from the Beach, Residents Enjoy Convenient Access to all the Retail, Entertainment, Restaurants and Nightlife that Santa Monica, Venice & Marine Del Rey Have to Offer
  • Generates Healthy Income Stream of More than $32,500 in Scheduled Rent Per Month
  • Current Ownership Has Attentively Managed and Maintained the Property

Exclusively Listed By

Financing By

Multifamily

301 Ashland Avenue

Listing Price: $6,700,000

Cap Rate
3.95%
Number of Units
9
GRM
16.97
Price/Unit
$744,444
Price/Gross SF
$902.48
Gross SF
7,424

Investment Highlights

  • 78% of Units Have Been Upgraded with New Flooring, New Stainless-Steel Kitchen Appliances, Central Heat/AC, In-Unit Washer/Dryer, New Bathrooms, New Countertops & More.
  • Attractive Assumable Financing is Available at 3.30% interest, Amortizing with a Maturity Date of March 1st, 2052
  • The Government Required Seismic Retrofit Work is Already Completed, Which Saves a New Investor Substantially in Capital and Time
  • Offering 16 On-Site Parking Spaces for 9 Units in a Neighborhood Where Parking is at a Premium
  • Located Three Blocks from the Beach, Residents Enjoy Convenient Access to all the Retail, Entertainment, Restaurants and Nightlife that Santa Monica, Venice & Marine Del Rey Have to Offer
  • Generates Healthy Income Stream of More than $32,500 in Scheduled Rent Per Month
  • Current Ownership Has Attentively Managed and Maintained the Property

Investment Overview

Marcus & Millichap, as the exclusive listing agent, is pleased to offer for sale a nine-unit apartment community located at 301 Ashland Avenue. The subject property is located just three blocks from the beach, in an excellent Santa Monica location. Situated on a 7,729 square foot parcel, the property is comprised of five one-bedroom units and four two-bedroom units with spacious layouts and offers 16 parking spaces. The property has undergone a comprehensive renovation program to the exterior, common area and majority of the interior units. 78% of the units feature stainless steel kitchen appliances, in-unit washer/dryer, central heat/AC, new flooring, new countertops, new bathrooms, new lighting & more. Exterior renovations include new windows in all units, new landscaping, new smooth stucco, new electric meters/panel, new front doors & more. The continued growth of the surrounding submarket along with the high-quality interior & exterior renovations makes 301 Ashland Avenue an excellent investment opportunity poised for long term stability.

Exclusively Listed By

Financing By

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