847 Lincoln

    Santa Monica, CA 90403
    • $2,995,000
    • STATUS: Active
    • ON SITE: 100 days
    • ID#: 18330784
    $2,995,000
    • 0
      BEDS
    • 0.17
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 5,438
      SQFT
    • $551
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1924
    County:

    School Ratings & Info

    Description

    2nd Price Reduction! - 6 Units in Prime North Santa Monica near Montana Avenue. This is an extremely rare opportunity for an investor to purchase a multifamily property with 40% rent upside potential in this neighborhood. The property has a walk score of 91 out of 100 with proximity to a variety of dining, shopping and entertainment options along Montana Avenue and is also a short walk from the beach. The units consist of all 1 bedroom, 1 bath floor plans with a current average rent of $1,852 per month. 1 bedroom units in this immediate area are currently renting for $2,600. A new investor can capitalize on the tight rental market and high rents in this neighborhood by implementing a long-term strategic unit interior renovation plan, which will upgrade the units and allow the buyer to command top of the market rents. Front Building, built in 1924 has 4,224 square feet and Back Building, built in 1954 has 1,214 square feet (both per LA County Assessor).

    Monthly Payment Calculator



    Based on information from California Regional Multiple Listing Service, Inc. as of 2018-07-16T00:28:38.717. 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/82376439

    847 Lincoln Santa Monica, CA 90403

    • Price: $2,995,000
    • Status: Active
    • ID#: 18330784
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.17
    Acres
    5,438
    SQFT
    $551
    $/SQFT
    1924
    Built
    Neighborhood:
    C14 - Santa Monica
    County:
    Los Angeles
    Area:
    C14 - Santa Monica
    Property Description
    2nd Price Reduction! - 6 Units in Prime North Santa Monica near Montana Avenue. This is an extremely rare opportunity for an investor to purchase a multifamily property with 40% rent upside potential in this neighborhood. The property has a walk score of 91 out of 100 with proximity to a variety of dining, shopping and entertainment options along Montana Avenue and is also a short walk from the beach. The units consist of all 1 bedroom, 1 bath floor plans with a current average rent of $1,852 per month. 1 bedroom units in this immediate area are currently renting for $2,600. A new investor can capitalize on the tight rental market and high rents in this neighborhood by implementing a long-term strategic unit interior renovation plan, which will upgrade the units and allow the buyer to command top of the market rents. Front Building, built in 1924 has 4,224 square feet and Back Building, built in 1954 has 1,214 square feet (both per LA County Assessor).
    Exterior Features

    Lot Size Units Square Feet Parking Features Garage Parking YN Yes

    Interior Features

    Cooling None Cooling YN No Laundry Features See Remarks

    Property Features

    Cap Rate 2.44 Gross Multiplier 22.32 Gross Operating Income 134712.00 Improvements Amount 322314 Land Value 675495 Laundry YN Yes Net Operating Income 73070.00 Special Listing Conditions Standard Total Expenses 57102.00 Zoning Smr2*

    Listing provided courtesy of David Harrington of Matthews Retail Group, Inc..


    Based on information from California Regional Multiple Listing Service, Inc. as of 2018-07-16T00:28:38.717. 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.
     
    Team Tami | Palm Realty Boutique
    7101 Playa Vista Dr.
    Playa Vista CA, 90094