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2626 Cloverfield Blvd
Santa Monica, CA 90405 Santa Monica

$4,995,000 USD

Apartments For Sale  •  5,948 SF

Property Details

  • Property Type Apartments
  • Total Building Size 5,948 SF
  • Lot Size 0.14 AC
  • Building Class B
  • Year Built 1966
  • Cap Rate 5.80 %
  • Zoning SMR3*
44 Transit Score
80 Walk Score

Highlights

12 Unit building with 10 fully renovated units in Prime Santa Monica cash flowing at an incredible Current Cap Rate of 5.8% and 12.6 GRM from day 1!
Priced at only 416k/door for renovated units with an amazing upside to 6.7% Cap Rate and 11.2 GRM on the proforma.
Delivered with 10 fully renovated units with permits including 8 remodeled units plus 2 brand-new attached ADUs.
Prelim Plans for 2 additional detached (1bed/1bath) ADUs over the open parking area in the back for future upside.
100% Occupancy!

Property Flyers

Cap Rate: 5.80 %

Public Transportation

Transit/SubwayDriveWalkDistance
26Th St/Bergamont (Expo Line - Los Angeles County Metropolitan Transportation Authority (Metro)) 3 min 19 min 1.0 mi
AirportDriveWalkDistance
Los Angeles International 16 min - 7.9 mi
Bob Hope 31 min - 20.6 mi
Long Beach (Daugherty Field) 36 min - 27.4 mi

Parking Details

Parking Available: Yes
Reserved: No
Spaces Provided: 5
Type: Surface
Included in Rent: Yes
Armin Soleimani 310-666-2246 Global Platinum Properties
Armin Soleimani 310-666-2246 Global Platinum Properties