423 OCEAN AVENUE

Estimated Monthly Payment: $72,963/mo 423 OCEAN AVENUE, Santa Monica, CA 90402 MLS# 818005507 Residential Income Listing Status: Active
28
18
17,900 sqft
30
33
0
0

REMARKS:

423 Ocean is a generational opportunity to acquire a vacant 16-unit apartment building with underlying entitlements for 12 condominium units located on prime Ocean Avenue, north of Montana Avenue, in the City of Santa Monica. The existing apartment units have been vacated pursuant to the Ellis Act in anticipation of building the condominium project. A future Buyer will have the option of rehabbing the existing units and re-leasing them at current market rents (subject to rent control going forward) or executing the approved condominium development plan. The existing buildings are designated historical landmarks, which have been incorporated into the future development plan.

OVERVIEW:

20181105203539681948000000:PFR
Residential Income
Active
Santa Monica
1936
17900
15
1

FEATURES:

Other
Other
Other
Other
Bluff, Ocean View, Panoramic View, Park Or Green Belt View, Water View

ROOM INFO:

28
18
18

FINANCIAL:

$16,000,000

NEIGHBORHOOD & SCHOOL INFORMATION:

Broker Reciprocity Courtesy of Richard Byrd - Park Place Partners, Inc.

 

01369850 

 

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Data last updated: 12/12/2018