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$21,995,000

Beds
47
sq ft
40,412

537 San Vicente Blvd, Santa Monica, CA 90402

537 San Vicente Blvd

Santa Monica, CA 90402

  • 149 days on market
    • Price drop $1,300,000↓
Huge price reduction!!!! We are pleased to offer for sale an incredibly rare multifamily asset at 537 San Vicente Blvd. in the heart of LA's famed beach city of Santa Monica. Originally built in 1957, the building boasts an ideal unit mix consisting of all large 1 & 2 bedroom units. All of these units are extremely spacious, have a terrific floor plan, and offer an abundance of natural light. There is significant rental upside, and on-site parking for 33 cars (and a wrap around driveway for additional parking), an on-site laundry facility and beautiful sparkling pool. The unit mix includes (19) 1-bed, 1-bath units, and (14) 2-bed, 2-bath units. This is a fantastic trophy asset in an undeniably attractive location that will surely pay long-term dividends to a savvy investor. A quick walk to Montana Avenue and the beach, this rare offering presents an astute investor with the unique opportunity to capitalize on higher market rents and to acquire a premier turnkey asset in one of the best rental locations in all of Los Angeles.

Details

Property type

Lot size

0.5087 acres

Price per sq ft

$545

Year built

1957

HOA

No

Price History

12/04/2024
CLAW

CLAW #24419953

Price change
$21,995,000
-5.58%
07/25/2024
CLAW

CLAW #24419953

Listed
$23,295,000
06/21/2024
CLAW

CLAW #24396827

Removed
$23,295,000

Schools & Community

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

Jpmorgan Chase Bank Na

Loan start date

September 2017

Original loan amount

$6,800,000

Est. remaining balance

Not provided

Interest rate

3.15%

Loan type

Commercial

Seller

537 San Vicente Blvd 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: 12/22/2024 at 8:15 AM

Listing updated: 12/04/2024 at 3:00 PM

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

MLS: CLAW #24419953

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