$4,950,000
- Beds
- Unknown
- sq ft
- 7,937
2306 3rd St, Santa Monica, CA 90405
2306 3rd St
Santa Monica, CA 90405
- 116 days on market
- Price drop $550,000↓
Situated in the picturesque Ocean Park neighborhood of Santa Monica, 2306 3rd Street stands as a rare gem for investors seeking a prestigious addition to their portfolio. Sitting on a double lot, this legacy 12-unit property features an eclectic mix of residential options, including (1) 4-unit building, (1) duplex, (1) single-family residence with an attached studio, and (4) detached bungalows. With a unit mix of (3) 2-bed/1-bath, (8) 1-bed/1-bath, and (1) studio, the property offers a total of 7,937 square feet of rentable space on a generous 12,703 square foot lot.
Boasting a 4.25% CAP rate and a market CAP rate of 6.35%, the investment potential is substantial. Residents enjoy the perfect blend of comfort and convenience, enhanced by the property's prime location. Positioned just blocks from the beach and within walking distance of top-tier retail and restaurants, 2306 3rd Street benefits from its enviable location between Venice Beach and Downtown Santa Monica.
Whether you're seeking steady returns or aiming to capitalize on the area's dynamic growth, this property represents a compelling opportunity in coveted location.
Details
Property type
Mixed Use
Lot size
6,219 sq ft
Price per sq ft
$624
Year built
1924
Price History
10/21/2024
CRMLS #SB24155287
Price change
$4,950,000
-10%
07/29/2024
CRMLS #SB24155287
Listed
$5,500,000
Schools & Community
Neighborhood:
Ocean Park
Elementary school:
Unknown
Middle school:
Unknown
High school:
Unknown
Status: Active
Tomo last checked: 11/22/2024 at 12:00 AM
Listing updated: 10/22/2024 at 10:20 AM
Listed by: Brett Lyon, Lyon Stahl Investment Real Estate, Inc. Phone #: (310) 425-9838
MLS: CRMLS #SB24155287
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