Property listed by Realty Investment Advisors, Inc., Don Favia
$7,750,000
*NOW TOURING* We are proud to present 440 Raymond Ave, a 20-unit multifamily investment opportunity located in the highly sought-after Ocean Park neighborhood of Santa Monica. Held by the same family since 1997, this offering represents a rare opportunity to acquire a Westside asset being offered for sale for the… Read More first time in nearly 30 years. Featuring a desirable courtyard-style layout, the property has benefited from significant capital improvements throughout ownership, including a complete copper plumbing repipe, newer above grade sewer pipes, completed seismic retrofit work, security enhancements, and numerous common area improvements. Additionally, 15 of the property's 20 units have been renovated with updated kitchens and bathrooms, quartz countertops, upgraded cabinetry, wood flooring, ceramic tile finishes, crown molding, LED lighting, and updated appliances. Ownership has completed extensive renovations while leaving additional upside through continued unit turnover.Positioned approximately five blocks from the Pacific Ocean, residents enjoy convenient access to Main Street Santa Monica's restaurants, cafes, boutiques, fitness studios, and neighborhood-serving retail. The property is also located near the Santa Monica Farmers Market, Santa Monica Pier, Abbot Kinney,Third Street Promenade, and the beach bike path. Located in the heart of Silicon Beach, 440 Raymond Ave benefits from proximity to major employment centers throughout Santa Monica, Venice, Playa Vista, Marina del Rey, and Culver City. Convenient access to Lincoln Boulevard, Pacific Coast Highway, and the I-10 Freeway further enhances accessibility throughout the Westside.440 Raymond Ave offers investors a rare opportunity to acquire a well-located Ocean Park apartment asset being offered for sale for the first time in nearly 30 years, with extensive renovations, a walk-to-beach location, and continued rental upside. Read Less
Listing Snapshot
Days Online
34
Last Updated
Beds
28
3/4 Baths
28
Square Ft.
15,820
Lot Size
0.32 Acres
Year Built
1969
MLS Number
26848557
Additional Details
Appliances & Equipment
Oven, Refrigerator
Building
Built in 1969, Living area: 15820.0, 1 building, 2 stories, Levels: Two, Entry location: Ground Level w/steps
Cooling
None
Exterior Features
Patio/Porch Features: Deck
Floors
Carpet
Heating
WallFurnace
Income
Gross Income: $631,196, Net Operating Income: $425,370
Interior Features
CrownMolding
Lot
0.3171 acres
Parking
29 total parking spaces, ControlledEntrance, Covered, Garage, GarageDoorOpener, CommunityStructure
Pool
None
Property
UpdatedRemodeled
Taxes
Parcel Number: 4287020031, Zoning: SMOP2*
Tenant Pays
Electricity, Gas
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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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