1217 9th Street

    Santa Monica, CA 90401
    • $3,700,000
    • STATUS: Active
    • ON SITE: 10 days
    • ID#: OC19192983
    UPDATED: 8 min ago
    $3,700,000
    • 0
      BEDS
    • 0.17
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 3,600
      SQFT
    • $1,028
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1924
    County:

    School Ratings & Info

    Description

    This classic 1924 courtyard style property is located on 9th and Wilshire, a PRIME area of SantaMonica. Residents can easily walk, bike, or take a Bird around town. Just 9 blocks from thebeach, 6 blocks from Third Street Promenade, and steps away from local restaurants, shops andentertainment. Tech giants, such as, Google, Amazon, Yahoo!, YouTube, Facebook, BuzzFeedand so many more have made, or are in the process of making a home for themselves in andaround Santa Monica. These major technology companies, as well as, over 500 tech startupcompanies, has made Santa Monica and west LA known as +G+Silicon Beach,+G- in comparison toSilicon Valley.The seismic soft floor retrofitting was completed on the back unit in the 90+GGs. The building is invery good condition. This is an investor+GGs dream in that the investor can purchase and hold itas is; OR they have enormous potential to add value to the property. Current annual income is$193,557.00. Pro-Forma without any rehab is $264,300.00. Pro-Forma with a complete rehab,could be over $350,000.00, depending on type of construction. This property also has the potential for condo conversion.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2019-08-24T21:33:00.533. 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 Allison James Estates and Homes. Licensed in the State of California, USA.
    www.teamforss.com/homes/97913126

    1217 9th Street Santa Monica, CA 90401

    • Price: $3,700,000
    • Status: Active
    • Updated: 8 min ago
    • ID#: OC19192983
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.17
    Acres
    3,600
    SQFT
    $1,028
    $/SQFT
    1924
    Built
    Neighborhood:
    C14 - Santa Monica
    County:
    Los Angeles
    Area:
    C14 - Santa Monica
    Property Description
    This classic 1924 courtyard style property is located on 9th and Wilshire, a PRIME area of SantaMonica. Residents can easily walk, bike, or take a Bird around town. Just 9 blocks from thebeach, 6 blocks from Third Street Promenade, and steps away from local restaurants, shops andentertainment. Tech giants, such as, Google, Amazon, Yahoo!, YouTube, Facebook, BuzzFeedand so many more have made, or are in the process of making a home for themselves in andaround Santa Monica. These major technology companies, as well as, over 500 tech startupcompanies, has made Santa Monica and west LA known as +G+Silicon Beach,+G- in comparison toSilicon Valley.The seismic soft floor retrofitting was completed on the back unit in the 90+GGs. The building is invery good condition. This is an investor+GGs dream in that the investor can purchase and hold itas is; OR they have enormous potential to add value to the property. Current annual income is$193,557.00. Pro-Forma without any rehab is $264,300.00. Pro-Forma with a complete rehab,could be over $350,000.00, depending on type of construction. This property also has the potential for condo conversion.
    Exterior Features

    Garage Spaces 5.00 Lot Features 11-15 Units/AcreLandscapedLawnLot 6500-9999Rectangular LotNear Public TransitPark NearbyUp Slope From Street Lot Size Units Square Feet Parking Total 5.00 Pool Features None Pool Private YN No Property Attached YN No

    Interior Features

    Average Studio Area Units Square Feet Average1 Bed Area Units Square Feet Average2 Bed Area Units Square Feet Average3 Bed Area Units Square Feet Common Walls No Common Walls Laundry Features Common Area

    Property Features

    Additional Parcels YN No Building Area Units Square Feet Cap Rate 3.50 Community Features BikingCurbsDog ParkFishingFoothillsHikingGuttersHorse TrailsParkWatersportsPreserve/Public LandSidewalksStreet LightsUrban Country Us Electric Expense 449.00 Elevation Units Feet Fuel Expense 437.00 Gross Income 193557.00 Gross Multiplier 19.00 Gross Scheduled Income 193557.00 Insurance Expense 2773.00 Land Lease YN No Laundry YN Yes Net Operating Income 129368.00 New Construction YN No New Taxes Expense 1.20 Number Of Separate Electric Meters 12 Number Of Separate Gas Meters 12 Number Of Separate Water Meters 12 Number Of Units Leased 11 Operating Expense 64189.00 Professional Management Expense 11394.00 Rent Control YN Yes Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Total Expenses 64189.00 Trash Expense 2893.00 Water Sewer Expense 3012.00 Water Source Public Year Built Source Public Records

    Listing provided courtesy of Elizabeth Altuna of Residential Agent, Inc. and Manuel Galvan of Chris Walter Realty


    Based on information from California Regional Multiple Listing Service, Inc. as of 2019-08-24T21:33:00.533. 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 Allison James Estates and Homes. Licensed in the State of California, USA.
     
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