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23485693
23473775

2302 32nd Street, Santa Monica, CA 90405

CBRE - West LA
Listed by CBRE - West LA
$2,075,000
66 days on market
Updated 66 days ago

2302 32nd Street

Details
APN 4270-007-044
Property Type Multifamily
Sub Type Apartment Building
Square Footage 3,492
Net Rentable (SqFt) 3,492
Units 5
Cap Rate 5.46%
NOI $113,264
Price per SqFt $594
Class C
Year Built 1938
Buildings 2
Stories 2
Lot Size (SqFt) 9,006
Zoning SMR2
Parking Spaces 7 spaces
Parking Per SqFt 2.00
Investment Type Value Add

Well Renovated 4+1 Unit Opportunity

Marketing description

The Boyett Team is thrilled to offer an exclusive opportunity to acquire 2302 32nd Street, a charming 4+1-unit opportunity located in the Sunset Park submarket of Santa Monica.

Built in 1938, this property has been meticulously maintained with modernized interiors and still possesses its vintage charm. 2302 32nd Street sits on a large ±9,000 Square Feet lot with a total of three structures. The front building contains Three Units, (1) Vacant Two Bedroom One Bathroom Unit and (2) One Bedroom One Bathroom units. The middle structure of the lot is Two Stories with (1) Large One Bedroom One Bathroom unit located upstairs, and downstairs is (1) non-conforming One Bedroom One Bathroom unit. The seller has plans and permits for the 5th unit that will allow an easy process of registering the non-conforming unit with the city. The property also provides a total of 7 parking spaces.

Conveniently located just south of Pico Boulevard and the I-10 Freeway, tenants of 2302 32nd Street have no shortage of things to do. From vibrant nightlife to an ample selection of fine dining, daily necessities, and retail amenities. Providing easy access to all that Santa Monica has to offer as well as seamless transit to the surrounding West Los Angeles area.

2302 32nd Street offers a unique opportunity to traditional or owner-occupied investors alike. The asset offers a cash-flowing stabilized investment alongside potential

Investment highlights

  • 9,000 + Square foot lot providing ADU Potential (Buyer to Verify)
  • (1) Two Bedroom One Bathroom Unit Delivered Vacant
  • $2,667 Average Monthly Rent
  • 4 Units Plus One Existing ADU

Listing Contacts

CBRE - West LA
Listed by CBRE - West LA

Valuation Calculator

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Loan Amount
$0.00
Annual Debt Service
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Annual Cash Flow
$113,264.00
$9,438.67/mo

Valuation Metrics

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DSCR
5.46%
Cap Rate
5.46%
ROI

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