728 Montana Avenue

    Santa Monica, CA 90403
    • $10,500,000
    • STATUS: Active Under Contract
    • ON SITE: 163 days
    • ID#: 18332592
    Under Contract
    UPDATED: 16 min ago
    $10,500,000
    • 0
      BEDS
    • 0.31
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 8,412
      SQFT
    • $1,248
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1999
    County:

    School Ratings & Info

    Description

    We are proud to present to market "Montana@Lincoln Crossing", a prominent Mixed Use asset located in the eternally hip city of Santa Monica along the fabled Montana Ave at the intersection with Lincoln Blvd. The asset is composed of two parcels: one that is the corner property that is 60 feet fronting Montana and 100 feet fronting Lincoln; and, a second that is 50 feet by 150 feet used for parking that is primarily entered off of Lincoln with an alley access to Montana. The 3 ground level retail spaces have mostly 5-year leases with extendable terms providing a high degree of income security. The 6 residential studio loft units above on the 2nd level have high ceilings and large private balconies, presenting a potential upside opportunity by realizing market rents in these premium units. 4 of the 6 units are not subject rent control. CALL FOR OFFERS on May 18.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2018-09-23T09:28:52.907. 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 usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.
    www.playavistaliving.com/homes/82547945

    728 Montana Avenue Santa Monica, CA 90403

    • Price: $10,500,000
    • Status: Active Under Contract
    • Updated: 16 min ago
    • ID#: 18332592
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.31
    Acres
    8,412
    SQFT
    $1,248
    $/SQFT
    1999
    Built
    Neighborhood:
    C14 - Santa Monica
    County:
    Los Angeles
    Area:
    C14 - Santa Monica
    Property Description
    We are proud to present to market "Montana@Lincoln Crossing", a prominent Mixed Use asset located in the eternally hip city of Santa Monica along the fabled Montana Ave at the intersection with Lincoln Blvd. The asset is composed of two parcels: one that is the corner property that is 60 feet fronting Montana and 100 feet fronting Lincoln; and, a second that is 50 feet by 150 feet used for parking that is primarily entered off of Lincoln with an alley access to Montana. The 3 ground level retail spaces have mostly 5-year leases with extendable terms providing a high degree of income security. The 6 residential studio loft units above on the 2nd level have high ceilings and large private balconies, presenting a potential upside opportunity by realizing market rents in these premium units. 4 of the 6 units are not subject rent control. CALL FOR OFFERS on May 18.
    Exterior Features

    Lot Size Source See Remarks Lot Size Units Square Feet Parking Features Parking Space Parking YN Yes

    Interior Features

    Laundry Features See Remarks

    Property Features

    Cap Rate 3.05 Gross Multiplier 21.47 Gross Operating Income 489017.00 Improvements Amount 264403 Land Value 152078 Laundry YN Yes Net Operating Income 319795.00 Special Listing Conditions Standard Total Expenses 169222.00 Zoning Smc2*

    Listing provided courtesy of Scott Rosenberg of Re/Max Estate Properties.


    Based on information from California Regional Multiple Listing Service, Inc. as of 2018-09-23T09:28:52.907. 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 usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.
     
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