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    2241 Virginia Ave

    Santa Monica, CA 90404
    • $7,500,000
    • STATUS: Active
    • ON SITE: 35 days
    • ID#: 20-653122
    UPDATED: 71 min ago
    $7,500,000
    • 18
      BEDS
    • N/A
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 9,575
      SQFT
    • $783
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1957
    County:
    Area:

    Description

    LND Realty is pleased to present 2241 Virginia Ave in Santa Monica California. A 15 unit apartment complex (14 condo's) with 9 units currently vacant. The units were converted to condominiums via Santa Monicas Tenant Ownership Rights Charter Amendment (TORCA) in the 1980s, and as such, each unit has its own parcel number, however, the building is currently operated as an apartment building. A new investor may benefit from exploring a condo sales exit strategy. The property features controlled access, sun deck, pool, onsite laundry, and parking. No seismic retrofit is required as it has been satisfied per city requirements. The accuracy of all information, regardless of source, including but not limited to sq ft & lot sizes is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.

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    Based on information from the Combined LA/Westside Multiple Listing Service as of 2020-12-03T23:44:08.79. 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.
    www.trulinerealty.com/homes/111453022
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    2241 Virginia Ave Santa Monica, CA 90404

    • Price: $7,500,000
    • Status: Active
    • Updated: 71 min ago
    • ID#: 20-653122
    18
    Beds
    0
    Baths
    0
    ½ Baths
    N/A
    Acres
    9,575
    SQFT
    $783
    $/SQFT
    1957
    Built
    Neighborhood:
    Santa Monica
    County:
    Los Angeles
    Area:
    Santa Monica
    School District:
    Santa Monica-Malibu Unified School District
    Property Description
    LND Realty is pleased to present 2241 Virginia Ave in Santa Monica California. A 15 unit apartment complex (14 condo's) with 9 units currently vacant. The units were converted to condominiums via Santa Monicas Tenant Ownership Rights Charter Amendment (TORCA) in the 1980s, and as such, each unit has its own parcel number, however, the building is currently operated as an apartment building. A new investor may benefit from exploring a condo sales exit strategy. The property features controlled access, sun deck, pool, onsite laundry, and parking. No seismic retrofit is required as it has been satisfied per city requirements. The accuracy of all information, regardless of source, including but not limited to sq ft & lot sizes is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.
    Exterior Features

    Covered Parking 13 Entry Location Ground Level W/Steps Levels Two Lot Description Gated CommunityLawnLandscaped Lot Size Area 14688 Other Structures None Parking Garage AssignedBuilt-In StorageCovered Parking Paved YN Yes Pool Description Community Pool YN Yes Roof Shingle Tennis Court None Tennis YN No Total Parking 13 View Description Courtyard View YN Yes

    Interior Features

    Baths Total 18.50 Common Walls Attached Cooking Appliances Cooktop - Gas Cooling None Equipment Garbage DisposalDishwasherCeiling FanIntercomRefrigeratorRange/Oven Flooring HardwoodLaminateTile Heating Wall Gas Laundry Community Laundry Equipment Own Water Heater Features Gas

    Property Features

    Alley YN No Entry Floor Number 1 Gross Income 391649 Gross Operating Income 381899 Land Lease Type Full Like Units1 2 Like Units2 9 Like Units3 1 Like Units4 4 Net Operating Income 241135.00 Number Of Buildings 1 Number Of Units 15 Owner Pays GardenerPool ServiceWater Rent Control YN Yes Sale Type Standard Security Features GatedFire And Smoke Detection System Source Living Area Estimated Source Lot Size Area Assessor Tax Total 90000.00 Tenant Pays GasElectricity Total Annual Expense 140764 Type Of Units Apartments Water Meter On Property Water Heaters YN Yes Year Built Source Assessor Zoning R2

    Listing provided courtesy of Adam Kanizo DRE#02008361 of Lnd Realty.


    Based on information from the Combined LA/Westside Multiple Listing Service as of 2020-12-03T23:44:08.79. 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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    8644 Wilshire Blvd. Suite 204
    Beverly Hills CA, 90211