821 Maple St Pending Save Request In-Person Tour Request Virtual Tour
Santa Monica,CA 90405
Key Details
Property Type Multi-Family
Sub Type Multi-Family
Listing Status Pending
Purchase Type For Sale
Square Footage 3,904 sqft
Price per Sqft $536
MLS Listing ID 24-436183
Style Traditional
Bedrooms 8
Year Built 1950
Lot Size 6,471 Sqft
Property Description
Discover an excellent investment opportunity with this remarkable property, featuring six cash-flowing units with a solid 5.08% cap rate and a per-unit cost of under $350,000. Three of the six units have already been renovated to meet modern living standards, complete with in-unit washer/dryers, ensuring higher rental demand and tenant satisfaction. The other three units offer considerable upside potential, with an aggregate 40% increase in rent achievable for the property, providing an excellent opportunity for the new owner to boost returns.The smart layout offers two spacious upstairs units, each with two bedrooms and one bathroom, complemented by expansive balconies perfect for enjoying warm Santa Monica evenings. Meanwhile, the four downstairs units feature one-bedroom layouts, ideal for singles or couples, providing a versatile mix of living options. All units are currently leased, guaranteeing immediate cash flow, and the property includes six on-site surface parking spaces, a rare find in this area, adding both convenience and desirability.Located less than one mile from sun-kissed beaches, the world-famous Main Street, Rose Avenue, and Santa Monica College, this property offers residents an unparalleled coastal lifestyle in one of the most desirable neighborhoods in Santa Monica. The area is known for its vibrant community, trendy dining, boutique shopping, and cultural attractions, which consistently drive demand for quality rental housing. Additionally, this property is situated in a rapidly appreciating neighborhood, offering significant long-term upside potential for investors.In such a competitive market where multi-unit properties are scarce and tend to sell quickly, this is a golden opportunity to expand your portfolio or enter the market with a high-performing, cash-flowing asset in a fantastic location. With the potential for rent increases and property appreciation, coupled with possible tax benefits associated with owning investment real estate, this property represents a smart and strategic investment. Don't miss out on this chance to secure a valuable asset with considerable upside potential.
Location
State CA
County Los Angeles
Area Santa Monica
Zoning SMR2*
Rooms
Other Rooms None
Interior
Heating Wall
Cooling Ceiling Fan
Equipment None
Exterior
Garage Assigned
View Y/N Yes
View Other
Building
Lot Description Alley Paved, Fenced Yard
Story 2
Water District
Others
Special Listing Condition Standard