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$5,250,000
Est. payment /mo
16 Beds
12 Baths
10,618 SqFt
UPDATED:
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
Square Footage 10,618 sqft
Price per Sqft $494
MLS Listing ID 25579851
Bedrooms 16
Year Built 1948
Lot Size 0.338 Acres
Acres 0.3375
Property Description
12-Unit Multifamily Investment Opportunity *Rare multifamily opportunity located on a prime corner double lot on highly sought-after Montana Avenue *Charming bungalow style building on market for the first time in 25 years*On the market for the first time in 25 years, the property is competitively priced at a 4.61% in-place cap rate to be a 7.41% pro forma cap rate *Units feature hardwood floors, dual entrances, dining rooms, and abundant natural lightingselect units offer renovated kitchens and baths, semi-private patios, in-unit washer and dryers, recessed lighting, and upgraded appliances *Community amenities include a private lawn and on-site laundry for non-renovated units, with ample opportunity to enhance the space with fire pits, BBQ areas, and a dog run *Nine garages located on the right side of the property present the opportunity to build (2-3) Accessory Dwelling Units (ADUs) over the existing garages, offering significant upside potential for additional rental income resulting in a 7.98% pro forma cap rate
Location
State CA
County Los Angeles
Area Santa Monica
Zoning SMR2*
Exterior
Garage Spaces 9.0
Building
Story 2
Others
Special Listing Condition Standard
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Listed by Colliers International Greater Los Angeles, Inc.
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