1307 17th St, Santa Monica, CA 90404

Property Description

CALL FOR OFFERS! ALL OFFERS DUE TUESDAY 9/24/19 - We are pleased to present 1307 17th Street, a value-add 7-unit multifamily investment property located in prime North Santa Monica. This beautiful Garden Style property has a unique composition of seven (7) one-bedroom/one-bathroom bungalows each with their own: laundry room, sit-in kitchen, garden area and front porch and back door, a community court yard and two large picnic areas perfect for BBQs and outdoor entertainment. One unit will be delivered VACANT at the close of escrow, offering immediate rental upside. The Bungalow style layout in Santa Monica is one in high demand and very difficult to find – this opportunity won’t last long. 1307 17th Street is ideally located within walking distance to both Saint John’s Hospital Center and UCLA Medical Center, two of the largest employers in Santa Monica. The central location gives tenants easy access to a large variety of workplace and entertainment options. Situated on an 11,259 SF Lot, operating at a 4.45% CAP rate with in-place rents - 1307 17th Street offers an astute investor the opportunity to acquire a multifamily asset in one of the most desirable neighborhoods of Southern California. By implementing a value-add program to raise rents to market levels, 1307 17th Street is a truly unique and lucrative investment. 4 onsite garages each rented to outside parties at $400/m providing additional income of $1200/m. Please do not walk the property or disturb tenants.