Description:

Property Summary Rare find and opportunity for a developer, investor and/or owner user to purchase 8 Units and further develop another home in this prime Santa Monica Location. Build your home here. Consists of a large 4 Bedroom, 2 Bath 2 story unit with attached 2 Car Garage Parking. This is a great mix of large units with lots of future upside and opportunity to add value in a high demand area. Lot size will allow for building an additional home on the property. Both of these lots combined are 16,242 Square Feet! Great Santa Monica Location in desirable neighborhood in the Santa Monica Malibu Unified School District. Situated in the heart of the vibrant entertainment hub and technology business district. Near Bergamot Station with numerous galleries and happening restaurants. Santa Monica continues to be a growing vibrant diverse economy with headquarters of many high profile entertainment and technology corporate firms and the new Expo Line. Neighboring communities of Prime West Los Angeles, Brentwood, Pacific Palisades and Venice Beach. High demand area with very low supply. This is an unusual opportunity that will not last.

Drive by only, do not disturb the tenants.

View inside of units with accepted offer only.

 

 

1524 Stanford Street

Unit #                    Unit Mix                          Actual Rents

A                  4 Bedroom – 2 Bath                   $5,295

B                  2 Bedroom – 1 Bath                    $1,798

C                 2 Bedroom – 1 Bath                     $1,067

D                 2 Bedroom – 1 Bath                     $1,599

E                  2 Bedroom – 1 Bath                     $1,795

F                  2 Bedroom – 1 Bath                     $2,750

Laundry                                                             $      60

Total Actual Monthly Income:                      $  14,364

Total Actual Annual Income:                        $172,368

 

1528 Stanford Street

Unit #                    Unit Mix                          Actual Rents

A                  1 Bedroom – 1 Bath                   $  1,499

B                  1 Bedroom – 1 Bath                   $ 2,200

*Four 1 Car Garages @ $200 each              $    800 *

Total Monthly Income:                                  $   4,499

Total Annual Income:                                    $  53,988

 

Combined Monthly Income:                        $  18,863

Combined Annual Income:                          $ 226,356

 

Approximate Annual Expenses (Excluding New Taxes)

Cleaning & Maintenance:                                    $1,525

Insurance:                                                               $2,298

Landscaping:                                                          $1,252

Electric & Gas Utilities:                                         $1,271

Water & Trash:                                                        $1,929

Rent Control Registration Fees:                         $1,347

 Total Approximate Expenses:                             $9,622