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1045 Ocean Avenue

Santa Monica, CA 90403
  • $15,800,000
  • STATUS: Active Under Contract
  • ON SITE: 95 Days
  • MLS #: AR21228529
Under Contract
UPDATED: 15 min ago
$15,800,000
  • 0
    BEDS
  • 0.26
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
Built:
1922
County:

School Ratings & Info

Listing Agent(s): Handoko Chen of Gig Real Estate Inc. (626-594-4901)


Description

1045 Ocean Ave, Santa Monica. Steps from the beach in Santa Monica and walking distance to some of the best amenities in Santa Monica (world-famous Santa Monica Beach, Santa Monica Pier, Santa Monica Third Street Promenade, etc.), 1045 Ocean Avenue offers investor a once-in-a-lifetime opportunity to own an apartment asset in a truly irreplaceable location that could be considered as one of the best location in Southern California. 1045 Ocean Ave is a 20-unit (assessor shows 21 units) apartment in Downtown Santa Monica. It is located on Ocean Ave between California Ave and Washington Ave. It is located a block away from Third Street Promenade on Wilshire Blvd, across the street from Palisades Park that offers unobstructed ocean view of Pacific Ocean, Santa Monica Beach, Santa Monica Pier and Southern California coastline. It is within walking distance to all the best amenities Santa Monica has to offer, including Metrolink light-rail station on Colorado Ave. It has a strong demographics of $143,000 average household income within a 3-mile radius and has superb access to FWY 10 and CA-1N (Pacific Coast Highway) is a street away. The property is a 2-1/2 story apartment that was built in 1922. It has a total of 15,005 square feet building size (per profile) and situated on a 11,260 square feet R3 lot. It is surrounded by much higher density residential properties on its left and right. Unit mix consists of four (4) 2bedroom+1bathroom, eight (8) 1bedroom+1bathroom, eight (8) studio, and one (1) penthouse-1bedroom+1bathroom. The property is master metered for electricity, gas and water. It is under Santa Monica Rent Stabilization Ordinance (rent control). It has a shared laundry room. Several units have been upgraded and NINE (9) units are vacant and will be delivered vacant at close of escrow. Parking is provided by 6 garage parking in the back (alley access).

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Based on information from California Regional Multiple Listing Service, Inc. as of 2022-01-18T07:28:14.42. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or ERA CARLILE Realty Group. Licensed in the State of California, USA.
www.carlilerealty.com/homes/122393734
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1045 Ocean Avenue Santa Monica, CA 90403

  • Price: $15,800,000
  • Status: Active Under Contract
  • On Site: 95 Days
  • Updated: 15 min ago
  • MLS #: AR21228529
0
Beds
0
Baths
0
½ Baths
0.26
Acres
1922
Built
Neighborhood:
C14 - Santa Monica
County:
Los Angeles
Area:
C14 - Santa Monica
Property Description
1045 Ocean Ave, Santa Monica. Steps from the beach in Santa Monica and walking distance to some of the best amenities in Santa Monica (world-famous Santa Monica Beach, Santa Monica Pier, Santa Monica Third Street Promenade, etc.), 1045 Ocean Avenue offers investor a once-in-a-lifetime opportunity to own an apartment asset in a truly irreplaceable location that could be considered as one of the best location in Southern California. 1045 Ocean Ave is a 20-unit (assessor shows 21 units) apartment in Downtown Santa Monica. It is located on Ocean Ave between California Ave and Washington Ave. It is located a block away from Third Street Promenade on Wilshire Blvd, across the street from Palisades Park that offers unobstructed ocean view of Pacific Ocean, Santa Monica Beach, Santa Monica Pier and Southern California coastline. It is within walking distance to all the best amenities Santa Monica has to offer, including Metrolink light-rail station on Colorado Ave. It has a strong demographics of $143,000 average household income within a 3-mile radius and has superb access to FWY 10 and CA-1N (Pacific Coast Highway) is a street away. The property is a 2-1/2 story apartment that was built in 1922. It has a total of 15,005 square feet building size (per profile) and situated on a 11,260 square feet R3 lot. It is surrounded by much higher density residential properties on its left and right. Unit mix consists of four (4) 2bedroom+1bathroom, eight (8) 1bedroom+1bathroom, eight (8) studio, and one (1) penthouse-1bedroom+1bathroom. The property is master metered for electricity, gas and water. It is under Santa Monica Rent Stabilization Ordinance (rent control). It has a shared laundry room. Several units have been upgraded and NINE (9) units are vacant and will be delivered vacant at close of escrow. Parking is provided by 6 garage parking in the back (alley access).
Exterior Features

Carport Spaces 0 Lot Features LevelNear Public TransitRectangular LotStreet LevelValue In Land Number Of Separate Electric Meters 1 Open Parking Spaces 0 Parking Features Assigned Parking Total 6 Pool Features None Pool Private YN No Property Attached YN Yes View OceanWater View YN Yes

Interior Features

Common Walls 2+ Common Walls Cooling Wall/Window Unit(S) Cooling YN Yes Fireplace Features None Fireplace YN No Heating Wall Furnace Heating YN Yes

Property Features

Additional Parcels YN No Association Fee 0 Association YN No Common Interest Community Apartment Community Features Urban Contingency Do Not Disturb Tenants! Drive By Only! No Showing! Walkthrough & inspection Only With An Accepted Offer. Send An Email To Han.Chen@Growthinvestmentgroup.Com For Full Setup. Send Your Offer To Han.Chen@Growthinvestmentgroup.Com Along With Buyer's Proof Of Funds. Seller Will Consider A Jv Offer. Electric Standard Electric Expense 6695 Fuel Expense 2455 Garage YN Yes Gross Income 0 Gross Scheduled Income 0 Insurance Expense 5609 Land Lease YN No Laundry Features Common Area Levels Three Or More Listing Agreement Exclusive Right To Sell Listing Service Full Service Listing Terms CashCash To New Loan Net Operating Income 0 New Construction YN No Number Of Separate Gas Meters 1 Number Of Separate Water Meters 1 Number Of Units Leased 11 Operating Expense 0 Possession Close Of Escrow Property Sub Type Apartment Rent Control YN Yes Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Tenant Pays See Remarks Trash Expense 3301 Utilities Electricity ConnectedNatural Gas ConnectedPhone AvailableSewer ConnectedWater Connected Water Sewer Expense 5041 Water Source Public Zoning Smr3*



Based on information from California Regional Multiple Listing Service, Inc. as of 2022-01-18T07:28:14.42. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or ERA CARLILE Realty Group. Licensed in the State of California, USA.
 
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ERA CARLILE Realty Group
1860 Howe Avenue, Suite 100
Sacramento CA, 95825
Listing Agent(s): Handoko Chen of Gig Real Estate Inc. (626-594-4901)