Courtesy of Lyon Stahl Investment Real Estate, Inc.
Property Description
** SELLER FINANCING AVAILABLE. CRAFTSMAN HOME + 4 UNITS** A rare opportunity to own a remodeled 5-unit property in the heart of Santa Monica. This 4,454 sq. ft. building sits on a spacious 7,510 sq. ft. R3 lot, offering excellent ADU potential and future development opportunities. The front house is a 2-bed/2-bath Craftsman home, which is vacant and ready for an owner-user or new tenant. It features a fireplace, bay window, large living room, hardwood floors, countertop island, in-unit washer and dryer, and both a front and side yard. Attached to it, through a separate entrance, is an attic space configured as a 1-bed/1-bath unit with a kitchenette, providing additional space and flexibility. The property’s charming garden-style design enhances its curb appeal. The rear of the property includes four units: two 1-bed/1-bath units (one currently vacant) and two studio units, one of which includes a private deck, allowing an investor to maximize rental income. The building is in excellent condition, with seismic retrofitting completed, a relatively new roof, and copper plumbing. Additionally, there are four garages, two of which are separately rented, generating extra income. The property boasts a current cap rate of 5.05% and a GRM 13.14, making it a highly attractive investment. With a desirable unit mix, prime location, and potential for additional development, this is a phenomenal opportunity to invest or live in one of Santa Monica’s most sought-after neighborhoods.
Open House
Property Details and Features
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Bedrooms
- 5 total bedrooms
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Building
- Built in 1948
- Building area total: 4454
- Living area: 4454
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Listing
- Listing ID: SB25072490
- List price: $2,675,000
- 105 days on market
- Listing contract date: 2025-04-03
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Lot
- Size area: 0.1725
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Property
- Property subtype: Detached
- Property type: Residential
