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    222-228 Idaho Avenue

    Santa Monica, CA 90403
    • $9,795,000
    • STATUS: Active
    • ON SITE: 42 days
    • ID#: SR20193834
    UPDATED: 64 min ago
    $9,795,000
    • 0
      BEDS
    • 0.34
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 15,640
      SQFT
    • $626
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1954
    County:

    School Ratings & Info

    Description

    The Idaho & 3rd Apartments are a well maintained 20-unit apartment community located in the primest of the prime locations in Santa Monica, California. Set amid lush surroundings on a 15,006 square foot lot, the 15,640 square foot property offers studios, one- and two-bedroom apartment homes. Built in 1954, the property offers, a phenomenal rental location and superb freeway access.* Prime 3rd Street Location* Two Blocks to the Santa Monica Cliffs & Palisades Park* 25% Upside in Rents* Reposition Opportunity (5 units delivered vacant)* Parking (16 Garage Parking Spaces, 8 Uncovered Parking Spaces)

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2020-10-29T20:32:10.87. 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 Keller Williams Realty. Licensed in the State of California, USA.

    www.therealestategirl.com/homes/110085958
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    222-228 Idaho Avenue Santa Monica, CA 90403

    • Price: $9,795,000
    • Status: Active
    • Updated: 64 min ago
    • ID#: SR20193834
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.34
    Acres
    15,640
    SQFT
    $626
    $/SQFT
    1954
    Built
    Neighborhood:
    C14 - Santa Monica
    County:
    Los Angeles
    Area:
    C14 - Santa Monica
    Property Description
    The Idaho & 3rd Apartments are a well maintained 20-unit apartment community located in the primest of the prime locations in Santa Monica, California. Set amid lush surroundings on a 15,006 square foot lot, the 15,640 square foot property offers studios, one- and two-bedroom apartment homes. Built in 1954, the property offers, a phenomenal rental location and superb freeway access.* Prime 3rd Street Location* Two Blocks to the Santa Monica Cliffs & Palisades Park* 25% Upside in Rents* Reposition Opportunity (5 units delivered vacant)* Parking (16 Garage Parking Spaces, 8 Uncovered Parking Spaces)
    Exterior Features

    Garage Spaces 16.00 Lot Features Corner LotLandscaped Lot Size Source Assessor Lot Size Units Square Feet Parking Features Assigned Parking Total 24.00 Parking YN Yes Pool Features None Pool Private YN No Property Attached YN Yes Uncovered Spaces 8.00

    Interior Features

    Average Studio Area Units Square Feet Average1 Bed Area Units Square Feet Average2 Bed Area Units Square Feet Average3 Bed Area Units Square Feet Common Walls 2+ Common Walls Laundry Features None Levels Two

    Property Features

    Additional Parcels YN No Association Fee 0.00 Association YN No Building Area Units Square Feet Cap Rate 3.09 Community Features BikingCurbsDog ParkHikingParkWatersportsMountainousSidewalksStorm DrainsStreet LightsUrban Country Us Electric Expense 2000.00 Elevation Units Feet Fuel Expense 2457.00 Gardener Expense 1800.00 Gross Income 531192.00 Gross Multiplier 18.44 Gross Scheduled Income 531192.00 Insurance Expense 7392.00 Land Lease YN No Laundry YN No Licenses Expense 2500.00 Maintenance Expense 23460.00 Net Operating Income 302763.00 New Construction YN No New Taxes Expense 122438.00 Number Of Separate Electric Meters 21 Number Of Separate Gas Meters 22 Number Of Separate Water Meters 1 Operating Expense 212494.00 Other Expense 2000.00 Other Expense Description Misc. Pest Control Expense 1200.00 Professional Management Expense 21248.00 Rent Control YN Yes Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Total Expenses 212494.00 Trash Expense 6000.00 Vacancy Allowance 15936 Water Sewer Expense 8000.00 Water Source Public Year Built Source Assessor Zoning Smr3*

    Listing provided courtesy of Warren Berzack of Lee & Associates


    Based on information from California Regional Multiple Listing Service, Inc. as of 2020-10-29T20:32:10.87. 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 Keller Williams Realty. Licensed in the State of California, USA.

     
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