$2,280,000
Est. payment /mo
7 Beds
5 Baths
3,219 SqFt
Price Dropped by $205K
2517 20th ST Santa Monica, CA 90405
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Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 3,219 sqft
Price per Sqft $708
MLS Listing ID 26654207
Bedrooms 7
HOA Y/N No
Year Built 1938
Lot Size 6,764 Sqft
Property Description
This exceptionally charming 5-unit multi-family property presents an incredible investment opportunity in a prime Santa Monica location. Built in 1938 this updated property has immense appeal and offers long-term growth potential. The property has been meticulously maintained. There are three 1 bedroom/1 bathroom units plus two 2 bedroom/1 bathroom units. Four of the five units have been remodeled; three feature in-unit laundry, the other two units have private laundry inside their garage. There are refinished hardwood floors, three of the five units have split AC units, quartz/granite countertops and tiled showers. In January 2025 a new roof was installed on the rear building, and in late 2024 the front building was recoated. Two of the front units have individual enclosed garages; three units have assigned parking. This property offers both immediate rental income and long-term growth potential. This property has just undergone significant capital improvements including soft story/seismic retrofit work, resulting in a building that is fully stabilized and ready to go. Centrally located near transportation, schools, shopping, parks, and the best Santa Monica has to offer. Operating at a 100% occupancy, the property yields a highly attractive Pro-Forma Cap Rate of 4.69%. The current tenants are professionals and the units are well maintained. This is a fantastic opportunity for investors seeking a steady cash flow in a thriving, rent resilient market. There is an excellent property management company in place. This is rare turnkey acquisition.
Location
State CA
County Los Angeles
Area C14 - Santa Monica
Zoning SMR2*
Interior
Heating Wall Furnace
Flooring Wood
Fireplaces Type None
Fireplace No
Appliance Refrigerator, Dryer, Washer
Laundry Common Area
Exterior
Parking Features Assigned
Building
Story 2
Entry Level One,Two
Architectural Style Spanish
Level or Stories One, Two
New Construction No
Others
Senior Community No
Tax ID 4273019010
Special Listing Condition Standard
Listed by Julie Lovett Coldwell Banker Realty #00803205
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