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621 San Vicente Boulevard

Santa Monica, CA 90402
  • $24,500,000
  • STATUS: Active
  • ON SITE: 10 Days
  • ID#: 22183351
UPDATED: 45 min ago
$24,500,000
  • 0
    BEDS
  • 0.51
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
Built:
1960
County:

School Ratings & Info

Listing Agent(s): Jonathan Taksa of Remax Commercial And Investment Realty (213-817-1000)


Description

Presenting for sale the generational opportunity to acquire 29 units at 621 San Vicente Blvd. in beautiful Santa Monica. Ideally located in the heart of LA's vibrant Westside and just blocks from the ocean, 621 San Vicente Blvd. is a Mid-Century property built in 1960 by famed architect Kenneth Lind and consists of one building with three floors of residential units over 1 level of subterranean parking. The building features an incredible unit mix, with 28 out of the 29 units being extra large 2 bedroom 2 bath floor plans flooded with natural light. First floor units enjoy a massive front patio, while 2nd and 3rd floor units have great views. The property has HUGE rental upside (only 6 of the units have been luxuriously renovated), and current rents hover at just $2.00 per square foot. Additionally, there is currently a vacant storage room that could be rented for additional income (Buyer to verify). A quick walk to the high-end dining, nightlife, the Santa Monica Stairs and the beach. This ultra rare value add offering presents an astute investor with the unique opportunity to capitalize on higher market rents and to acquire a prestigious turnkey asset in one of the best rental locations in all of Los Angeles. ALSO AVAILABLE FOR SALE IS AN INCREDIBLE 36 UNIT PROPERTY AT 305 SAN VICENTE BLVD.

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Based on information from California Regional Multiple Listing Service, Inc. as of 2022-08-07T11:28:28.35. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Nest Real Estate. Licensed in the State of California, USA.
www.amayarealestategroup.com/homes/131317239
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621 San Vicente Boulevard Santa Monica, CA 90402

  • Price: $24,500,000
  • Status: Active
  • On Site: 10 Days
  • Updated: 45 min ago
  • ID#: 22183351
0
Beds
0
Baths
0
½ Baths
0.51
Acres
1960
Built
Neighborhood:
C14 - Santa Monica
County:
Los Angeles
Area:
C14 - Santa Monica
Property Description
Presenting for sale the generational opportunity to acquire 29 units at 621 San Vicente Blvd. in beautiful Santa Monica. Ideally located in the heart of LA's vibrant Westside and just blocks from the ocean, 621 San Vicente Blvd. is a Mid-Century property built in 1960 by famed architect Kenneth Lind and consists of one building with three floors of residential units over 1 level of subterranean parking. The building features an incredible unit mix, with 28 out of the 29 units being extra large 2 bedroom 2 bath floor plans flooded with natural light. First floor units enjoy a massive front patio, while 2nd and 3rd floor units have great views. The property has HUGE rental upside (only 6 of the units have been luxuriously renovated), and current rents hover at just $2.00 per square foot. Additionally, there is currently a vacant storage room that could be rented for additional income (Buyer to verify). A quick walk to the high-end dining, nightlife, the Santa Monica Stairs and the beach. This ultra rare value add offering presents an astute investor with the unique opportunity to capitalize on higher market rents and to acquire a prestigious turnkey asset in one of the best rental locations in all of Los Angeles. ALSO AVAILABLE FOR SALE IS AN INCREDIBLE 36 UNIT PROPERTY AT 305 SAN VICENTE BLVD.
Exterior Features

Parking Features Assigned Parking Total 29 Pool Features In Ground

Interior Features

Appliances Microwave Flooring Stone Heating Wall Furnace Heating YN Yes

Property Features

Association Fee 0 Gross Income 985836 Listing Agreement Seller Reserved Listing Service Full Service Net Operating Income 546221 New Construction YN No Senior Community YN No Special Listing Conditions Standard Zoning Smr2*



Based on information from California Regional Multiple Listing Service, Inc. as of 2022-08-07T11:28:28.35. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Nest Real Estate. Licensed in the State of California, USA.
 
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Nest Real Estate
21804 Cactus Ave ste 101
Riverside CA, 92518
Listing Agent(s): Jonathan Taksa of Remax Commercial And Investment Realty (213-817-1000)