Active

2306 3rd Street

Santa Monica CA, 90405

$4,950,000


$623.66 per sqft

Active

7,937 sqft

Multi-family

Built in 1924

Listed by Brett Lyon with Lyon Stahl Investment Real Estate, Inc. 3107801899

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.

SB24155287

MLS ID

July 29, 2024

Listed

December 5, 2024

Updated

Map

2306 3rd Street
Santa Monica CA, 90405

Interior Features

Total Stories

2


Laundry Description

Common Area


Fireplace

No


Fireplace Description

None


Cooling

No


Cooling Description

None


Heating

No


Heating Description

None

Exterior/Building Features

Lot Size

0.14 Acres


Lot Features

11-15 Units/Acre


Sewer

Public Sewer

Other Property Details

Area Name

C14 - Santa Monica


Days on Market

128


Garage

No


Parking Total

0


View

No


County

Los Angeles


Water Source

Public


Pool

No


Pool Features

None


Zoning

SMOP2*

Listing History

Date

Event

Price

10/21/2024

Price change

$4,950,000

-10%

Listing Contact: 310-425-9838 

Based on information from the California Regional Multiple Listing Service (CRMLS) as of 12/5/2024. 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 usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, the Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. Any offer of compensation is made only to participants of the MLS where the listing is filed.

©2024 California Regional Multiple Listing Service (CRMLS) all rights reserved.

Data last updated on 12/5/2024 at 5:01 AM UTC

 

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