2306 3rd Street
Santa Monica, CA 90405
- – beds
- – baths
- – sqft
- 6,219 sqft lot
- 1924 build
- – on site
Situated in the picturesque Ocean Park neighborhood of Santa Monica, 2306 3rd Street stands as a rare gem for investors seeking a prestigious addition to their portfolio. Sitting on a double lot, this legacy 12-unit property features an eclectic mix of residential options, including (1) 4-unit building, (1) duplex, (1) single-family residence with an attached studio, and (4) detached bungalows. With a unit mix of (3) 2-bed/1-bath, (8) 1-bed/1-bath, and (1) studio, the property offers a total of 7,937 square feet of rentable space on a generous 12,703 square foot lot. Boasting a 4.25% CAP rate and a market CAP rate of 6.35%, the investment potential is substantial. Residents enjoy the perfect blend of comfort and convenience, enhanced by the property's prime location. Positioned just blocks from the beach and within walking distance of top-tier retail and restaurants, 2306 3rd Street benefits from its enviable location between Venice Beach and Downtown Santa Monica. Whether you're seeking steady returns or aiming to capitalize on the area's dynamic growth, this property represents a compelling opportunity in coveted location.
Listed By CRMLS_CA / Brett Lyon / Lyon Stahl Investment Real Estate, Inc. / 3107801899
Last checked:
Checking…
•
Last updated Oct 22, 2024
•
As a licensed real estate brokerage, Estately has access to the same database professional Realtors use: the Multiple Listing Service (or MLS). That means we can display all the properties listed by other member brokerages of the local Association of Realtors—unless the seller has requested that the listing not be published or marketed online.
The MLS is widely considered to be the most authoritative, up-to-date, accurate, and complete source of real estate for-sale in the USA.
Estately updates this data as quickly as possible and shares as much information with our users as allowed by local rules. Estately can also email you updates when new homes come on the market that match your search, change price, or go under contract.
MLS# SB24155287 —
The Building
-
Year Built:1924
-
Year Built Source:Assessor
-
New Construction:No
-
Entry Level:1
-
Common Walls:2+ Common Walls
-
Building Area Total:7937.00
-
Building Area Units:Square Feet
-
# of Buildings:7
-
Total Number Of Units:12
-
Stories Total:2
-
# of Separate Gas Meters:12
-
# of Separate Water Meters:1
-
# of Separate Electric Meters:12
Interior
-
Entry Location:1
-
Fireplace:No
-
Fireplace:None
-
Laundry:Common Area
-
Laundry:1
Location
-
Directions:Double Lot on the corner of 3rd Street and the Strand
-
Latitude:34.00567800
-
Longitude:-118.48519100
The Property
-
Property Type:Residential Income
-
Subtype:Commercial/Residential
-
Zoning:SMOP2*
-
Lot Features:11-15 Units/Acre
-
Lot Size Area:6219.0000
-
Lot Size Acres:0.1428
-
Lot Size SqFt:6219.00
-
Lot Size Source:Assessor
-
Property Attached:1
-
Additional Parcels:No
-
Land Lease:No
Listing Agent
- Contact info:
- No listing contact info available
Taxes
-
Tax Census Tract:7020.02
-
Tax Tract:4
-
Tax Lot:4
The Listing
-
Special Listing Conditions:Standard
-
Parcel Number:4289015012
-
Showings Begin:2024-07-29
Heating & Cooling
-
Heating:None
-
Cooling:No
-
Cooling:None
Utilities
-
Sewer:Public Sewer
-
Water Source:Public
The Community
-
Senior Community:No
-
Features:Biking
-
Pool:None
-
Private Pool:No
-
Assessments:No
-
Assessments:None
Walk Score®
Provided by WalkScore® Inc.
Walk Score is the most well-known measure of walkability for any address. It is based on the distance to a variety of nearby services and pedestrian friendliness. Walk Scores range from 0 (Car-Dependent) to 100 (Walker’s Paradise).
Bike Score®
Provided by WalkScore® Inc.
Bike Score evaluates a location's bikeability. It is calculated by measuring bike infrastructure, hills, destinations and road connectivity, and the number of bike commuters. Bike Scores range from 0 (Somewhat Bikeable) to 100 (Biker’s Paradise).
Transit Score®
Provided by WalkScore® Inc.
Transit Score measures a location's access to public transit. It is based on nearby transit routes frequency, type of route (bus, rail, etc.), and distance to the nearest stop on the route. Transit Scores range from 0 (Minimal Transit) to 100 (Rider’s Paradise).
Soundscore™
Provided by HowLoud
Soundscore is an overall score that accounts for traffic, airport activity, and local sources. A Soundscore rating is a number between 50 (very loud) and 100 (very quiet).
Max Internet Speed
Provided by BroadbandNow®
This is the maximum advertised internet speed available for this home. Under 10 Mbps is in the slower range, and anything above 30 Mbps is considered fast. For heavier internet users, some plans allow for more than 100 Mbps.
Sale history
Date | Event | Source | Price | % Change |
---|---|---|---|---|
10/21/24
Oct 21, 2024
|
Price Changed | CRMLS_CA | $4,950,000 | -10.0% |
7/29/24
Jul 29, 2024
|
Listed / Active | CRMLS_CA | $5,500,000 |