1518 10TH STREET, SANTA MONICA CA 90401
- 10,080 sq.ft.
- 7,490 sq.ft. lot
Property Description
For more information, see OFFERING MEMORANDUM. 1518 10th Street is an 11 unit apartment building with 10,080 square feet in a great Santa Monica beach location. Asking price per unit at $340,909 and per square foot at $372 is below the average sales comps which have sold at $460,000 per unit and $480 per square foot. This is a real opportunity to add value with lots of square footage, a great unit mix and ample parking. Add even more value to this 11 Unit building with the currently existing vacant non-conforming unit as an ADU.This is an underutilized asset which has been in the same ownership for decades. Soft Story Retrofitting is completed. All Electric building other than gas for Laundry. 10 private balconies and lots of storage. Some units have electric fireplaces. Building is clean and the stairways have been resurfaced. Prime Santa Monica beach location in one of the most high demand and desirable rental areas in California and the United States. Santa Monica is known for our beautiful beaches, shops, restaurants and evolving employment hubs. Home to the Santa Monica Pier, vibrant art community of Bergamont Station with numerous galleries and nightlife. The property is in the world-renowned Silicon beach headquarters of many high profile entertainment and technology corporate firms. Located in the desirable Santa Monica Unified School District and close to Santa Monica College. Centrally situated between Santa Monica's happening office parks. Close proximity to the new Metro Station and within a short train ride to many destinations. Santa Monica continues to be a growing vibrant diverse economy. Close to neighboring communities of Prime West Los Angeles, Brentwood, Westwood, Pacific Palisades, Marina Del Rey, Venice Beach, Playa Del Rey and Playa Vista. *Showing with accepted offer only. Do not disturb occupants.
Listing Courtesy of Francyne Lambert, Lambert Investments, Inc.
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