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    1850 11th Street

    Santa Monica, CA 90404
    • $4,598,000
    • STATUS: Active
    • ON SITE: 79 days
    • ID#: OC21137859
    UPDATED: 42 min ago
    $4,598,000
    • 0
      BEDS
    • 0.17
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1964
    County:

    School Ratings & Info

    Description

    1850 11th Street is a stunning, newly redeveloped 6-unit garden-style, boutique apartment building, where residents Live, Work and Play in this Iconic, Santa Monica retreat.The striking, soft-contemporary apartments incorporate tranquil seaside elements & organic materials with airy sunlit open spaces, each opening to private garden spaces blocks to the sand.At the epicenter of Silicon Beach, the Beach Community of Santa Monica is home to world-class technology, media, and entertainment companies such as Google, Facebook, Hulu, Electronic Arts, among many others, providing a steady source of high-income professional renters.There is an exceptional 10-year fixed loan with a 10-year float that provides the in-place leverage to bump the investment returns on these custom Santa Monica Apartment Residences. The opportunity features strong & stable in-place income plus meaningful rental upside in one of LA's best rental markets.100% Occupied, with a waiting list of 14 prospective Tenants.Ocean Breezes, gorgeous Tree-Lined Residential Street, a Secluded Entry Courtyard, all, with the tranquil Gardens that your Tenants crave. Stunningly Re-Designed & Upgraded Beach-Apartment meets Prime Santa Monica. The units feature High-End finishes, Custom, Architectural Kitchens with Euro Cabinetry, Gleaming New Quartz Waterfall-Edge Counters, wide Plank Floors, a full suite of Stainless Appliances, Sunlit Dining Areas, & Spa-Like Baths. Tenants enjoy their Own, In-Unit, Washers and Dryers, Ample Closet Spaces, Fully Enclosed, Patio's or Sundecks, all within fully Gated and Enclosed Gardens with Barbecue and Entertaining areas. Ample parking for 11 cars.Your Tenants will enjoy California Living at its Finest. Living Seconds to open air restaurants, shops, & breath-taking Santa Monica Beaches. We expect this rare, Newly Redeveloped Apartment to be received exceptionally well. This one will not last long! Call today to schedule your viewing.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2021-09-19T19:26:05.713. 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 RE/MAX Freedom. Licensed in the State of California, USA.
    www.homesinthehighdesert.com/homes/118920125
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    1850 11th Street Santa Monica, CA 90404

    • Price: $4,598,000
    • Status: Active
    • Updated: 42 min ago
    • ID#: OC21137859
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.17
    Acres
    1964
    Built
    Neighborhood:
    C14 - Santa Monica
    County:
    Los Angeles
    Area:
    C14 - Santa Monica
    Property Description
    1850 11th Street is a stunning, newly redeveloped 6-unit garden-style, boutique apartment building, where residents Live, Work and Play in this Iconic, Santa Monica retreat.The striking, soft-contemporary apartments incorporate tranquil seaside elements & organic materials with airy sunlit open spaces, each opening to private garden spaces blocks to the sand.At the epicenter of Silicon Beach, the Beach Community of Santa Monica is home to world-class technology, media, and entertainment companies such as Google, Facebook, Hulu, Electronic Arts, among many others, providing a steady source of high-income professional renters.There is an exceptional 10-year fixed loan with a 10-year float that provides the in-place leverage to bump the investment returns on these custom Santa Monica Apartment Residences. The opportunity features strong & stable in-place income plus meaningful rental upside in one of LA's best rental markets.100% Occupied, with a waiting list of 14 prospective Tenants.Ocean Breezes, gorgeous Tree-Lined Residential Street, a Secluded Entry Courtyard, all, with the tranquil Gardens that your Tenants crave. Stunningly Re-Designed & Upgraded Beach-Apartment meets Prime Santa Monica. The units feature High-End finishes, Custom, Architectural Kitchens with Euro Cabinetry, Gleaming New Quartz Waterfall-Edge Counters, wide Plank Floors, a full suite of Stainless Appliances, Sunlit Dining Areas, & Spa-Like Baths. Tenants enjoy their Own, In-Unit, Washers and Dryers, Ample Closet Spaces, Fully Enclosed, Patio's or Sundecks, all within fully Gated and Enclosed Gardens with Barbecue and Entertaining areas. Ample parking for 11 cars.Your Tenants will enjoy California Living at its Finest. Living Seconds to open air restaurants, shops, & breath-taking Santa Monica Beaches. We expect this rare, Newly Redeveloped Apartment to be received exceptionally well. This one will not last long! Call today to schedule your viewing.
    Exterior Features

