Active

2626 Cloverfield Blvd

Santa Monica CA, 90405

$5,100,000


$857.43 per sqft

Active

11 Beds

5,948 sqft

Residential

Built in 1966

Huge 550k Price Reduction! 12 Unit building with 10 fully renovated units in Prime Santa Monica cash flowing at an incredible Current Cap Rate of 5.7% and 12.9 GRM from day 1! Priced at only 425k/door for renovated units with an amazing upside to 6.6% Cap Rate and 11.4 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 (3 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.

24-345227

MLS ID

January 8, 2024

Listed

February 15, 2024

Updated

Map

2626 Cloverfield Blvd
Santa Monica CA, 90405

Interior Features

Total Stories

2


Bedrooms

11 Beds


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

30


Garage

No


Parking

Uncovered


Parking Total

9


View

No


County

Los Angeles


Pool

No


Zoning

SMR3*

Listing History

Date

Event

Price

2/7/2024

Price Change

$5,100,000

-3%

2/6/2024

Price Change

$5,100,000

-3%

Listed by with Global Platinum Properties, Inc.
Listing Contact: 310-666-2246 

Based on information from The MLSTM / Combined LA/Westside Multiple Listing Service, Inc. IDX information is provided exclusively for consumers' personal, non-commercial use, it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All information is deemed reliable but not guaranteed and should be independently reviewed and verified. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. All properties are subject to prior sale, change or withdrawal, and may or may not be listed by the office/agent presenting the information. Neither listing broker(s) nor DPP Real Estate shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. 

©2024 Combined L.A./Westside MLS. All rights reserved.

Data last updated 2/15/2024

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