Active
2626 Cloverfield Blvd
Santa Monica CA, 90405
$4,995,000
$839.78 per sqft
Active
11 Beds
12 Baths
5,948 sqft
Multi-family
Built in 1966
Huge 650k Price Reduction & Now 100% Occupied! 12 Unit building with 10 fully renovated units in Prime Santa Monica cash flowing at an incredible Current Cap Rate of 5.8% and 12.6 GRM from day 1! Priced at only 416k/door for renovated units with an amazing upside to 6.7% Cap Rate and 11.2 GRM on the proforma. Delivered with 10 fully renovated units with permits including 8 remodeled units plus 2 brand-new attached ADUs. These units have been completely renovated with permits (100% occupied) and boast a high-end aesthetic with new modern cabinets, flooring, recessed lighting, new bathrooms, stainless steel appliances, washer/dryer inside, as well as major exterior capital improvements. Notably, there are preliminary plans for 2 additional detached ADUs over the open parking lot in the back that offer exceptional future upside potential. The property is located in the heart of Santa Monica just minutes away from the Beach and within close proximity to Santa Monica Business Park as well as hip neighborhood attractions, restaurants, bars, and shops such as Layla Bagels, Local Kitchen & Wine Bar, Estate Coffee, and many more popping up all around the area.
24-464145
MLSⓇ ID
November 15, 2024
Listed
November 23, 2024
Updated
Map
2626 Cloverfield Blvd
Santa Monica CA, 90405
Interior Features
Total Stories
2
Bedrooms
11
Total Bathrooms
12
Appliances
Refrigerator, Range/Oven
Fireplace
No
Cooling
Yes
Cooling Description
Ceiling Fan
Heating
Yes
Heating Description
Wall
Exterior/Building Features
Lot Size
0.14 Acres
Other Property Details
Area Name
Santa Monica
Days on Market
8
Garage
No
Parking
Uncovered
Parking Total
9
View
No
County
Los Angeles
Pool
No
Zoning
SMR3*
Listed by Armin Soleimani with Global Platinum Properties, Inc.
Listing Contact: 310-666-2246
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Data last updated 11/23/2024