Sold

814 3rd Street

Santa Monica CA, 90403

$5,200,000


$680.09 per sqft

Sold

9 Beds

14 Baths

7,646 sqft

Residential

Built in 1908

Listed by Janet Neman with Kidder Mathews of California, Inc. 858-369-3010

Listed with 820 3rd St (APN: 4292-024-004). 814 & 820 3rd Street, a 14-unit opportunity located in prime Santa Monica, one of the most sought-after cities in Southern California. Originally constructed in 1908 and 1940, the Property consists of two single-story bungalow style structures and one two-story building situated on two contiguous lots totaling over 15,000 square feet of land. 814 3rd St is comprised of 9 units with 5 studios and 4 (1+1) units. 820 3rd St features a unit mix of 5 (1+1) units. Rare opportunity for an investor to enter a high-demand rental market with the potential to significantly increase value by renovating units and stabilizing the property. 8 out of the 14 units will be DELIVERED VACANT, providing the opportunity for an investor to immediately upgrade the units and capture market rents. The property is separately metered for electricity and gas and is equipped with 9 garages for tenant parking. Each unit includes their own washer and dryer or laundry hook ups. Through a systemic renovation program, a savvy investor will have the opportunity to capitalize on the rental upside. Additionally, the properties are zoned R3 (medium density residential), offering future development potential (buyer to confirm). he Property is positioned in the highly coveted Wilshire Montana neighborhood of prime Santa Monica. Tenants enjoy being within walking distance to Montana Avenue and only three blocks from the beach. The Property is conveniently surrounded by nearby amenities including critically acclaimed restaurants, trendy bars, shopping, hotels, entertainment venues, and notable destinations including the Montana Ave shops, Downtown Santa Monica, 3rd Street Promenade, and The Santa Monica Pier. Further, the Property is situated among the major Silicon Beach and Culver City employment hubs. 814 & 320 3rd Street presents investors with the rare opportunity to acquire an ideally located, pride of ownership apartment building with significant upside and future development potential.

22221053

MLS ID

November 28, 2022

Listed

March 23, 2024

Updated

Map

814 3rd Street
Santa Monica CA, 90403

Interior Features

Total Stories

0


Bedrooms

9 Beds


Bathrooms

14 Baths


Appliances

Washer


Fireplace

No


Cooling

No


Cooling Description

None


Heating

No


Heating Description

None

Exterior/Building Features

Lot Size

0.34 Acres

Other Property Details

Area Name

C14 - Santa Monica


Days on Market

108


Garage

Yes


Parking Total

9


View

No


County

Los Angeles


Pool

No


Zoning

SMR3*


Buyer Agency Compensation

1%

Listing History

Date

Event

Price

5/18/2023

Sold

$5,200,000

Listing Contact: 858-369-3010 

Based on information from the California Regional Multiple Listing Service (CRMLS) as of 3/23/2024. 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, the 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. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. Any offer of compensation is made only to participants of the MLS where the listing is filed.

©2024 California Regional Multiple Listing Service (CRMLS) all rights reserved.

Data last updated on 3/23/2024 at 1:22 AM UTC

 

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