Property listed by Berkshire Hathaway HomeServices California Properties, Dennis Adelpour 310-207-7080
$4,099,000
Introducing a rare and unique mixed-use investment opportunity in Santa Monica. 2709 Santa Monica features two front units, and one middle bakery all currently leased on a month-to-month basis, providing a buyer with immediate flexibility to re-tenant, reposition, or adjust rents toward market levels while recapturing the operating expenses via… Read More a NNN lease structure. The commercial component benefits from prominent frontage along a high-traffic Santa Monica Boulevard corridor, surrounded by established businesses and dense residential neighborhoods. The rear of the property consists of three residential units, all currently vacant and market-ready, offering immediate income upside. The unit mix includes: One (1) Studio + 1 Bathroom, One (1) One-Bedroom + 1 Bathroom, One (1) Two-Bedroom + 1 Bathroom (unit includes in-unit laundry). The residential units have been updated and refreshed, featuring a combination of LED lighting, new windows and blinds, upgraded flooring, new countertops, and additional improvements. In addition to the existing improvements, the property includes plans for a proposed three-story building development, presenting a compelling long-term redevelopment or expansion opportunity. A buyer may elect to operate the property in its current configuration while evaluating the development plans and applicable zoning regulations. Strategically positioned along one of Santa Monica's primary east-west thoroughfares and adjacent to West Los Angeles, the property enjoys close proximity to a wide array of restaurants, coffee shops, grocery markets, bars, retail shopping, and daily conveniences, while remaining just a short drive to the beach, nightlife, and major employment hubs. *[Units 1-3 are Residential. Units 4-6 are Commercial] Read Less
Listing Snapshot
Days Online
8
Last Updated
Beds
4
Square Ft.
4,393
Lot Size
0.17 Acres
Year Built
1946
MLS Number
26651121
Additional Details
Building
Built in 1946, Living area: 4393.0, 3 buildings, Building faces South, 2 stories, Levels: One, Two
Community
Gated
Fireplaces
None
Garage
2 spaces
Heating
WallFurnace
Income
Gross Income: $282,772, Net Operating Income: $193,013
Lot
0.1727 acres
Parking
5 open parking spaces, 7 total parking spaces, Driveway, Garage, Tandem
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.
Confirm your time
Fill in your details and we will contact you to confirm a time.
