Centinela Avenue
Centinela Avenue Santa Monica, California 90404 United States

$2,495,000
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BRC Advisors- BH

Listing Courtesy of BRC Advisors- BH
$2,495,000
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.17 Acres
Exterior
Residential Income
Property type
1923
Year Built
20658892
Web Id
20658892
MLS ID
Santa Monica-Malibu Unified
School District
15
days ago

About Centinela Avenue

BRC Advisors -BH is proud to present for sale this value-add five-unit apartment property located at 1415 South Centinela Avenue, in Santa Monica, California. The property consists of three separate structures on one lot, consisting of an attractive unit mix with four (4) three-bedroom/two-bathroom units and a one-bedroom/one-bathroom unit. Situated on a 7,564 square foot lot, the property is located just south of Santa Monica Blvd. Three of the units have washer/dryers (see rent roll) and three units are currently vacant, allowing a buyer to immediately implement a renovation plan of those units and exterior areas to obtain maximum rents. Additionally, there are approximately seven onsite parking spaces and the units have separate water heaters, some of which are tankless. Upon renovating and renting the three vacant 3-bedroom units at the projected market rent of $3,795, a buyer will achieve a projected cap rate of 5.28% and a gross rent multiplier of only 13.0x!!!

Listing Courtesy of BRC Advisors- BH, Savannah MLS

features

Style
Historic

ADDITIONAL INFORMATION

Number of Units
5
Listing Courtesy of BRC Advisors- BH