12.5 GRM with Maximum Allowable Rents (MARs) in place! Rents and Gross income, listed below, are with MARs. First time on the market! Great value-add opportunity on this 10 unit property. Current rents are 15% below the City of Santa Monica MARs. Raise the rents with proper notice to the tenants (Buyer to confirm with Santa Monica Rent Control). Gross Annual Income using MARs is $280,556 (12.5 X gross). Gross Annual Income using current rents is $237,884. See current Rent Roll and MAR rent roll (see documents tab). There are (6) 2 bedrooms/2 bathrooms and (4) 1 bedroom/1 bathroom apartments.12 car parking. The 2 front 2 bedrooms/2 bathroom units are split level with high ceilings. Good long term upside in rents. Close to restaurants and shopping in sunny Santa Monica! Seller provided a soft-story retrofit proposal (see documents tab) Inside with an accepted offer. Please do not disturb tenants. Please text for the quickest response. Voicemail and email also answered promptly. Thank you for your interest!

Listing courtesy of David Putnam of Berkshire Hathaway HomeServices California Properties

Based on information from the The MLS as of 2024-12-12 03:53 AM UTC. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.