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    1527 9Th St

    Santa Monica, CA 90401
    • $6,890,000
    • STATUS: Active Under Contract
    • ON SITE: 149 days
    • ID#: 20-659778
    Under Contract
    UPDATED: 32 min ago
    $6,890,000
    • 18
      BEDS
    • 0.17
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 11,000
      SQFT
    • $626
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1990
    County:
    Area:

    School Ratings & Info

    Description

    Rare investment opportunity for 9 units apartment built in1990 in the heart of Santa Monica. As far as rent increase is concerned, it's not under City rent control and only new State law applies, which allows 5 % + CPI increase each year. Over the past several years, extensive renovation had been taken place throughout the building such as a new roof, new central water heater, new windows, new gate motor, and rear carport had been enclosed by a new gate and fence. Eight out of nine units had been upgraded and each unit has an inside washer/dryer, central a/c, and balcony or patio or both. The property is locating a stone's throw away from shops and restaurants. Close to beach and good FW access.

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    Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-04-13T15:42:56.563. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
    www.corrieluxuryhomes.com/homes/111886386
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    1527 9Th St Santa Monica, CA 90401

    • Price: $6,890,000
    • Status: Active Under Contract
    • Updated: 32 min ago
    • ID#: 20-659778
    18
    Beds
    0
    Baths
    0
    ½ Baths
    0.17
    Acres
    11,000
    SQFT
    $626
    $/SQFT
    1990
    Built
    Neighborhood:
    Santa Monica
    County:
    Los Angeles
    Area:
    Santa Monica
    Property Description
    Rare investment opportunity for 9 units apartment built in1990 in the heart of Santa Monica. As far as rent increase is concerned, it's not under City rent control and only new State law applies, which allows 5 % + CPI increase each year. Over the past several years, extensive renovation had been taken place throughout the building such as a new roof, new central water heater, new windows, new gate motor, and rear carport had been enclosed by a new gate and fence. Eight out of nine units had been upgraded and each unit has an inside washer/dryer, central a/c, and balcony or patio or both. The property is locating a stone's throw away from shops and restaurants. Close to beach and good FW access.
    Exterior Features

    Covered Parking 16 Entry Location Living Room Exterior Construction StuccoWood Siding Lot Description Fenced Lot Location Alley Access Lot Size Area 7506 Other Structures None Parking Garage AssignedAttachedCovered ParkingGatedGated Underground Patio Features BalconyLiving Room BalconyRoof Top Deck Pool Description None Pool YN No Roof CompositionFlat Spa None Spa YN No Style Contemporary Tennis Court None Tennis YN No Total Parking 16 View Description CityCity LightsMountains View YN Yes

    Interior Features

    Bathroom Features TileShower Over Tub Baths Total 20.00 Cooking Appliances GasOvenOven-GasRange Cooling CentralAir Conditioning Equipment Ceiling FanDishwasherDryerElevatorGarbage DisposalIntercomWasherRefrigeratorRange/OvenPhone SystemCable Fireplace Rooms Living RoomGas Flooring LaminateTileVinyl Heating CentralHeat Pump Interior Features ElevatorIntercomLiving Room Balcony Kitchen Features Granite Counters Laundry In UnitInside Laundry Equipment Own Water Heater Features Central Water Heater Windows Double Pane WindowsVertical BlindsWindow Blinds

    Property Features

    Assessed Total Value 4112589 Gross Income 413268 Gross Operating Income 405003 Land Lease Type Fee Like Units1 2 Like Units2 5 Like Units3 1 Like Units4 1 Net Operating Income 276741.00 Number Of Buildings 1 Number Of Units 9 Owner Pays WaterGardener Property Condition Updated/Remodeled Sale Type Standard Security Features Carbon Monoxide Detector(S)Smoke DetectorGated Sewer In Street Source Living Area Vendor Enhanced Source Lot Size Area Vendor Enhanced Tenant Pays GasElectricityCable Tv Total Annual Expense 128262 Type Of Units Apartment Water District Year Built Source Vendor Enhanced Zoning Smr3*

    Listing provided courtesy of Toshiro Ohinata DRE#01075788 of Ws Realtors Inc..


    Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-04-13T15:42:56.563. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
     
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