Amazing value for one of the BEST INVESTMENT OPPORTUNITIES in Santa Monica! Currently at a 4% cap rate return on current rents, there is also SIGNIFICANT UPSIDE POTENTIAL. Perfectly situated a few blocks from the beach & just off Main Street in Santa Monica. A serene courtyard community w/ 4 charming beach bungalows in outstanding condition. The lushly landscaped courtyard contains four detached single story bungalow style homes that have been restored & upgraded to retain their charm. One of the best opportunities in the neighborhood in comparison to recent comps selling far below a 4% cap rate. This represents a rare chance to acquire a value add investment w/ a stabilized, on-market cap rate in the mid to high 5% range. Possible upcoming vacancy will give upside potential on rents plus ability to owner/occupy or the chance to re-model & command premium rents! Located on an expansive 10,000 sq.ft. lot!
This property is off market, which means it's not currently listed for sale or rent on Zillow. This may be different from what's available on other websites or public sources.
