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$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

CRMLS #SB24155287

Price change
$4,950,000
-10%
07/29/2024
CRMLS

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

CRMLS logo

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