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2620 11Th Street
Santa Monica, CA 90405


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Property Remarks

Charming Spanish Style Courtyard Building in PRIME OCEAN PARK. 2 Buildings with private patio areas tucked away behind tall hedges. First time on the market in 40 years. SELLERS WILL CONSIDER CARRYING 1ST TD AND NOTE WITH 50% DOWN, 5% INTEREST ONLY OR MORE PER MONTH FOR 8-10 YEARS. 16 (1+1) units, 11 garages, 5 parking spaces, and 5 storage lockers - all rented. (Rent for parking spaces and storage lockers could be higher because one locker and one parking space is currently being used by the owner and on-site manager. Only a few historically low rents. Tremendous potential for income growth! Buyer to cooperate with Sellers' 1031 tax deferred exchange. Unit Type: "Unit 4" actual and scheduled rental income of $450 / $550 includes 5 storage lockers and laundry room income.

Property Details

MLS#
17261372
Days on Market
91
Year Built
1947
Stories
1
Building/Living Area (sq ft)
8,084
Source of SqFt
Public Records
Source of Lot Size
Public Records

Location

State
CA
County
Los Angeles
Area
Santa Monica (C14)

Presented By:

Listing provided courtesy of Gwen Tanguay , Redwood Realty


Exterior

Lot Acreage
0
Paved
No
Waterfront
No

Exterior Construction
Stucco
Pool
No Pool
Security
Resident Manager
Style
Traditional
View
No View
Roofing
Rolled/Hot Mop

Interior

Interior Features
Other
Flooring
Hardwood
Sheet Vinyl
Laundry
Community

Additional Property Details

Number of Units
16
Parking Spaces
16
Number of Buildings
2
Gross Operating Income
$314,772
Total Expense
$122,688
ADA Compliance
No

Heating
Wall Gas
Parking
Assigned
Garage - Single Door
Parking Space

Santa Monica

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.

Community Explorer

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