CA > Santa Monica
Santa Monica, CA 90405,729 Cedar Street
Santa Monica, CA 90405,729 Cedar Street
Santa Monica, CA 90405,729 Cedar Street
9
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$2,250,000
Est. payment /mo
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6 Beds
5,995 Sqft Lot
Price Dropped by $145K

729 Cedar Street Santa Monica, CA 90405

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Kurt Wannebo

Kurt Wannebo

+1(858) 405-5878

UPDATED:

Key Details

Property Type Multi-Family

Sub Type Res Income 2-4 Units

Listing Status Active

Purchase Type For Sale

MLS Listing ID SB25201120

Bedrooms 6

Lot Size 5,995 Sqft

Property Sub-Type Res Income 2-4 Units

Property Description

Introducing a meticulously maintained investment opportunity in the heart of Santa Monicas sought-after Ocean Park neighborhood. Walkable distance from the beach and two blocks from the peaceful greenery of Joslyn Park, this solid asset offers exceptional value with a current CAP rate of 2.85%. Current expenses include a property management fee, $6,000 per year, so if the Buyer elects to self-manage the property and thereby eliminates management expenses, the potential CAP rate could increase to 3.1%, with a potential market CAP rate of 4.5% with market rents. Residents enjoy quick access to many everyday conveniences along Lincoln Boulevard, including Gelsons, Whole Foods Market, popular coffee shops, and a wide variety of restaurants, as well as the vibrant shops and dining of Abbot Kinney and Main Street. Santa Monicas excellent Transit Score of 75 and Bike Score of 72 make every destination within easy reach.

Location

State CA

County Los Angeles

Zoning Assessor

Direction Lincoln Bl and Cedar St

Interior

Fireplace No

Exterior

View Y/N No

Building

Story 2

Level or Stories 2

Others

Senior Community No

Tax ID 4287001013

Acceptable Financing Conventional

Listing Terms Conventional

MLS Router / San Diego MLS
Listed by Takeshi Kida Takeshi Kida

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Kurt Wannebo

Kurt Wannebo

Broker Associate | CA Dre# 01468255

+1(858) 405-5878

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729 Cedar Street

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