914 18th St, Santa Monica, CA 90403
- $3,800,000
- 7
- BA
- 5,100
- SqFt
- List Price
- $3,800,000
- MLS#
- 23-235847
- Year Built
- 1927
- Bathrooms
- 7
- Living Sq. Ft
- 5,100
- Lot Size
- 8,000
- Days on Market
- 100
- Property Type
- Multifamily
- Stories
- 2
Property Description
1. Delivered 100% vacant, plans approved to renovate 4 existing apartments and add 3 additional units, located in prime Santa Monica 2. Charming courtyard-style style configuration with (1) one-bedroom and (3) two-bedroom bungalow-style units surrounding a sunlit garden with the opportunity for a Buyer to build an additional duplex on what is currently the center courtyard, and a studio ADU over the garage 3. Seller has plans and permits stamped and approved to build three ADUs and renovate the existing units into Class A Spanish-style bungalows 4. Upon the completion of renovations and ADU development, a Buyer can quickly achieve an attractive 7.51% cap rate in one of the most competitive markets in the country 5. The property is exempt from Title 24, which alleviates energy restrictions and will allow for a more expeditious development process
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Additional Information
- Other Buildings
- None
- Heat
- None
- Cooling
- None
- View
- Courtyard
- Number of Cars in Garage
- None
Mortgage Calculator
Courtesy of , Anna Kampling - CA DRE#
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