    Architectural Style ContemporaryMid-Century ModernOther Construction Materials DrywallStucco Entry Level 1 Entry Location 1 Exterior Features Lighting Fencing BlockWood Foundation Details Raised Lot Features Front YardGardenSprinklers In FrontNear ParkSprinklers On SideSprinkler SystemTreesWalkstreetYard Number Of Separate Electric Meters 7 Open Parking Spaces 8 Parking Features Assigned Parking Total 9 Pool Features None Pool Private YN No Property Attached YN Yes Road Frontage Type AlleyCity Street Road Surface Type MaintainedPaved Roof Flat Spa Features None Spa YN No View CourtyardPark/GreenbeltNeighborhoodTrees/Woods View YN Yes

    Interior Features

    Accessibility Features None Appliances DishwasherElectric RangeGas OvenGas RangeRefrigeratorRange HoodDryerWasher Common Walls 1 Common WallNo One Below Cooling Central AirSee RemarksWall/Window Unit(S) Cooling YN Yes Door Features Sliding Doors Fireplace Features None Fireplace YN No Flooring Laminate Heating Wall Furnace Heating YN Yes Interior Features Ceiling Fan(S)Living Room Deck AttachedOpen FloorplanStone CountersRecessed LightingStorageUnfurnishedAll Bedrooms DownBedroom On Main LevelMain Level Master Window Features BlindsCustom Covering(S)Screens

    Property Features

    Additional Parcels YN No Association Fee 0 Association YN No Cap Rate 4.01 Common Interest Community Apartment Community Features BikingCurbsDog ParkFoothillsGolfHikingPreserve/Public LandStreet LightsSuburbanSidewalksWater SportsPark Current Financing Conventional Disclosures Rent Control Electric Electricity - On Property Electric Expense 211 Exclusions Tenant's Personal Property Fuel Expense 591 Garage YN Yes Gross Income 0 Gross Scheduled Income 258264 Inclusions WasherDryerStainless RefrigeratorFurniture-Finish DishwasherStainless Gas Range/Oven & Professional Stainless Farmhouse Sink! Common Area Electricity And Gas For Common Water Heater Included.Wall A/C Units Insurance Expense 3089 Land Lease YN No Levels Two Listing Agreement Exclusive Right To Sell Listing Service Full Service Listing Terms Cash To Existing Loan Maintenance Expense 2281 Net Operating Income 184452 New Construction YN No Number Of Separate Gas Meters 7 Number Of Separate Water Meters 1 Number Of Units Leased 6 Operating Expense 73702 Possession See Remarks Property Condition Turnkey Property Sub Type Apartment Rent Control YN Yes Security Features Security Lights Senior Community YN No Sewer Sewer Tap Paid Special Listing Conditions Standard Tenant Pays Cable TvElectricityGasSee Remarks Total Actual Rent 258264 Trash Expense 1220 Utilities Cable AvailableElectricity AvailableNatural Gas AvailableSewer ConnectedWater Connected Water Sewer Expense 452 Water Source Public Zoning Smr2*

    Listing provided courtesy of Julie Boyd of Home Buyers Realty


    Based on information from California Regional Multiple Listing Service, Inc. as of 2021-09-19T19:26:05.713. 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 RE/MAX Freedom. Licensed in the State of California, USA.
     
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