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.

24392515

MLS ID

May 15, 2024

Listed

May 25, 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

8


Garage

No


Parking

Uncovered


Parking Total

9


View

No


County

Los Angeles


Pool

No


Zoning

SMR3*


Buyer Agency Compensation

2.5%

Listing Contact: 424-394-1030 

Based on information from the California Regional Multiple Listing Service (CRMLS) as of 5/25/2024. 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.

©2024 California Regional Multiple Listing Service (CRMLS) all rights reserved.

Data last updated on 5/25/2024 at 2:27 AM UTC

 

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