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Julie & Greg Schnieders

julie@schniedersgroup.com +1(949) 292-5857

$ 2,395,000

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729 Cedar ST Santa Monica, CA 90405

5,993 Sqft Lot

UPDATED:

Key Details

Property Type Multi-Family

Sub Type Quadruplex

Listing Status Active

Purchase Type For Sale

MLS Listing ID SB25201120

HOA Y/N No

Year Built 1954

Lot Size 5,993 Sqft

Property Sub-Type Quadruplex

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

Area C14 - Santa Monica

Zoning SMOP2*

Interior

Heating Central

Cooling None

Fireplaces Type Living Room

Fireplace Yes

Laundry Common Area

Exterior

Parking Features Door-Single, Garage

Garage Spaces 1.0

Carport Spaces 4

Garage Description 1.0

Pool None

Community Features Urban

Utilities Available Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected

View Y/N No

View None

Total Parking Spaces 5

Private Pool No

Building

Lot Description 0-1 Unit/Acre

Faces South

Story 2

Entry Level Two

Sewer Public Sewer

Water Public

Level or Stories Two

New Construction No

Others

Senior Community No

Tax ID 4287001013

Acceptable Financing Conventional

Listing Terms Conventional

Special Listing Condition Standard

Listed by Takeshi Kida Takeshi Kida 347-885-1669

Julie & Greg Schnieders

Agent | License ID: 01384831

+1(949) 292-5857

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Julie & Greg Schnieders

729 Cedar ST Santa Monica, CA 90405

Key Details

Location

Interior

Exterior

Building

Others

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729 Cedar ST