1220 24th Street, Santa Monica

4 Unit Apartment Building | 2,847 SF Building on 5,295 SF Lot

Current CAP 4.43% and Pro Forma CAP 5.77% | Current GRM 15.55 and Pro Forma GRM 12.80

Offered at $2,150,000

BUILDING INFO

*Charming 4-unit Bungalow-style building close to everything!
*Bonus Income from 4 garage units leased out at $195/month/each to storage tenants
*Within a block of Trader Joe’s, Whole Foods & Douglas Park
*Great school district – one block from McKinley Elementary School (Check with City)
*Ideal unit mix – (2) 2br+1ba Bungalows and (2) 1br+1ba units
*Good rental upside

Fantastic Investment at 4.4% CAP 15.5 GRM or Owner-User opportunity!! Whether you’re looking for an investment or owner-user property, you will not find a better opportunity in Santa Monica. The front 2 bedroom home of this charming bungalow-style retreat is being delivered vacant. Located just south of Wilshire Blvd, and within a couple blocks of Chelsea Park, Whole Foods, Trader Joes, great restaurants and coffee houses in one of the most sought-after rental markets in Southern California that just keeps on improving. One of the highest CAP and lowest GRM you will find in the area for a 4-plex! First Time on the Market in 40+ Years!

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