$3,300,000
$3,800,000
13.2%For more information regarding the value of a property, please contact us for a free consultation.
6,486 Sqft Lot
SOLD DATE : 05/09/2024
Key Details
Sold Price $3,300,000
Property Type Condo
Sub Type Apartment
Listing Status Sold
Purchase Type For Sale
MLS Listing ID AR23176881
Sold Date 05/09/24
Construction Status Updated/Remodeled
HOA Y/N No
Year Built 1962
Lot Size 6,486 Sqft
Property Description
Priced at high 4.47% CAP Rate for this location, 2615 S 2nd St, a prime apartment complex boasting 7 units situated just 2 blocks from the water. The property is in the Ocean Park area, just a block from Main Street. Only 2 blocks from the beach, this property has an almost perfect walk score of 98 and bike score of 86. It is located in an excellent demographics area of ±$131,779 average household income within a mile radius. The property has been upgraded extensively and its soft-story parking has been seismically retrofitted. It has copper plumbing throughout, updated sewer line, updated electrical, and double pane windows throughout. In addition, the property has security camera systems installed. Almost turnkey condition where major systems have been upgraded and 6 out 7 units have been completely upgraded.
The property is an attractive 2-story modern, mid-century apartment that was built in 1962. It offers an excellent curb appeal and has a total of ±4,696 square feet building size; it is situated on a ±6,487 square feet lot.
The property offers six (6) 1bedroom+1bathroom and one (1) large 2bedroom+2bathroom units. All units (except #1) have been completely upgraded with modern upgrades which include recessed lighting, new flooring throughout, in-unit washer/dryer, new kitchen with quartz countertops + new kitchen cabinets + dishwasher, new bathroom with new vanity cabinets, and mirrored closet doors. The 2 bedroom unit is large and bright with desirable layout and has been fully upgraded.
There are 7 assigned parking spaces (5 carports + 2 open). The parking soft-story area has been seismically retrofitted according to code. Each unit is separately metered for electricity and gas.
Located in the southwest corner of Santa Monica is the Ocean Park neighborhood. The Ocean Park neighborhood is unique in the sense that it has one of the highest proportions of one, two, or no (studio) bedroom real estate of any neighborhood in America. This means it has a higher proportion of its residents employed as executives, managers and professionals – in comparison to the 98.4% of the neighborhoods in America. Many Santa Monica residents come to shop/browse on Main Street, home of many boutiques, restaurants, as well as a local farmer’s market every Sunday. SMASH (an alternative school), Olympic High and John Muir elementary are schools located in the neighborhood.
Location
State CA
County Los Angeles
Area C14 - Santa Monica
Zoning SMOP2*
Interior
Heating Wall Furnace
Cooling Wall/Window Unit(s)
Flooring Carpet, Vinyl, Wood
Fireplaces Type None
Fireplace No
Appliance Dishwasher, Gas Range, Dryer, Washer
Laundry Inside, None
Exterior
Parking Features Assigned, Carport
Carport Spaces 5
Pool None
Community Features Urban
Utilities Available Cable Connected, Electricity Connected, Natural Gas Connected, Phone Available, Sewer Connected, Water Connected
Roof Type Flat
Total Parking Spaces 7
Private Pool No
Building
Lot Description Level, Near Public Transit, Rectangular Lot, Street Level
Faces Southwest
Story 2
Entry Level Two
Sewer Public Sewer
Water Public
Architectural Style Mid-Century Modern
Level or Stories Two
New Construction No
Construction Status Updated/Remodeled
Others
Senior Community No
Tax ID 4287010033
Security Features Security System,Carbon Monoxide Detector(s),Smoke Detector(s),Security Lights
Energy Description 1948.0
Acceptable Financing Cash, Cash to New Loan
Listing Terms Cash, Cash to New Loan
Financing Cash
Special Listing Condition Standard
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Bought with Tatsuya Nakanishi • Person Realty Inc.