$2,195,000
Santa Monica, CA 90405
3
Beds
3
Baths
1,584
Sq. Ft.
1924
Year Built
Los Angeles
County
ResidentialIncome
Property Type
SWEET! THREE CLASSIC 1924 Bungalow Cottages from the times when Old Hollywood would drive across open land to get to the 'beach town' of Santa Monica. Not on the market in 57 YEARS. The play: Restore Cottages & Rent Short Term and add a 4th junior ADU for MASSIVE CASH FLOW (no Tenant occupancy for 57 years, so no low-income or rent-control issues), OR Build 4 New Condos (COMPS & zoning analysis written by architect from Santa Monica Architectural Review Board attached, exceptions for lot width can apply ~call) OR build a larger 3+ story building (some restrictions would apply). Per architect, 3 New Units of 1750 +/- sq ft each can be built on the lot, plus the Jr ADU (Do your own research & investigations ~ don't rely on statements here ~ and RECOGNIZE the Opportunity). Alley access to the rear of the lot for parking access. A Condo one block away sold for $2.5M last year (see 1919 4th Ave). Excellent PENCIL POTENTIAL. 4 BLOCKS TO BEACH & Prime Main Street, DTSM very close, PCH & 10 access at your fingertips! See attached DOCS; Interested parties are not to rely on statements from this listing as to viability of future projects; all are directed to make their own investigations.
$11,683/mo
20% down · 7% APR · 30-yr fixed
Estimate only. Does not include taxes, insurance, or HOA.
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