Active
2626 Cloverfield Boulevard
Santa Monica CA, 90405
$4,995,000
$839.78 per sqft
Active
11 Beds
12 Baths
5,948 sqft
Residential
Built in 1966
Listed by Armin Soleimani with Global Platinum Properties, Inc. 424-394-1030
Huge 650k Price Reduction! 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 (2 vacant) 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.
24364849
MLSⓇ ID
March 4, 2024
Listed
April 9, 2024
Updated
Map
2626 Cloverfield Boulevard
Santa Monica CA, 90405
Interior Features
Total Stories
2
Bedrooms
11
Total Bathrooms
12
Appliances
Refrigerator
Fireplace
No
Cooling
No
Heating
Yes
Heating Description
Wall Furnace
Exterior/Building Features
Lot Size
0.14 Acres
Other Property Details
Area Name
C14 - Santa Monica
Days on Market
35
Garage
No
Parking
Uncovered
Parking Total
9
View
No
County
Los Angeles
Pool
No
Zoning
SMR3*
Buyer Agency Compensation
2.5%
Listing History
Date | Event | Price |
|---|---|---|
4/8/2024 | Price Change | $4,995,000 -3% |
Listing Contact: 424-394-1030
Based on information from the California Regional Multiple Listing Service (CRMLS) as of 4/9/2024. 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 4/9/2024 at 1:10 AM UTC