Situated in the picturesque Ocean Park neighborhood of Santa Monica, 2306 3rd Street stands as a rare gem for investors seeking a prestigious addition to their portfolio. Sitting on a double lot, this legacy 12-unit property features an eclectic mix of residential options, including (1) 4-unit building, (1) duplex, (1) single-family residence with an attached studio, and (4) detached bungalows. With a unit mix of (3) 2-bed/1-bath, (8) 1-bed/1-bath, and (1) studio, the property offers a total of 7,937 square feet of rentable space on a generous 12,703 square foot lot.
Boasting a 3.51% CAP rate and a market CAP rate of 5.23%, the investment potential is substantial. Residents enjoy the perfect blend of comfort and convenience, enhanced by the property's prime location. Positioned just blocks from the beach and within walking distance of top-tier retail and restaurants, 2306 3rd Street benefits from its enviable location between Venice Beach and Downtown Santa Monica.
Whether you're seeking steady returns or aiming to capitalize on the area's dynamic growth, this property represents a compelling opportunity in coveted location.
Additional Features
- None
- 11-15 Units/Acre
- Parking spaces: 0.00
- Listing Status: Active
- Listing Agent: Brett Lyon
(lic# 01717818)
of South Bay
- Listing Office: Lyon Stahl Investment Real Estate, Inc.
(lic# 01972083)
- CO-Listing Agent: Woody Stahl
(lic# 01399621)
of Pacific West
- CO-Listing Office: Lyon Stahl Investment Real Est
(lic# 01972083)
-
Based on information from CRISNet MLS as of 21st November 2024 at 11:45am. 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.
