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Sold for $2,080,000 Sold

2329 Oak Street
Santa Monica, CA 90405

2 units | Multi Family Home
7022 sq ft - MLS# SB18163155
Property Photo

Sold

Sold for $2,080,000 on Oct 30, 2018

Description

Excellent opportunity to own 2 separate homes on one lot with individual yards and 5 garages in Sunset Park! R2 Zoned large lot with NO CURRENT RENT CONTROL!  This tree-lined neighborhood is just minutes to restaurants, retail & shopping. At the end of the street is Clover Park, with play areas, exercise stations, tennis courts and shade trees for picnics! Front home is a charming beach cottage with 3 bedrooms and 1 & 3/4 baths, fireplace, bay window, separate dining room and original hardwood flooring & lush landscaping. This home is approx 1450 Sq Ft. Total rent is based on this unit only. Rear owners unit with 2 bedrooms and 2.5 baths is an open concept with bamboo flooring, updated kitchen w/ granite countertops, dining, living, powder rooms, laundry area and direct access to the garage. Upstairs are two master bedrooms w ensuite baths, a spacious area at top of stairs makes a terrific library and/or workstation and an oversized deck for entertaining. This home is approx 1950 Sq Ft. Excellent value for either owner/user or developer/investor (check with City of SM for future build).  All square footage, future build opportunity, and current non-rent control to be confirmed by buyer.  Property is being sold "AS- IS."

Features

  • # of Parking Spaces: 5.00
  • Appliances: Built In Range, Dishwasher, Gas Range, Gas Stove, Refrigerator
  • Appliances YN: Yes
  • Area: C14 - Santa Monica
  • Average 2 Bed Area: 1950
  • Average 2 Bed Area Units: Square Feet
  • Average 3 Bed Area: 1450
  • Average 3 Bed Area Units: Square Feet
  • Average Studio Area Units: Square Feet
  • Building Area Total: 3400.00
  • Building Area Units: Square Feet
  • Cap Rate: 4.50
  • Community Features: Curbs, Sidewalks, Street Lighting
  • Construction Materials: Stucco
  • Country: US
  • Directions: Off 23rd and Ocean Park Units are 2329 and 2329 1/2 Oak Street
  • Electric Expense: 1200.00
  • Entry Location: ground
  • Exterior Features: Barbecue Private
  • Fence YN: Yes
  • Fencing: Wood
  • Fireplace: Family Room, Yes
  • Foundation Details: Slab
  • Fuel Expense: 650.00
  • Garage Income: 600.00
  • Garage Rental Rate: 200.00
  • Garage Spaces: 5.00
  • Gardener Expense: 1020.00
  • Gross Income: 19643.00
  • Gross Multiplier: 16.00
  • Gross Operating Income: 50400.00
  • Gross Scheduled Income: 50400.00
  • Heating: Wall Heater, Forced Air
  • Heating YN: Yes
  • Inclusions: Washer, dryer, owners unit refrigerator
  • Insurance Expense: 1457.00
  • Interior Features: Ceiling Fan, Granite Counters
  • Laundry Features: Area
  • Laundry YN: Yes
  • Listing Agent License: 01097063
  • Listing Office License: 01879720
  • Listing Status: Closed
  • Lot Features: Back Yard, Front Yard, Garden, Landscaped, Park Nearby, Yard
  • Lot Size: 0.1612
  • Lot Size Source: Assessor
  • Lot Size Units: Square Feet
  • Maintenance Expense: 5000.00
  • Maintenance Percent: 1.00
  • MLS: CRM
  • Net Operating Income: 19043.00
  • New Taxes Expense: 27500.00
  • Number Of Buildings: 2
  • Number Of Rented Garages: 3
  • Number Of Separate Electric Meters: 2
  • Number Of Separate Gas Meters: 2
  • Number Of Separate Water Meters: 1
  • Number Of Units Leased: 1
  • Number With Dishwasher: 1
  • Number With Disposal: 1
  • Number With Range: 2
  • Number With Refrigerator: 2
  • Operating Expense: 31357.00
  • Other Income Description: Pro forma Inc $132, 000
  • Parking Features: Direct Garage Access, Garage - Rear Entry, Garage - Single Door, On Site
  • Parking Spaces: 5.00
  • Parking YN: Yes
  • Property Type: Multi Family Home
  • Road Frontage Type: City Street
  • Road Surface Type: Paved
  • Roof: Composition
  • Room Type: Bonus Room, Dressing Area, Family Room, Kitchen, Living Room, Two Masters
  • Security Features: Fire and Smoke Detection System
  • Selling Agent: Jeffrey T. Sandorf
  • Selling Agent License: 01396545
  • Selling Office: The Agency
  • Selling Office License: 01302611
  • Sewer: Public Sewer
  • Sold Date: 2018-10-30 00:00:00
  • Sold Price: 2080000.00
  • Stories: Two
  • Stories Total: 2
  • Style: Bungalow,Cottage
  • Sub Type: Multi Family Home
  • Subdivision: Sunset Park
  • Subdivision/Neighborhood: Sunset Park
  • Total Actual Rent: 50400.00
  • Total Expenses: 31357.00
  • Units: 2
  • Utilities: Electricity Connected, Natural Gas Connected, Sewer Connected
  • Water Sewer Expense: 2400.00
  • Water Source: Public
  • Window Features: Bay Window, Drapes/Curtains, Screens
  • Year Built: 1938
  • Year Built Source: Assessor
  • Zip Code: 90405
  • Zoning: SMR2*

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agent photo
Terri Dunn |REMAX Estate Properties
Manhattan Beach, CA 90266
Phone: 310-710-9770
Email: terri@terridunn.com
DRE # 01097063

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