Multifamily
1323 11th Street
1323 11th St, Santa Monica, CA 90401
Listing Price: $4,800,000
Investment Overview
Marcus & Millichap, as the exclusive listing agent, is pleased to offer the opportunity to acquire 1323 11th Street, a 10 unit partially renovated apartment community located in Santa Monica. Situated between Santa Monica Boulevard and Wilshire Boulevard, the subject property is located within walking distance to the 3rd Street Promenade and provides easy access to everyday amenities.
Consisting of one building on a 7,485 square foot parcel, the property is comprised of seven one-bedroom units, and three two-bedroom units. Current Ownership has extensively renovated 80 percent of the units and feature new flooring throughout, newly remodeled kitchen with modern quartz countertops, new stainless-steel appliances, stainless-steel dishwasher, stainless-steel stove/oven, large farmhouse style stainless-steel sink, large open dining area and living room area. Renovated Units also include new remodeled bathrooms, modern vanity, spacious closets, and cabinet space throughout unit.
1323 11th Street provides investors a rare buying opportunity that provides an immediate healthy income stream, with remaining rental upside in a prime coastal market.
1323 11th Street
Investment Highlights
- Extremely Rare Opportunity to Acquire a Renovated Apartment Building North of Santa Monica Boulevard in Santa Monica
- The Government Required Seismic Retrofit Work has Been Completed Which Saves a New Investor Substantially in Capital and Time
- Residents Can Easily Access the 10 Freeway and Major Thoroughfares Such as Wilshire, Santa Monica, and Olympic Boulevards Within Five Minutes
- Fifteen Minute Walk to the 3rd Street Promenade
- 80% Renovated and Upgraded Asset with Remaining Value-Add
- Investors Can Expect to Have Low Repair & Maintenance Expenses as Current Ownership Has Made Extensive Renovations Over the Last Few Years
Exclusively Listed By
Financing By
Listing Price: $4,800,000
Investment Highlights
- Extremely Rare Opportunity to Acquire a Renovated Apartment Building North of Santa Monica Boulevard in Santa Monica
- The Government Required Seismic Retrofit Work has Been Completed Which Saves a New Investor Substantially in Capital and Time
- Residents Can Easily Access the 10 Freeway and Major Thoroughfares Such as Wilshire, Santa Monica, and Olympic Boulevards Within Five Minutes
- Fifteen Minute Walk to the 3rd Street Promenade
- 80% Renovated and Upgraded Asset with Remaining Value-Add
- Investors Can Expect to Have Low Repair & Maintenance Expenses as Current Ownership Has Made Extensive Renovations Over the Last Few Years
Investment Overview
Marcus & Millichap, as the exclusive listing agent, is pleased to offer the opportunity to acquire 1323 11th Street, a 10 unit partially renovated apartment community located in Santa Monica. Situated between Santa Monica Boulevard and Wilshire Boulevard, the subject property is located within walking distance to the 3rd Street Promenade and provides easy access to everyday amenities. Consisting of one building on a 7,485 square foot parcel, the property is comprised of seven one-bedroom units, and three two-bedroom units. Current Ownership has extensively renovated 80 percent of the units and feature new flooring throughout, newly remodeled kitchen with modern quartz countertops, new stainless-steel appliances, stainless-steel dishwasher, stainless-steel stove/oven, large farmhouse style stainless-steel sink, large open dining area and living room area. Renovated Units also include new remodeled bathrooms, modern vanity, spacious closets, and cabinet space throughout unit. 1323 11th Street provides investors a rare buying opportunity that provides an immediate healthy income stream, with remaining rental upside in a prime coastal market.
Exclusively Listed By
Financing By
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