1512 Ocean Park Blvd, Santa Monica, CA 90405

6 beds6 baths3,494 sqft

For Sale
$2,245,000
Zestimate®: $2,475,619
Est. Mortgage
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My Notes

Edit
AMAZING OPPORTUNITY to acquire a 4 unit income property with a large 3br, 2.5ba unit at the back that would be perfect for an owner occupier. This larger unit has a gorgeous open plan living room and gourmet kitchen, enormous master bedroom with en suite bath w/spa tub. The 2 additional bedrooms share a bathroom, there is a private back patio area, a laundry / utility room and exclusive access to the two car garage. The 3 other units are 1br/1ba and well maintained with hardwood and tile flooring. Priced to compete with Single Family Residences of the same size and stature but with 3 additional one bedroom units providing potential income of approx. $6000 per month. The property is on a 7000 sq ft lot, and benefits from having two 2 car garages and one uncovered space. As a conventional investment, this low maintenance / operational cost multi family investment property has below market rents giving significant upside potential with an on-market cap rate in the high 4% range.  More Less 

Facts

  • Lot: 7,004 sqft
  • Multi Family
  • Built in 1940
  • 20 days on Zillow
  • Views: 3,351 all time views
  • 8 shoppers saved this home
  • Cooling: Other
  • Heating: Other
  • Price/sqft: $643
  • MLS #: 15-897321

Features

  • Cable Ready
  • Flooring: Hardwood, Tile
  • Parking: Garage - Attached, 3 spaces

Additional Features

  • Listing Agreement: Lease
  • Listing Status: Active
  • Listing Terms: Cash
  • Listing Terms: Cash To New Loan
  • Property Type: Residential Income
  • System Locale: CARETS
  • Unit Furnished01: Unfurnished
  • Unit Furnished02: Unfurnished
  • Building Structure Style: Traditional
  • Lot Size Source: Public Records
  • Driveway
  • Pool Descriptions: No Pool
  • Possession: CloseOfEscrow
  • Square Footage Source: Public Records
  • Tenant Pays: Gas
  • Tenant Pays: Cable TV
  • Tenant Pays: Electricity
  • Unit Furnished03: Unfurnished
  • Unit Furnished04: Unfurnished
  • Legal Disclosures: Take Property As Is (N)
  • Owner Pays: Water
  • Heating Type: Other
  • Other
  • Parking Type: Garage
  • Cooling Type: Other
  • Tenant Pays: Other
  • Floor Material: Hardwood
  • Buyer Financing: Cash
  • Unit Furnished05: Partially
  • Unit Furnished06: Partially
  • Unit Furnished07: Partially
  • Unit Furnished08: Partially
  • Unit Furnished09: Partially
  • Unit Furnished10: Partially
  • Unit Furnished11: Partially
  • Unit Furnished12: Partially
  • Owner Pays: Other
  • Unit Furnished13: Partially
  • CARETS Listing Status: Active
  • Legal Disclosures: Rent Control
  • Buyer Financing: Cash to New Loan
  • Legal Disclosures: Property Report
  • SpecialConditions: Standard Sale
  • Legal Disclosures: Listing Broker Advantage
  • Floor Material: Tile (N)
  • Country: UNITED STATES OF AMERICA

Construction

  • Roof type: Other
  • Stories: 2
  • Structure type: Other
  • Unit count: 4

Other

  • Floor size: 3,494 sqft
  • Heating: None
  • Zillow Home ID: 2106359545

Zestimate Details

Zestimate
A Zestimate home valuation is Zillow's estimated market value. It is not an appraisal. Use it as a starting point to determine a home's value. Learn more

The Value Range is the high and low estimate market value for which Zillow values a home. The more information, the smaller the range, and the more accurate the Zestimate. See data coverage and accuracy table

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$2,475,619
+$0 Last 30 days
$2.20M
$2.75M
Zestimate range
Rent Zestimate A Rent Zestimate is Zillow's estimated monthly rental price, computed using a proprietary formula. It is a starting point in determining the monthly rental price for a specific property. Learn more

The Rent Range is the high and low estimate for which an apartment or home could rent. The more information we have, the smaller the range, and the more accurate the Rent Zestimate. See data coverage and accuracy table
$5,850/mo
+$3,100 Last 30 days
$2.8K
$11K
Zestimate range

Comparable Homes

Homes like this sold for $1.55-3.28M.

$1.36M
$3.47M

Popularity on Zillow

Trending! This home is one of the top 10% most visited in the neighborhood this week.

1,075 views since listing
3,351 all-time (chart)
8 shoppers saved
this home to their list of favorites

Mortgages

Neighborhood: 90405

Zillow predicts 90405 home values will increase 10.4% next year, compared to a 7.2% rise for Santa Monica as a whole. Among 90405 homes, this home is 74.7% more expensive than the midpoint (median) home, but is priced 23.5% less per square foot.

Foreclosures will be a factor impacting home values in the next several years. In 90405, the number of foreclosures waiting to be sold is 20.5% lower than in Santa Monica, and 66.7% less than the national average. This lower local number could help 90405 home values rise more quickly than other regions in Santa Monica.
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Nearby

    For Sale

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    Rentals

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    Other Units in this Building (1)ZestimateBedsBathsSqft
    Apt 4$2.73M32.53,494

    Nearby Schools in Santa Monica

    GreatSchools ratings give an overview of a school's test results. The ratings are based on a comparison of test results for all schools in the state.

    Disclaimer: School attendance zone boundaries are supplied by Maponics and are subject to change. Check with the applicable school district prior to making a decision based on these boundaries.

    Data by GreatSchools.org