2306 3rd ST Active Save Request In-Person Tour Request Virtual Tour
Santa Monica,CA 90405
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID CRSB24155287
Originating Board California Regional MLS
Year Built 1924
Lot Size 6,219 Sqft
Property Description
Situated in the picturesque Ocean Park neighborhood of Santa Monica, 2306 3rd Street stands as a rare gem for investors seeking a prestigious addition to their portfolio. Sitting on a double lot, this legacy 12-unit property features an eclectic mix of residential options, including (1) 4-unit building, (1) duplex, (1) single-family residence with an attached studio, and (4) detached bungalows. With a unit mix of (3) 2-bed/1-bath, (8) 1-bed/1-bath, and (1) studio, the property offers a total of 7,937 square feet of rentable space on a generous 12,703 square foot lot. Boasting a 4.47% CAP rate and a market CAP rate of 6.67%, the investment potential is substantial. Residents enjoy the perfect blend of comfort and convenience, enhanced by the property's prime location. Positioned just blocks from the beach and within walking distance of top-tier retail and restaurants, 2306 3rd Street benefits from its enviable location between Venice Beach and Downtown Santa Monica. Whether you're seeking steady returns or aiming to capitalize on the area's dynamic growth, this property represents a compelling opportunity in coveted location.
Location
State CA
County Los Angeles
Area C14 - Santa Monica
Interior
Heating No Heating
Cooling None
Laundry Laundry Area
Exterior
Pool None
Building
Water District - Public
Others
Tax ID 4289015012
Special Listing Condition Not Applicable