Active
2306 3rd Street
Santa Monica CA, 90405
$4,750,000
$598.46 per sqft
Active
7,937 sqft
Multi-family
Built in 1924
Listed by Brett Lyon with Lyon Stahl Investment Real Estate, Inc. 3107801899
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.
SB24155287
MLSⓇ ID
July 29, 2024
Listed
December 22, 2024
Updated
Map
2306 3rd Street
Santa Monica CA, 90405
Interior Features
Total Stories
2
Laundry Description
Common Area
Fireplace
No
Fireplace Description
None
Cooling
No
Cooling Description
None
Heating
No
Heating Description
None
Exterior/Building Features
Lot Size
0.14 Acres
Lot Features
11-15 Units/Acre
Sewer
Public Sewer
Other Property Details
Area Name
C14 - Santa Monica
Days on Market
142
Garage
No
Parking Total
0
View
No
County
Los Angeles
Water Source
Public
Pool
No
Pool Features
None
Zoning
SMOP2*
Listing History
Date | Event | Price |
|---|---|---|
12/17/2024 | Price change | $4,750,000 -5% |
10/21/2024 | Price change | $4,950,000 -10% |
Listing Contact: 310-425-9838
Based on information from the California Regional Multiple Listing Service (CRMLS) as of 12/22/2024. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, the Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. Any offer of compensation is made only to participants of the MLS where the listing is filed.
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Data last updated on 12/22/2024 at 1:18 AM UTC