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Image 1 - 2598 11th Street, Santa Monica, CA 90405, USA - House for sale

Image 2 - 2598 11th Street, Santa Monica, CA 90405, USA - House for sale

Image 3 - 2598 11th Street, Santa Monica, CA 90405, USA - House for sale

Home For Sale In Santa Monica, California

2598 11th Street, Santa Monica, CA 90405, USA

Home For Sale In Santa Monica, California

house for sale

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Listed: 03/07/24

2598 11th Street, Santa Monica, CA 90405, USA

Studio Bed:

5,296 Sq Ft Living Area:

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Price

$ 2,88M

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About This House

1047 Ocean Park Blvd is a5, 296-square-foot, seven-unit apartment building located in the Ocean Park Submarket in the City of Santa Monica. Situated on a6, 617-sf corner lot, the property contains a highly desirable unit mix of (five) 2-bedroom/1-bathroom units and (two) studio units, while (one) 2-bedroom/1-bathroom unit is a spacious townhome. The property was retrofitted within the last two years; foundational work was completed in 2023, and a new concrete driveway was installed in November 2022. Furthermore, there are a total of ten parking spaces with four additional tandem spots. 1047 Ocean Park Blvd provides an investor with the opportunity to own a trophy asset in a desirable pocket of Santa Monica! The asset has a value-add component with approximately 42% in rental upside and a 6.50% pro-forma cap rate and 11.07 pro-forma GRM!

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Household Income

Median household income: $86,084

Number of households: 46,358

The average household income in Santa Monica, CA grew from $82,123 to $86,084 in the past year. This data is an estimate based upon 46,358 households in Santa Monica, CA.
The chart below presents how household income is distributed in Santa Monica, CA in comparison to the revenue allocation amid households nationally.

Property Taxes

Average range: $3k+

One of the most important aspects for property owners is the amount of property taxes. This graph shows distribution of property taxes in Santa Monica, CA compared to median property taxes around the country. The prevalent amount of property taxes in Santa Monica, CA equals $3k+ , which is more than the national average.

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