Imagine the best of beach-chic, Montana Ave-adjacent home ownership with the upside of future investment potential and monthly rental income to offset your mortgage! Why buy a condo when you can own a DUPLEX with a large, beautiful backyard? This grand property offers one full unit upstairs and one full unit downstairs, each one has a large living area, formal dining, an eclectic and charming kitchen, two big bedrooms, two baths and both office and laundry areas. Perfect to live in one unit and lease the other; with market rents estimated between $5,200 to $6,000 per month - the future promise of this property apparent! Projected revenues support an estimated 3.21% cap rate for investors who want to own in Santa Monica with the option to develop! There is also a detached, bonus creative studio / work space, too! Ocean Ave., Third Street Promenade and top-rated Roosevelt Elementary are only minutes away!
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Santa Monica represents the epitome of the Southern California beach lifestyle. This seaside location has been featured so frequently in movies and television shows that it may seem instantly familiar. Like nearby Venice, Santa Monica’s resort appeal stretches back over a century. Beachside chic combines glamorous shopping, a thriving downtown, and the energy of the many entrepreneurs who have launched startups in the area.
Real Estate: Santa Monica’s real estate is as varied as its citizenry. There are a variety of homes for sale, from beachy bungalows to new construction luxury homes. Condominiums are also available and there are many multi-unit apartment complexes with units for both sale and rent.
Community Life: The Santa Monica lifestyle is a mix of laidback beach style with a side of Los Angeles hustle. Outdoor living is the order of the day whether it is biking along the strand, strolling along Montana Avenue or taking an outdoor fitness class in the park while enjoying an ocean view.
Santa Monica doesn’t just have one farmers’ market it has four separate farmers’ market events spread throughout the city.
Third Street Promenade has just about every major shopping brand, all located within a few blocks, along with many restaurants and bars. What can’t be found at the Promenade can be found at Santa Monica Place, an open-air mall renovated several years ago.
Those in need of a fitness challenge can brave the Santa Monica Stairs, which are well known for providing a great cardiovascular workout.
Education: The city is served by the Santa Monica-Malibu Unified School District. Local schools include Roosevelt Elementary School, McKinley Elementary School, Grant Elementary School, John Adams Middle School, and Santa Monica High School. Crossroads School for Arts and Sciences offers a college-preparatory experience for elementary school through high school. Other local private schools include Carlthorp, New Roads, and Saint Monica’s Catholic High School.
Transportation: Accessed by the 10 Freeway and Pacific Coast Highway, Santa Monica is also highly bikeable and has received honors for being bike friendly. The Big Blue Bus runs several routes throughout the city and the city is also served by L.A. Metro.
Local Attractions: The Santa Monica Pier is a popular draw for tourists and the lighted Ferris wheel can be seen for miles away at night. The Museum of Flying at Santa Monica Airport is an airy structure with planes and exhibits that chronicle the history of flight. For beachside fun with a slice of nostalgia, check out the Annenberg Community House, built on the location of the demolished 110-room summer home built by William Randolph Hearst.
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