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

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