902 16th St, Santa Monica, CA 90403 – 24-473231 - Norma Mardelli

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$3,600,000

Est. payment - /mo

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7 BD

7 BA

5,560 SqFt

New

902 16th St Santa Monica, CA 90403

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Norma Mardelli

Coldwell Banker

norma@mardellirealestate.com +1(818) 400-3794

UPDATED:

12/18/2024 07:31 PM

Key Details

Property Type Multi-Family

Sub Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 5,560 sqft

Price per Sqft $647

MLS Listing ID 24-473231

Style Other

Bedrooms 7

Year Built 1926

Lot Size 7,503 Sqft

Acres 0.1723

Property Description

Over 5% CAP and stabilized 7 unit apartment building at 902 16th St. apartment is located in a prime Santa Monica neighborhood just one block south of Montana Ave., known for its upscale shopping and dining offering a charming and sophisticated atmosphere close to the beach. Carefully cared for and meticulously managed, this building features bright units with abundant windows and spacious balconies in some units. New roof was also installed this year to the middle structure. Exterior landscaping includes fruit trees and flower beds lining in the front and backyard. Comprising three distinct buildings, the property includes:* Building #1- facing 16th Street with four units: 902A & 904A on the ground floor, and 902B & 904B upstairs. Each floor shares a washer/dryer set between two units.* Building #2- standalone one-bedroom house at 1522 Idaho Ave, facing Idaho Ave.* Building #3- Two one-bedroom units situated above five garages facing Idaho Ave. 3 Units on Idaho Ave share a laundry room. This trophy property weathered the pandemic rental market downturn and historically has experienced low vacancy and fast turnovers. It offers a rare blend of prime location and sound investment, ideal for discerning buyers looking to invest in a well-maintained asset with steady rental income.

Location

State CA

County Los Angeles

Area Santa Monica

Zoning SMR2*

Rooms

Other Rooms None

Interior

Heating Other, Wall

Cooling Other

Flooring Mixed

Equipment Other

Laundry Inside, Room, Community

Exterior

Parking Features Garage - 4+ Car

Garage Spaces 5.0

Pool None

Building

Story 2

Water District

Architectural Style Other

Level or Stories Two, One

Others

Special Listing Condition Standard

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Listed by Coldwell Banker Realty