2nd Price Reduction! - 6 Units in Prime North Santa Monica near Montana Avenue. This is an extremely rare opportunity for an investor to purchase a multifamily property with 40% rent upside potential in this neighborhood. The property has a walk score of 91 out of 100 with proximity to a variety of dining, shopping and entertainment options along Montana Avenue and is also a short walk from the beach. The units consist of all 1 bedroom, 1 bath floor plans with a current average rent of $1,852 per month. 1 bedroom units in this immediate area are currently renting for $2,600. A new investor can capitalize on the tight rental market and high rents in this neighborhood by implementing a long-term strategic unit interior renovation plan, which will upgrade the units and allow the buyer to command top of the market rents. Front Building, built in 1924 has 4,224 square feet and Back Building, built in 1954 has 1,214 square feet (both per LA County Assessor).
BRENT ROBERTS Realtor | CA BRE# 01946139 | 619-762-4883
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