4 Units in Santa Monica – OFF MARKET

$1,820,000
Withdrawn

Property Details

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1756 Franklin Street, Santa Monica, Alabama

Description:

Great Santa Monica Beach location perfect for investor and/or owner user. Opportunity to add value in a desirable neighborhood in the Santa Monica Malibu school district. Close to the vibrant entertainment hub and technology business district just off Colorado Ave near Bergamot Station with numerous galleries and happening restaurants. Soon to have the much anticipated Expo Line. Neighboring communities of West Los Angles, clinic Brentwood, Pacific Palisades and Venice Beach. High demand area with very low supply.

DRIVE BY ONLY DO NOT DISTURB TENANTS
INSIDE WITH ACCEPTED OFFER ONLY

PROPERTY SUMMARY Property is under Santa Monica Rent Control and buyer is to make their own independent investigation of the Maximum Allowable Rents and the rents being charged. Seller will make best efforts to deliver rental agreements and/or Estoppel Statements without any warranties or guarantees. Property being sold AS IS. Great opportunity to add value in turning around an underutilized property with the right hands on management. UNIT MIX 1 Two Bedroom – 1 ¾ Bath 3 One Bedrooms – 1 Baths

Unit #                  Unit Mix                          Current Rent
1               2 Bedroom – 1 ¾ Bath                 $ 1,847
2               1 Bedroom – 1 Bath                     $ 1,095
3               1 Bedroom – 1 Bath                     $ 1,087
4               1 Bedroom – 1 Bath                     $ 730

Total Monthly Scheduled Income:             $ 4,759
Total Yearly Scheduled Income:                 $ 57,108

Price Per Unit: $473,750

Thomas Guide: 631 H7

South of Santa Monica Blvd.

North of Olympic Blvd.

 

ESTIMATED ANNUAL UTILITIES & INSURANCE

EXCLUDING New Taxes

Insurance                                                      $ 1,400

Water /Sewer/Trash                                  $ 3,650

Gas                                                                 $    220

Electric                                                          $    300

 

Total:                                                                $ 5,570

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The information contained herein has been obtained from the property owner or other sources that we deem reliable. Although we have no reason to doubt its accuracy, No representation or warranty is made regarding the information, and the property is offered as is.The submission may be modified or withdrawn at any time by the property owner.