1045 Ocean Avenue

    Santa Monica, CA 90403
    • $15,990,000
    • STATUS: Active
    • ON SITE: 96 days
    • ID#: AR19163260
    UPDATED: 12 min ago
    $15,990,000
    • 0
      BEDS
    • 0.26
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 15,005
      SQFT
    • $1,066
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1922
    County:

    School Ratings & Info

    Description

    Steps from the beach in Santa Monica and walking distance to some of the best amenities in Santa Monica (world-famous Santa Monica Beach, Santa Monica Pier, Santa Monica Third Street Promenade, etc.), 1045 Ocean Avenue offers investor a once-in-a-lifetime opportunity to own an apartment asset in a truly irreplaceable location that could be considered as one of the best location in Southern California. 1045 Ocean Ave is a 20-unit apartment in Downtown Santa Monica. It is located on Ocean Ave between California Ave and Washington Ave. It is located a block away from Third Street Promenade on Wilshire Blvd, across the street from Palisades Park that offers unobstructed ocean view of Pacific Ocean, Santa Monica Beach, Santa Monica Pier and Southern California coastline. It is within walking distance to all the best amenities Santa Monica has to offer, including Metrolink light-rail station on Colorado Ave. The property is a 2-1/2 story apartment that was built in 1922. It has a total of +-15,005 square feet building size (per profile) and situated on a +-11,260 square feet R3 lot. It is surrounded by much higher density residential properties on its left and right. Several units have been upgraded and six units can be delivered vacant at close of escrow.

    Monthly Payment Calculator



    Based on information from California Regional Multiple Listing Service, Inc. as of 2019-10-15T14:38:33.54. 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 deemed reliable but is not guaranteed accurate by the MLS or J1 REALTY GROUP. Licensed in the State of California, USA.
    www.j1re.com/homes/96751806

    1045 Ocean Avenue Santa Monica, CA 90403

    • Price: $15,990,000
    • Status: Active
    • Updated: 12 min ago
    • ID#: AR19163260
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.26
    Acres
    15,005
    SQFT
    $1,066
    $/SQFT
    1922
    Built
    Neighborhood:
    C14 - Santa Monica
    County:
    Los Angeles
    Area:
    C14 - Santa Monica
    Property Description
    Steps from the beach in Santa Monica and walking distance to some of the best amenities in Santa Monica (world-famous Santa Monica Beach, Santa Monica Pier, Santa Monica Third Street Promenade, etc.), 1045 Ocean Avenue offers investor a once-in-a-lifetime opportunity to own an apartment asset in a truly irreplaceable location that could be considered as one of the best location in Southern California. 1045 Ocean Ave is a 20-unit apartment in Downtown Santa Monica. It is located on Ocean Ave between California Ave and Washington Ave. It is located a block away from Third Street Promenade on Wilshire Blvd, across the street from Palisades Park that offers unobstructed ocean view of Pacific Ocean, Santa Monica Beach, Santa Monica Pier and Southern California coastline. It is within walking distance to all the best amenities Santa Monica has to offer, including Metrolink light-rail station on Colorado Ave. The property is a 2-1/2 story apartment that was built in 1922. It has a total of +-15,005 square feet building size (per profile) and situated on a +-11,260 square feet R3 lot. It is surrounded by much higher density residential properties on its left and right. Several units have been upgraded and six units can be delivered vacant at close of escrow.
    Exterior Features

    Carport Spaces 0.00 Garage Spaces 6.00 Lot Features 36-40 Units/AcreLevel With StreetLot 10000-19999 Sqft Lot Size Source Assessor Lot Size Units Square Feet Parking Features Assigned Parking Total 6.00 Parking YN Yes Pool Features None Pool Private YN No Property Attached YN Yes Roof Flat View CoastlineOceanPanoramicPeek-A-BooWater View YN Yes

    Interior Features

    Average Studio Area Units Square Feet Average1 Bed Area Units Square Feet Average2 Bed Area Units Square Feet Average3 Bed Area Units Square Feet Common Walls 2+ Common Walls Cooling Wall/Window Unit(S) Cooling YN Yes Fireplace Features None Fireplace YN No Flooring LaminateWood Heating Wall Furnace Heating YN Yes Laundry Features Common AreaCommunity Levels Three Or More

    Property Features

    Additional Parcels YN No Association Fee 0.00 Association YN No Building Area Units Square Feet Community Features BikingDog ParkWatersportsUrban Country Us Electric Standard Electric Expense 5967.00 Elevation Units Feet Fuel Expense 0.00 Gross Income 560146.00 Gross Operating Income 543342.00 Gross Scheduled Income 560146.00 Insurance Expense 5263.00 Land Lease YN No Laundry Equipment Own Lease Lease Laundry Income 1511.00 Laundry YN Yes Maintenance Expense 30464.00 Net Operating Income 260649.00 New Construction YN No New Taxes Expense 195512.00 Number Of Separate Electric Meters 1 Number Of Separate Gas Meters 1 Number Of Separate Water Meters 1 Number Of Units Leased 14 Number Wall AC 20 Number With Dishwasher 0 Number With Disposal 20 Number With Range 20 Number With Refrigerator 0 Operating Expense 282693.00 Professional Management Expense 16791.00 Property Sub Type Apartment Rent Control YN Yes Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Tenant Pays None Total Actual Rent 46526.00 Total Expenses 282693.00 Trash Expense 4318.00 Utilities Cable ConnectedElectricity ConnectedNatural Gas ConnectedPhone ConnectedSewer ConnectedWater Connected Vacancy Allowance Rate 3.00 Water Sewer Expense 3131.00 Water Source Public Year Built Source Assessor Zoning Smr3*

    Listing provided courtesy of Handoko Chen of Gig Real Estate Inc.


    Based on information from California Regional Multiple Listing Service, Inc. as of 2019-10-15T14:38:33.54. 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 deemed reliable but is not guaranteed accurate by the MLS or J1 REALTY GROUP. Licensed in the State of California, USA.
     
    J1 REALTY GROUP
    16755 Von Karman Ave, Ste 200
    Irvine CA, 92606