Property listed by Lyon Stahl Investment Real Estate, Inc., Yigal Fatirian 310-425-9838
$3,495,000
1824 Michigan Ave is a seven-unit property comprised of two separate structures situated on an over 16,000 SF lot in the heart of Santa Monica. The asset is ideally located minutes from Santa Monica College, the 10 Freeway, Downtown Santa Monica, and major tourist attractions. The property is comprised of… Read More a 3BR/2BA single-family residence that will be delivered vacant, along with a separate six-unit apartment structure. A compelling value-add opportunity exists through the completion of two ADUs, with plans and permits fully approved and paid for, and the structural framework already in place allowing a new owner to immediately capitalize on increased density and rental income with minimal entitlement risk. The unit mix on the six unit building is: One Single, One 1BR, 1BA, Four 2BR, 1BA. The Two approved ADU's that the owner has already began work on are a 2BR 1BA, and a 3BR, 2.5BA. Read Less
Listing Snapshot
Days Online
17
Last Updated
Beds
13
Square Ft.
5,160
Lot Size
0.37 Acres
Year Built
1922
MLS Number
26649501
Additional Details
Building
Built in 1922, Living area: 5160.0, 2 buildings, 1 storey, Levels: One
Cooling
CentralAir
Heating
Central
Income
Gross Income: $285,228, Net Operating Income: $177,597
Laundry
Stacked
Lot
0.3676 acres, Dimensions: 100x160, FrontYard
Parking
4 total parking spaces, Driveway
Property
AdditionsAlterations
Security Features
CarbonMonoxideDetectors, SmokeDetectors
Taxes
Parcel Number: 4274012002, Zoning: SMR2*
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Based on information from California Regional Multiple Listing Service, Inc. as of and/or other sources. 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.
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