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$6,695,000

Beds
13
sq ft
7,424

301 Ashland Ave, Santa Monica, CA 90405

301 Ashland Ave

Santa Monica, CA 90405

  • 115 days on market
    • Price drop $5,000↓
ASSUMABLE FINANCING of approximately $3,800,000 @ 3.3% per annum for approx. 7.5 years, amortized over 30 years. Listed at $400,000 below the last sale. Exceptional 9-unit apartment building just 3 blocks to the beach. Seven of the nine units have been significantly renovated, including central heat/air, in-unit washers/dryers, appliances, kitchen and bathroom remodels, and contemporary flooring. Extensive exterior restoration including landscaping, all new windows, smooth re-stucco, hardware, front doors, handrails, new concrete parking surfaces, new electrical panel and meters, and much more. Unit mix features five 1-bedroom units and four 2 bedrooms, 2 bath units, 2 of the units having a penthouse like feeling with private ocean view decks. There are two long-time tenants paying a miniscule of their market-value. Current ownership has NOT offered these two tenants cash for keys. 16 off-street parking spaces.

Details

Property type

Est. home value

$6,734,556

Lot size

7,729 sq ft

Price per sq ft

$902

Year built

1960

HOA

No

Price History

07/30/2024
CLAW

CLAW #24420295

Price change
$6,695,000
-0.07%
07/29/2024
CLAW

CLAW #24420295

Listed
$6,700,000
07/23/2024
CLAW

CLAW #24358587

Removed
$6,700,000

Schools & Community

Neighborhood: 

Ocean Park

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

Umpqua Bank

Loan start date

February 2022

Original loan amount

$3,800,000

Est. remaining balance

Not provided

Interest rate

3.12%

Loan type

Commercial

Seller

Syy Group 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: 11/21/2024 at 11:55 PM

Listing updated: 09/30/2024 at 9:20 AM

Listed by: Peter V Buonocore, Keller Williams Larchmont Phone #: (323) 762-2600

MLS: CLAW #24420295

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