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$ 2,195,000
Est. payment /mo
Active
1147 24th Street Santa Monica, CA 90403
2 Beds
1,469 SqFt
UPDATED:
Key Details
Property Type Single Family Home
Sub Type OTHER
Listing Status Active
Purchase Type For Sale
Square Footage 1,469 sqft
Price per Sqft $1,494
MLS Listing ID CL26996179
Bedrooms 2
HOA Y/N No
Lot Size 6,212 Sqft
Acres 0.14
Property Sub-Type OTHER
Property Description
Set in one of Santa Monica's most coveted residential neighborhoods, just moments from the beach and the iconic Santa Monica Pier, this four-unit property presents an exceptional opportunity for investors and owner-users alike. The property features two studio residences with full bathrooms on the lower level and two 1-bedroom/1-bath residences on the upper level, creating a versatile unit mix with strong existing income and additional upside potential. Three residences are currently tenant occupied, while one of the upstairs 1-bedroom/1-bath units is intentionally being held vacant, creating an ideal opportunity for an owner-user to move in or for an investor to place a new tenant at market rent.The property features various updates, a beautiful shared outdoor area and four individual private garages, offering additional income potential of up to $295 per month each. Each of the four units has its own individual address and separate APN, creating the potential for future flexibility, including the possibility of individual unit sales, subject to applicable requirements and buyer investigation and due diligence. That's just $548,750 PER UNIT. NEAR THE BEACH! --- No HOA has currently been established, offering another unique aspect of the property and potential flexibility for a future owner, subject to applicable requirements and restrictions.Whether you're looking to diversify your investment portfolio or become an owner-investor by living in one residence while generating rental income from the others to help offset your mortgage, this property offers tremendous versatility. Financing opportunities may include zero-down programs for qualified buyers, as well as FHA 203(k) renovation financing, subject to borrower, lender and property eligibility.An incredible opportunity to build equity, generate income and own a uniquely structured multi-unit property in one of Southern California's most desirable coastal communities close to Santa Monica's renowned beaches, dining, shopping, entertainment and quintessential Westside lifestyle.
Location
State CA
County Los Angeles
Interior
Heating Electric
Fireplace No
Laundry Dryer, Washer
Exterior
Total Parking Spaces 4
Building
New Construction No
Others
Tax ID UNAVAILABLE
Virtual Tour https://www.themls.com/properties/vt/CA/Santa-Monica/1147--24th-St/Residential-Income/26996179
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Listed by Christina Fetterolf • Rodeo Realty