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Listed by Takeshi Kida • Takeshi Kida
$ 2,395,000
Est. payment /mo
Active
729 Cedar Street Santa Monica, CA 90405
2,880 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Quadruplex
Listing Status Active
Purchase Type For Sale
Square Footage 2,880 sqft
Price per Sqft $831
MLS Listing ID CRSB25201120
HOA Y/N No
Year Built 1954
Lot Size 5,995 Sqft
Property Sub-Type Quadruplex
Source Datashare California Regional
Property Description
Introducing a meticulously maintained investment opportunity in the heart of Santa Monica’s sought-after Ocean Park neighborhood. Walkable distance from the beach and two blocks from the peaceful greenery of Joslyn Park, this solid asset offers exceptional value with a current CAP rate of 2.85%. Current expenses include a property management fee, $6,000 per year, so if the Buyer elects to self-manage the property and thereby eliminates management expenses, the potential CAP rate could increase to 3.1%, with a potential market CAP rate of 4.5% with market rents. Residents enjoy quick access to many everyday conveniences along Lincoln Boulevard, including Gelson’s, Whole Foods Market, popular coffee shops, and a wide variety of restaurants, as well as the vibrant shops and dining of Abbot Kinney and Main Street. Santa Monica’s excellent Transit Score of 75 and Bike Score of 72 make every destination within easy reach.
Location
State CA
County Los Angeles
Interior
Heating Central
Cooling No Air Conditioning
Fireplace No
Laundry Common Area
Exterior
View None
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