2306 3Rd Street
Santa Monica, CA 90405
$550,000.00 (-10%)
Active for $4,950,000
Beds: N/A Baths: N/A Structure Size: N/A sqft Lot Size: 6,219 sqft
| MLS | SB24155287 |
| Year Built | 1924 |
| Property Type | Mixed Use |
| County | Los Angeles |
| Status | Active |
| Active | $4,950,000 |
| Structure Size | N/A sqft |
| Lot Size | 6,219 sqft |
| Beds | N/A |
| Baths | N/A |
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 4.25% CAP rate and a market CAP rate of 6.35%, 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.
Listing information courtesy of: Brett Lyon, Lyon Stahl Investment Real Estate, Inc. 310-726-3391. *Based on information from the Association of REALTORS/Multiple Listing as of 11/22/2024 and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
Location
Contact a Local Realtor®
Victor Moreno
REALTOR®
Direct: 714.423.0938
Email: Email Me
DRE: 01867678
DRE #01873088
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