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    500 California Ave

    Santa Monica, CA 90403
    • $12,000,000
    • STATUS: Active
    • ON SITE: 69 days
    • ID#: 20-636306
    $12,000,000
    • 35
      BEDS
    • 0.34
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 17,213
      SQFT
    • $697
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1953
    County:
    Area:

    School Ratings & Info

    Description

    500 California is a 23-unit legacy apartment building located in prime Santa Monica, just four blocks to iconic Ocean Avenue and Palisades Park. Offering an investor a rare opportunity to purchase irreplaceable real estate, this is the first time this property has been on the market in over 20 years. The property is walking distance to all of the shops, restaurants, and entertainment that downtown Santa Monica has to offer, including: the Third Street Promenade, trendy Montana Avenue, renowned Ocean Avenue, and the iconic Santa Monica Pier. Offering tremendous proximity to employment, Santa Monica is a thriving technology, media and entertainment hub, and an integral part of Silicon Beach. The property has a desirable unit mix of ten 1+1; twelve 2+1; and one single units. The two-story garden-style community has been well-maintained and offers an investor significant rental upside with a 4.7% cap at mkt. RENTS SHOWN ARE AVERAGES - Rent Roll available on website (see Pvt Remarks).

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    Based on information from the Combined LA/Westside Multiple Listing Service as of 2020-11-30T23:42:32.843. 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/110286713
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    500 California Ave Santa Monica, CA 90403

    • Price: $12,000,000
    • Status: Active
    • ID#: 20-636306
    35
    Beds
    0
    Baths
    0
    ½ Baths
    0.34
    Acres
    17,213
    SQFT
    $697
    $/SQFT
    1953
    Built
    Neighborhood:
    Santa Monica
    County:
    Los Angeles
    Area:
    Santa Monica
    Property Description
    500 California is a 23-unit legacy apartment building located in prime Santa Monica, just four blocks to iconic Ocean Avenue and Palisades Park. Offering an investor a rare opportunity to purchase irreplaceable real estate, this is the first time this property has been on the market in over 20 years. The property is walking distance to all of the shops, restaurants, and entertainment that downtown Santa Monica has to offer, including: the Third Street Promenade, trendy Montana Avenue, renowned Ocean Avenue, and the iconic Santa Monica Pier. Offering tremendous proximity to employment, Santa Monica is a thriving technology, media and entertainment hub, and an integral part of Silicon Beach. The property has a desirable unit mix of ten 1+1; twelve 2+1; and one single units. The two-story garden-style community has been well-maintained and offers an investor significant rental upside with a 4.7% cap at mkt. RENTS SHOWN ARE AVERAGES - Rent Roll available on website (see Pvt Remarks).
    Exterior Features

    Lot Size Area 15007 Other Structures None Parking Garage Side By Side Total Parking 12

    Interior Features

    Baths Total 23.00 Cooling None Equipment Range/Oven Heating Other

    Property Features

    Assessed Total Value 2050654 Gross Income 622793 Gross Operating Income 598034 Like Units1 10 Like Units2 12 Like Units3 1 Net Operating Income 379354.00 Number Of Buildings 1 Number Of Units 23 Sale Type Standard Source Living Area Vendor Enhanced Source Lot Size Area Vendor Enhanced Total Annual Expense 218680 Type Of Units income Year Built Source Vendor Enhanced Zoning Smr2*

    Listing provided courtesy of Adrienne Barr DRE#01308753 of Berkadia.


    Based on information from the Combined LA/Westside Multiple Listing Service as of 2020-11-30T23:42:32.843. 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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    TruLine Realty
    8644 Wilshire Blvd. Suite 204
    Beverly Hills CA, 90211