Active
821 Maple St
Santa Monica CA, 90405
$2,095,000
$536.63 per sqft
Active
8 Beds
6 Baths
3,904 sqft
Multi-family
Built in 1950
Discover an excellent investment opportunity with this remarkable property, featuring six cash-flowing units with a solid 5.08% cap rate and a per-unit cost of under $350,000. Three of the six units have already been renovated to meet modern living standards, complete with in-unit washer/dryers, ensuring higher rental demand and tenant satisfaction. The other three units offer considerable upside potential, with an aggregate 40% increase in rent achievable for the property, providing an excellent opportunity for the new owner to boost returns.The smart layout offers two spacious upstairs units, each with two bedrooms and one bathroom, complemented by expansive balconies perfect for enjoying warm Santa Monica evenings. Meanwhile, the four downstairs units feature one-bedroom layouts, ideal for singles or couples, providing a versatile mix of living options. All units are currently leased, guaranteeing immediate cash flow, and the property includes six on-site surface parking spaces, a rare find in this area, adding both convenience and desirability.Located less than one mile from sun-kissed beaches, the world-famous Main Street, Rose Avenue, and Santa Monica College, this property offers residents an unparalleled coastal lifestyle in one of the most desirable neighborhoods in Santa Monica. The area is known for its vibrant community, trendy dining, boutique shopping, and cultural attractions, which consistently drive demand for quality rental housing. Additionally, this property is situated in a rapidly appreciating neighborhood, offering significant long-term upside potential for investors.In such a competitive market where multi-unit properties are scarce and tend to sell quickly, this is a golden opportunity to expand your portfolio or enter the market with a high-performing, cash-flowing asset in a fantastic location. With the potential for rent increases and property appreciation, coupled with possible tax benefits associated with owning investment real estate, this property represents a smart and strategic investment. Don't miss out on this chance to secure a valuable asset with considerable upside potential.
24-436183
MLSⓇ ID
September 5, 2024
Listed
October 2, 2024
Updated
Map
821 Maple St
Santa Monica CA, 90405
Interior Features
Total Stories
2
Bedrooms
8
Total Bathrooms
6
Appliances
None
Fireplace
No
Cooling
Yes
Cooling Description
Ceiling Fan
Heating
Yes
Heating Description
Wall
Exterior/Building Features
Lot Size
0.15 Acres
Lot Features
Alley Paved, Fenced Yard
Architectual Style
Traditional
Other Property Details
Area Name
Santa Monica
Days on Market
20
Garage
No
Parking
Assigned
Parking Total
0
View
Yes
View Description
Other
County
Los Angeles
Water Source
District
Pool
No
Zoning
SMR2*
Listed by Armin Soleimani with Global Platinum Properties, Inc.
Listing Contact: 310-666-2246
Based on information from The MLSTM / Combined LA/Westside Multiple Listing Service, Inc. IDX information is provided exclusively for consumers' personal, non-commercial use, it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All information is deemed reliable but not guaranteed and should be independently reviewed and verified. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. All properties are subject to prior sale, change or withdrawal, and may or may not be listed by the office/agent presenting the information. Neither listing broker(s) nor Marty Halfon | CA DRE# 00669674 shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless.
©2024 Combined L.A./Westside MLS. All rights reserved.
Data last updated 10/2/2024