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    1/2 BATHS
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Listing Details

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School Ratings & Info

Description

Tucked away in a quiet neighborhood, this rent control depressed asset is ideal for an investor looking to reside at the property. This Bungalow-style fourplex is located in the highly desirable beach community of Santa Monica. Positioned in the middle of a tree-lined residential block just south of Ocean Park Blvd. The property is adjacent to the neighborhood's local cafes, markets and shops along Ocean Park Boulevard and not far from Trader Joes, Whole Foods and Costco. Constructed in 1948, this almost 3,000 SF single-story trophy asset sits on 7,010 SF with SMR2 zoning. Comprised of (3) one-bedroom units and (1) light filled three-bedroom one and 3/4 bath middle unit surrounded by gardens. Each unit has been individually metered for gas and electricity. Additional property amenities include a landscaped front and back yards and (5) private, one-car garages. Two of the garages have been converted to an office/storage space with carpeting, lighting, and a window. The community laundry room has a stylish newer floor. 2005 Oak Street presents significant value-add opportunity to investors. With a popular location that is consistently under high demand among high-earning young professionals, 2005 Oak Street affords investors the opportunity to acquire a flexible investment property in this ever-growing metropolitan beach community.

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Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-09-21T07:42:24.997. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
www.jelmbergteam.com/homes/120992090
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2005 Oak St Santa Monica, CA 90405

  • Price: $2,600,000
  • Status: Active
  • Updated: 35 min ago
  • MLS #: 21-778528
6
Beds
0
Baths
0
½ Baths
0.16
Acres
2,921
SQFT
$890
$/SQFT
1948
Built
Neighborhood:
Santa Monica
County:
Los Angeles
Area:
Santa Monica
Property Description
Tucked away in a quiet neighborhood, this rent control depressed asset is ideal for an investor looking to reside at the property. This Bungalow-style fourplex is located in the highly desirable beach community of Santa Monica. Positioned in the middle of a tree-lined residential block just south of Ocean Park Blvd. The property is adjacent to the neighborhood's local cafes, markets and shops along Ocean Park Boulevard and not far from Trader Joes, Whole Foods and Costco. Constructed in 1948, this almost 3,000 SF single-story trophy asset sits on 7,010 SF with SMR2 zoning. Comprised of (3) one-bedroom units and (1) light filled three-bedroom one and 3/4 bath middle unit surrounded by gardens. Each unit has been individually metered for gas and electricity. Additional property amenities include a landscaped front and back yards and (5) private, one-car garages. Two of the garages have been converted to an office/storage space with carpeting, lighting, and a window. The community laundry room has a stylish newer floor. 2005 Oak Street presents significant value-add opportunity to investors. With a popular location that is consistently under high demand among high-earning young professionals, 2005 Oak Street affords investors the opportunity to acquire a flexible investment property in this ever-growing metropolitan beach community.
Exterior Features

Lot Size Area 7010 Other Structures None Parking Garage Garage - 4+ Car Total Parking 5

Interior Features

Baths Total 4.50 Cooling None Equipment Ceiling FanGarbage DisposalRefrigerator Heating Floor Furnace Laundry CommunityLaundry AreaOutside

Property Features

Assessed Total Value 681592 Gross Income 129828 Gross Operating Income 129828 Like Units1 1 Like Units2 2 Like Units3 1 Like Units4 1 Net Operating Income 126295.00 Number Of Buildings 2 Number Of Units 4 Sale Type Standard Source Living Area Vendor Enhanced Source Lot Size Area Vendor Enhanced Total Annual Expense 3533 Type Of Units Walk Up Year Built Source Vendor Enhanced Zoning Smr2*

Listing provided courtesy of Evelyn Lauchenauer DRE#01765753 of Berkshire Hathaway Homeservices California.


Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-09-21T07:42:24.997. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
 
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