Active
1047 Ocean Park Blvd
Santa Monica CA, 90405
$2,875,000
$542.86 per sqft
Active
5,296 sqft
Residential
Built in 1947
1047 Ocean Park Blvd is a 5,296-square-foot, seven-unit apartment building located in the Ocean Park Submarket in the City of Santa Monica. Situated on a 6,617-sf corner lot, the property contains a highly desirable unit mix of (five) 2-bedroom/1-bathroom units and (two) studio units, while (one) 2-bedroom/1-bathroom unit is a spacious townhome. The property was retrofitted within the last two years; foundational work was completed in 2023, and a new concrete driveway was installed in November 2022. Furthermore, there are a total of ten parking spaces with four additional tandem spots. 1047 Ocean Park Blvd provides an investor with the opportunity to own a trophy asset in a desirable pocket of Santa Monica! The asset has a value-add component with approximately 42% in rental upside and a 6.50% pro-forma cap rate and 11.07 pro-forma GRM!
24-358301
MLSⓇ ID
February 20, 2024
Listed
May 9, 2024
Updated
Map
1047 Ocean Park Blvd
Santa Monica CA, 90405
Interior Features
Total Stories
0
Appliances
Microwave, Dryer, Washer
Fireplace
No
Cooling
Yes
Cooling Description
Other
Heating
Yes
Heating Description
Other
Exterior/Building Features
Lot Size
0.15 Acres
Other Property Details
Area Name
Santa Monica
Days on Market
10
Garage
No
Parking
Carport
Parking Total
0
View
No
County
Los Angeles
Pool
No
Pool Features
None
Zoning
SMR3*
Listed by David Messiah with Lyon Stahl Investment Real Estate, Inc.
Listing Contact: 310-561-2384
Based on information from The MLSTM / Combined LA/Westside Multiple Listing Service, Inc. IDX information is provided exclusively for consumers' personal, non-commercial use, it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All information is deemed reliable but not guaranteed and should be independently reviewed and verified. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. All properties are subject to prior sale, change or withdrawal, and may or may not be listed by the office/agent presenting the information. Neither listing broker(s) nor Megan Whalen Team shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless.
©2024 Combined L.A./Westside MLS. All rights reserved.
Data last updated 5/9/2024
