Mohr Real Estate Group

Mohr Real Estate Group

2626 Cloverfield Boulevard Santa Monica CA 90405 MLS #24464145

2626 Cloverfield Boulevard
Santa Monica, CA, 90405
$4,995,000
Beds
0 Baths
SqFt
0.14 Acres
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$4,995,000
2626 Cloverfield Boulevard
Santa Monica, CA, 90405
MLS #24464145 img 0

Property Description


Huge 650k Price Reduction & Now 100% Occupied! 12 Unit building with 10 fully renovated units in Prime Santa Monica cash flowing at an incredible Current Cap Rate of 5.8% and 12.6 GRM from day 1! Priced at only 416k/door for renovated units with an amazing upside to 6.7% Cap Rate and 11.2 GRM on the proforma. Delivered with 10 fully renovated units with permits including 8 remodeled units plus 2 brand-new attached ADUs. These units have been completely renovated with permits (100% occupied) and boast a high-end aesthetic with new modern cabinets, flooring, recessed lighting, new bathrooms, stainless steel appliances, washer/dryer inside, as well as major exterior capital improvements. Notably, there are preliminary plans for 2 additional detached ADUs over the open parking lot in the back that offer exceptional future upside potential. The property is located in the heart of Santa Monica just minutes away from the Beach and within close proximity to Santa Monica Business Park as well as hip neighborhood attractions, restaurants, bars, and shops such as Layla Bagels, Local Kitchen & Wine Bar, Estate Coffee, and many more popping up all around the area.

Property Details

Price:
$4,995,000
MLS #:
24464145
Status:
Active
Baths:
0
Address:
2626 Cloverfield Boulevard
Type:
Residential Income
Neighborhood:
c14santamonica
City:
Santa Monica
Listed Date:
Nov 15, 2024
State:
CA
ZIP:
90405
Lot Size:
6,046 sqft / 0.14 acres (approx)
Year Built:
1966

Schools

Interior

Appliances
Refrigerator
Heating
Wall Furnace

Exterior

Parking Features
Uncovered
Parking Spots
9.00
Stories Total
2

Financial

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2626 Cloverfield Boulevard
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