Santa Monica - Beach Property For Sale #2728023

Large upside potential!!! Calling all owners-users, investors, or developers! This property offers huge upside potential with 30% increase in rents and tons of opportunity!!! Stunning triplex in the heart of Santa Monica (North of Wilshire) on a 7,509 sqft (SMR2) lot, with 3,245 of total living space. Just blocks away from world-class shops, restaurants, the beach, parks & award-winning schools. Front owners' unit is a vacant single-family home with 2 Bedrooms and 2 Bathrooms. Main house has lots of natural light, great floor plan, attached 1 car garage (can be used as an office, gym etc), Large driveway with space for 3 cars, private front yard, huge 400 sqft covered patio and lots of storage & closet space throughout. It would be fairly easy to open up the kitchen into the living room and dining area. Prefect owner-user opportunity in prime Santa Monica location. If owner occupies front unit they can apply for a rent control exemption & collect market rents on the two rear units. - Large spacious yard between the 2 structures. Second structure is pushed to the back of the property and has alley access. - Building is two stories and each unit is on its own floor. Units are 2 Bedrooms and 1 Bathroom, spacious open living room (upstairs unit has a fireplace), ideal floor plan, have in unit laundry and a one car garage. The possibilities are endless on this property. Great for a 1031 Exchange buyer, development, and may be possible to convert the 2 rear garage spaces into an ADU. The property will be sold *as-is* and sellers will not be making any repairs or giving any credits. Property subject to soft Story Retrofit in Feb 2024.