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    1118 11th Street

    Santa Monica, CA 90403
    • $4,650,000
    • STATUS: Active
    • ON SITE: 113 days
    • ID#: SB21012586
    UPDATED: 18 min ago
    $4,650,000
    • 0
      BEDS
    • 0.17
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 6,948
      SQFT
    • $669
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1940
    County:

    School Ratings & Info

    Description

    1118 11th St is an 11-unit building located north of Wilshire Boulevard, in one of the premier residential neighborhoods in the Country. The front building was built in 1940 and the back building was built in 1958. The two buildings consists of 6,948 SF of living space situated on a large 7,497 SF lot. The property offers a great unit mix consisting of (1) 3-Bed/2-Bath, (1) 2-Bed/1-Bath, (8) 1-Bed/1-Bath, and (1) Studio. The property also features an on-site laundry facility and (5) 1-car garages and (3) carports. There is over 50% in upside rent potential & two units can be delivered vacant at the close of escrow. Located exactly 7 blocks from the 3rd Street Promenade, this is an incredible opportunity for any investor seeking growth stability and a hedge against inflation.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2021-05-14T22:35:16.487. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Team Tami | Palm Realty Boutique. Licensed in the State of California, USA.
    www.playavistaliving.com/homes/113436700
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    1118 11th Street Santa Monica, CA 90403

    • Price: $4,650,000
    • Status: Active
    • Updated: 18 min ago
    • ID#: SB21012586
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.17
    Acres
    6,948
    SQFT
    $669
    $/SQFT
    1940
    Built
    Neighborhood:
    C14 - Santa Monica
    County:
    Los Angeles
    Area:
    C14 - Santa Monica
    Property Description
    1118 11th St is an 11-unit building located north of Wilshire Boulevard, in one of the premier residential neighborhoods in the Country. The front building was built in 1940 and the back building was built in 1958. The two buildings consists of 6,948 SF of living space situated on a large 7,497 SF lot. The property offers a great unit mix consisting of (1) 3-Bed/2-Bath, (1) 2-Bed/1-Bath, (8) 1-Bed/1-Bath, and (1) Studio. The property also features an on-site laundry facility and (5) 1-car garages and (3) carports. There is over 50% in upside rent potential & two units can be delivered vacant at the close of escrow. Located exactly 7 blocks from the 3rd Street Promenade, this is an incredible opportunity for any investor seeking growth stability and a hedge against inflation.
    Exterior Features

    Carport Spaces 3 Carport YN Yes Lot Features Landscaped Number Of Separate Electric Meters 12 Parking Features CarportGarage Parking Total 8 Pool Features None Pool Private YN No Property Attached YN Yes View Neighborhood View YN Yes

    Interior Features

    Appliances DryerWasher Common Walls 2+ Common Walls Cooling None Cooling YN No

    Property Features

    Additional Parcels YN No Association Fee 0 Association YN No Cap Rate 3.04 Common Interest None Community Features Sidewalks Electric Expense 0 Fuel Expense 0 Garage YN Yes Gross Income 231112 Gross Scheduled Income 238260 Insurance Expense 2779 Land Lease YN No Laundry Features Common Area Listing Agreement Exclusive Right To Sell Listing Service Full Service Listing Terms Cash To New Loan Maintenance Expense 7148 Net Operating Income 142676 New Construction YN No New Taxes Expense 56596 Number Of Separate Gas Meters 11 Number Of Separate Water Meters 1 Number Of Units Leased 9 Operating Expense 88436 Other Expense 8800 Rent Control YN Yes Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Total Actual Rent 19855 Trash Expense 0 Water Sewer Expense 0 Water Source Public Zoning Smr2*

    Listing provided courtesy of Brett Lyon of Lyon Stahl Investment Real Estate, Inc. and J.Woody Stahl of


    Based on information from California Regional Multiple Listing Service, Inc. as of 2021-05-14T22:35:16.487. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Team Tami | Palm Realty Boutique. Licensed in the State of California, USA.
     
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