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2615 2nd Street

Santa Monica, CA 90405
  • $4,080,000
  • STATUS: Active
  • ON SITE: 74 Days
  • ID#: AR23176881
UPDATED: 53 min ago
$4,080,000
  • 0
    BEDS
  • 0.15
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
Built:
1962
County:

School Ratings & Info

Listing Agent(s): Han Chen of Growth Investment Group Pasade (626-594-4900)


Description

Priced to Sell at $120,000 lower than what Seller bought it for in 2016. 2615 S 2nd St, a prime apartment complex boasting 7 units situated just 2 blocks from the water. The property is in the Ocean Park area, just a block from Main Street. Only 2 blocks from the beach, this property has an almost perfect walk score of 98 and bike score of 86. It is located in an excellent demographics area of $131,779 average household income within a mile radius. The property has been upgraded extensively and its soft-story parking has been seismically retrofitted. It has copper plumbing throughout, updated sewer line, updated electrical, and double pane windows throughout. In addition, the property has security camera systems installed. The property is an attractive 2-story modern, mid-century apartment that was built in 1962. It offers an excellent curb appeal and has a total of 4,696 square feet building size; it is situated on a 6,487 square feet lot. The property offers six (6) 1bedroom+1bathroom and one (1) large 2bedroom+2bathroom units. All units (except #1) have been completely upgraded with modern upgrades which include recessed lighting, new flooring throughout, in-unit washer/dryer, new kitchen with quartz countertops + new kitchen cabinets + dishwasher, new bathroom with new vanity cabinets, and mirrored closet doors. The 2 bedroom unit is large and bright with desirable layout and has been fully upgraded. There are 7 assigned parking spaces (5 carports + 2 open). The parking soft-story area has been seismically retrofitted according to code. Each unit is separately metered for electricity and gas.Located in the southwest corner of Santa Monica is the Ocean Park neighborhood. The Ocean Park neighborhood is unique in the sense that it has one of the highest proportions of one, two, or no (studio) bedroom real estate of any neighborhood in America. This means it has a higher proportion of its residents employed as executives, managers and professionals in comparison to the 98.4% of the neighborhoods in America. Many Santa Monica residents come to shop/browse on Main Street, home of many boutiques, restaurants, as well as a local farmers market every Sunday. SMASH (an alternative school), Olympic High and John Muir elementary are schools located in the neighborhood.

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Based on information from California Regional Multiple Listing Service, Inc. as of 2023-12-05T10:29:20.113. 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 Twiss Realty Group - Brokered by EXP. Licensed in the State of California, USA.
www.twissrealty.com/homes/143603472
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2615 2nd Street Santa Monica, CA 90405

  • Price: $4,080,000
  • Status: Active
  • On Site: 74 Days
  • Updated: 53 min ago
  • ID#: AR23176881
0
Beds
0
Baths
0
½ Baths
0.15
Acres
1962
Built
Neighborhood:
C14 - Santa Monica
County:
Los Angeles
Area:
C14 - Santa Monica
Property Description
Priced to Sell at $120,000 lower than what Seller bought it for in 2016. 2615 S 2nd St, a prime apartment complex boasting 7 units situated just 2 blocks from the water. The property is in the Ocean Park area, just a block from Main Street. Only 2 blocks from the beach, this property has an almost perfect walk score of 98 and bike score of 86. It is located in an excellent demographics area of $131,779 average household income within a mile radius. The property has been upgraded extensively and its soft-story parking has been seismically retrofitted. It has copper plumbing throughout, updated sewer line, updated electrical, and double pane windows throughout. In addition, the property has security camera systems installed. The property is an attractive 2-story modern, mid-century apartment that was built in 1962. It offers an excellent curb appeal and has a total of 4,696 square feet building size; it is situated on a 6,487 square feet lot. The property offers six (6) 1bedroom+1bathroom and one (1) large 2bedroom+2bathroom units. All units (except #1) have been completely upgraded with modern upgrades which include recessed lighting, new flooring throughout, in-unit washer/dryer, new kitchen with quartz countertops + new kitchen cabinets + dishwasher, new bathroom with new vanity cabinets, and mirrored closet doors. The 2 bedroom unit is large and bright with desirable layout and has been fully upgraded. There are 7 assigned parking spaces (5 carports + 2 open). The parking soft-story area has been seismically retrofitted according to code. Each unit is separately metered for electricity and gas.Located in the southwest corner of Santa Monica is the Ocean Park neighborhood. The Ocean Park neighborhood is unique in the sense that it has one of the highest proportions of one, two, or no (studio) bedroom real estate of any neighborhood in America. This means it has a higher proportion of its residents employed as executives, managers and professionals in comparison to the 98.4% of the neighborhoods in America. Many Santa Monica residents come to shop/browse on Main Street, home of many boutiques, restaurants, as well as a local farmers market every Sunday. SMASH (an alternative school), Olympic High and John Muir elementary are schools located in the neighborhood.
Exterior Features

Architectural Style Mid-Century Modern Carport Spaces 5 Carport YN Yes Direction Faces Southwest Entry Level 1 Entry Location 1 Lot Features LevelNear Public TransitRectangular LotStreet Level Number Of Separate Electric Meters 8 Open Parking Spaces 2 Parking Features AssignedCarport Parking Total 7 Pool Features None Pool Private YN No Property Attached YN Yes Roof Flat Spa Features None Spa YN No

Interior Features

Appliances DishwasherGas RangeDryerWasher Common Walls 2+ Common Walls Cooling Wall/Window Unit(S) Cooling YN Yes Fireplace Features None Fireplace YN No Flooring CarpetVinylWood Heating Wall Furnace Heating YN Yes

Property Features

Additional Parcels YN No Association Fee 0 Association YN No Cap Rate 3.56 Common Interest Community Apartment Community Features Urban Current Financing None Electric Standard Electric Expense 1064 Fuel Expense 1948 Garage YN No Gross Income 237378 Gross Scheduled Income 237378 Insurance Expense 3417 Land Lease YN No Laundry Features InsideNone Levels Two Listing Agreement Exclusive Right To Sell Listing Service Full Service Listing Terms CashCash To New Loan Maintenance Expense 9000 Net Operating Income 145270 New Construction YN No New Taxes Expense 46150 Number Of Separate Gas Meters 8 Number Of Separate Water Meters 1 Number Of Units Leased 7 Operating Expense 87360 Possession Close Of Escrow Property Condition Updated/Remodeled Property Sub Type Apartment Rent Control YN Yes Security Features Security SystemCarbon Monoxide Detector(S)Smoke Detector(S)Security Lights Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Supplies Expense 2976 Tenant Pays ElectricityGas Total Actual Rent 19782 Trash Expense 2579 Utilities Cable ConnectedElectricity ConnectedNatural Gas ConnectedPhone AvailableSewer ConnectedWater Connected Vacancy Allowance Rate 2 Water Sewer Expense 3646 Water Source Public Zoning Smop2*



Based on information from California Regional Multiple Listing Service, Inc. as of 2023-12-05T10:29:20.113. 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 Twiss Realty Group - Brokered by EXP. Licensed in the State of California, USA.
 
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Twiss Realty Group - Brokered by EXP
5036 Highway 140
Mariposa CA, 95338
Listing Agent(s): Han Chen of Growth Investment Group Pasade (626-594-4900)