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$4,450,000

Beds
13
sq ft
7,764

1019 6th St, Santa Monica, CA 90403

1019 6th St

Santa Monica, CA 90403

  • 63 days on market
We are pleased to offer for sale an incredible multifamily asset located at 1019 6th Street in the heart of LA's famed beach city of Santa Monica. Originally built in 1956, the building boasts an ideal unit mix consisting of all large 1 & 2-bedroom floor plans. Each of these units is spacious, has a terrific layout, and offers an abundance of natural light. Perfect for a long-term investor, the property has incredible rental upside, an intercom entrance, ample on-site parking (soft story retrofit has been completed), all copper plumbing, a newer roof, as well as an on-site laundry facility. The unit mix includes (7) 1-bed, 1-bath units and (2) 2-bed, 2-bath units. Many of the units have been luxuriously upgraded to the highest standards with hardwood flooring, custom window shutters, stainless steel appliances and quartz countertops, central HVAC(select units), recessed lighting, upgraded electrical, and an in-unit washer and dryer (select units). This is a fantastic trophy asset in an undeniably attractive location that will be a perfect addition to an investor's portfolio. A quick stroll to downtown Santa Monica, Montana Avenue, and the beach, this property is situated close to all Santa Monica has to offer. With incredible in-place income, enormous rental upside potential, and a secured tenant base, 1019 6th Street gives buyers the unique opportunity to own a generational asset in one of LA's most prized and coveted locations.

Details

Property type

Est. home value

$4,955,116

Lot size

7,496 sq ft

Price per sq ft

$574

Year built

1956

HOA

No

Price History

09/03/2024
CLAW

CLAW #24434419

Listed
$4,450,000
05/22/2024
CLAW

CLAW #23333461

Removed
$4,450,000
04/17/2024
CLAW

CLAW #23333461

Price change
$4,450,000
-2.2%

Schools & Community

Neighborhood: 

Wilshire/Montana

Elementary school: 

Unknown

Middle school: 

Unknown

High school: 

Unknown

Seller’s Loan History

Before you make an offer, understand who you are negotiating with so you can tailor your negotiation strategy to their situation.

Lender

Wells Fargo Bank Na

Loan start date

June 2011

Original loan amount

$1,100,000

Est. remaining balance

Not provided

Interest rate

4.8%

Loan type

Commercial

Seller

6Th Street Property Investments Llc

Source: Public records data

If you're the owner, you can request to remove loan details. Email listingsupport@tomo.com

How insights can help you

Interest rate

If the seller has a low interest rate, they may be tempted to rent the property out if they can't get the price they have in mind.

Motivation

If the seller already got a job in a different city, they may feel pressure to sell quickly to free up cash for a new home.

Equity

If the seller stands to receive a large amount of cash when they sell the property, they might be willing to negotiate on the offer price.

Interested in learning more?

Status: Active

Tomo last checked: 11/05/2024 at 3:35 AM

Listing updated: 10/24/2024 at 1:40 PM

Listed by: Jonathan Taksa, Remax Commercial and Investment Realty Phone #: (213) 817-1000

MLS: CLAW #24434419

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