2005 Oak St, Santa Monica, CA 90405

Property Description

Tucked away in a quiet neighborhood, this rent control depressed asset is ideal for an investor looking to reside at the property. This Bungalow-style fourplex is located in the highly desirable beach community of Santa Monica. Positioned in the middle of a tree-lined residential block just south of Ocean Park Blvd. The property is adjacent to the neighborhood's local cafes, markets and shops along Ocean Park Boulevard and not far from Trader Joes, Whole Foods and Costco. Constructed in 1948, this almost 3,000 SF single-story trophy asset sits on 7,010 SF with SMR2 zoning. Comprised of (3) one-bedroom units and (1) light filled three-bedroom one and 3/4 bath middle unit surrounded by gardens. Each unit has been individually metered for gas and electricity. Additional property amenities include a landscaped front and back yards and (5) private, one-car garages. Two of the garages have been converted to an office/storage space with carpeting, lighting, and a window. The community laundry room has a stylish newer floor. 2005 Oak Street presents significant value-add opportunity to investors. With a popular location that is consistently under high demand among high-earning young professionals, 2005 Oak Street affords investors the opportunity to acquire a flexible investment property in this ever-growing metropolitan beach community.