Active
2306 3rd ST
SANTA MONICA CA, 90405
$4,950,000
$623.66 per sqft
Active
12 Beds
3 Baths
7,937 sqft
Multi-family
Built in 1924
Situated in the picturesque Ocean Park neighborhood of Santa Monica, 2306 3rd Street stands as a rare gem for investors seeking a prestigious addition to their portfolio. Sitting on a double lot, this legacy 12-unit property features an eclectic mix of residential options, including (1) 4-unit building, (1) duplex, (1) single-family residence with an attached studio, and (4) detached bungalows. With a unit mix of (3) 2-bed/1-bath, (8) 1-bed/1-bath, and (1) studio, the property offers a total of 7,937 square feet of rentable space on a generous 12,703 square foot lot. Boasting a 4.25% CAP rate and a market CAP rate of 6.35%, the investment potential is substantial. Residents enjoy the perfect blend of comfort and convenience, enhanced by the property's prime location. Positioned just blocks from the beach and within walking distance of top-tier retail and restaurants, 2306 3rd Street benefits from its enviable location between Venice Beach and Downtown Santa Monica. Whether you're seeking steady returns or aiming to capitalize on the area's dynamic growth, this property represents a compelling opportunity in coveted location.
SB24155287MR
MLSⓇ ID
July 29, 2024
Listed
October 22, 2024
Updated
Map
2306 3rd ST
SANTA MONICA CA, 90405
Interior Features
Total Stories
2
Bedrooms
12
Total Bathrooms
3
Laundry Description
Laundry Area
Fireplace
No
Fireplace Description
None
Cooling
No
Cooling Description
None
Heating
No
Heating Description
None
Exterior/Building Features
Lot Size
0.14 Acres
Sewer
Public Sewer
Other Property Details
Area Name
Santa Monica
Days on Market
85
Garage
No
Parking Total
0
View
No
County
Los Angeles
Water Source
Public
Pool
No
Pool Features
None
Zoning
SMOP2*
Listing History
Date | Event | Price |
---|---|---|
10/21/2024 | Price change | $4,950,000 -10% |
Listed by Brett Lyon with Lyon Stahl Investment Real Estate, Inc.
Listing Contact: 310-706-4066
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 Susan Smith 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 10/22/2024