618 Pacific Street
Santa Monica, CA 90405
$2.7 million
Click here for details: 👉🏻 http://www.SantaMonica4plex.com
APN: 4289-005-015
Zoning: SMOP2*
Built in 1965
Approximately 3,430 square feet according to tax assessor
Approximate lot size of 5,633 square feet according to tax assessor
Lot measurements: 42.5 foot frontage by 120 on the East, 118.45 on the West and 51.34 in the back.
4 units
#1 – 2 bedroom 2 bath owners unit (will be delivered vacant at close of escrow) or possible lease back from the owner.
#2 – 1 bedroom 1 bath
#3 – 2 bedroom 1.5 bath
#4 – 1 bedroom 1 bath
Rental income:
$4,500.00 (projected rent) currently owner occupied and will be delivered vacant at COE
$3,575.00 actual (1 year lease through 5/1/2019)
$2,543.64 actual (partially furnished) month to month
$1,762.64 actual (month to month)
Total projected monthly income: $12,381.28
Total projected annual income: $148,575.36
18.1 X GRM
4.3 Cap Rate
Current Annual Expenses:
Property tax: $25,600.00
Fire & liability insurance: $1,235.00
Earthquake insurance: $1,800.00
House electric: $400.00
House water: $2,180.00
House gas: $560.00
Total projected annual income: $148,575.36
Total annual expenses: $31,775.00
Net annual income: $116,800.36
Separately metered units for gas & electric
Main house meter for common area water, electric & gas.
Property Description:
An exceptional 4-plex in prime Santa Monica with spectacular owners unit. The owners unit it feels like a single family home and is located in the front of the building on the first floor with private front and side garden areas. Completely remodeled with new engineered wood floors, brand new kitchen with sleek quartz stone counters, stainless steel appliances open to the dining room area with sliding doors & large living room. 2 full bathrooms also newly remodeled. There is also a newly remodeled upper level 2 bedroom 1.5 bath unit just rented for $3,575 per month. Two additional upper and lower 1 bedrooms units rented for $2,543.64 & $1,762.64. Separate laundry room in the back of the property and ample off street parking for 8-10 cars. An exception opportunity to live in the owners unit and collect rents and basically live for free.
Location: West of Lincoln Boulevard, South of Pico, North of Ocean Park & East of Neilsen Way.
Exclusions: Washer & dryer, toto washlet.
Christophe Choo is in the top 1% of Realtors internationally with 29 years experience as the President & Broker for the Christophe Choo Real Estate Group at Coldwell Banker Global Luxury in Beverly Hills. The Coldwell Banker office is #1 in the United States for 23 years and is the most comprehensive source for luxury real estate listings, from estate homes to luxury condominiums, incredible tear down opportunities and investment properties. Based in beautiful Beverly Hills, California 90210, the Christophe Choo Real Estate Group provides exclusive luxury homes for sale on a local, global and international stage. Hence the tagline: “Locally Known – Globally Connected”. Search for luxury properties in your area, whether in the “Platinum Triangle” areas of the Westside of Los Angeles of Beverly Hills, Holmby Hills and Bel Air or in The Sunset Strip, Hollywood Hills, Brentwood, Westwood, the Wilshire Corridor, Century City, Pacific Palisades, Santa Monica, Malibu, Venice, Marina Del Rey, Cheviot Hills, Hancock Park, Los Feliz and the key Westside areas of Los Angeles, the Christophe Choo is the luxury Realtor that can help you achieve your selling or buying goals in Los Angeles.
Call or email me today! Christophe Choo 310-777-6342
The Christophe Choo Real Estate Group
Coldwell Banker Global Luxury
Beverly Hills Realtor – Luxury Real Estate Agent
Email: [email protected]
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