2408 5th Street

Santa Monica, CA 90405

$2,100,000
Last Sold Price
8
Beds
6
Baths
3,996 Sq. Ft.
$526 / Sq. Ft.
3,996
Sq. Ft.
$526
per Sq. Ft.

Description

The most desirable unit will now be delivered vacant. Perfect opportunity for an owner-user. Welcome to 2408 5th Street, a captivating four-unit multi-family property nestled in the heart of the vibrant Ocean Park neighborhood of Santa Monica. This exceptional offering presents a rare opportunity to embrace the quintessential beach lifestyle while enjoying the benefits of a smart investment. Spanning an impressive 3,996 square feet, this property is comprised of a pair of two-level 2 bed/1.5 bath...The most desirable unit will now be delivered vacant. Perfect opportunity for an owner-user. Welcome to 2408 5th Street, a captivating four-unit multi-family property nestled in the heart of the vibrant Ocean Park neighborhood of Santa Monica. This exceptional offering presents a rare opportunity to embrace the quintessential beach lifestyle while enjoying the benefits of a smart investment. Spanning an impressive 3,996 square feet, this property is comprised of a pair of two-level 2 bed/1.5 bath units and two one-level 2 bed/1 bath units, each featuring inviting living spaces that promise comfort and functionality. The freshly updated exterior adds to the allure of this residence, ensuring it stands out as a beacon of modern living in a sought-after locale. Investors will find significant value in the upside potential for rents, alongside the exciting possibility of adding an Accessory Dwelling Unit (ADU) to maximize living space or rental income. With five dedicated parking spaces, residents and guests alike will appreciate the convenience and ease of access this property provides. Situated just one block from Hotchkiss Park, four blocks from Main Street and a leisurely stroll to the sand, residents can indulge in local attractions or enjoy the serene beauty of nearby beaches. The Ocean Park neighborhood is not only celebrated for its scenic vistas but also for its vibrant community and rich cultural offerings. Whether you're looking to expand your real estate portfolio or seeking a multi-family residence that epitomizes coastal living at its finest, 2408 5th Street awaits your discovery.
  1. Listed by Corey Nelson • DRE #01462372 • Brokerage DRE #01834648 • Robust Real Estate

Property Details for 2408 5th Street

Zoning
SMOP2*
Style
Mid-Century
Parcel Number
4287007020
Total Units
4.0
Living Area
3996
Source Living Area
Vendor Enhanced
Area
Santa Monica (C14)
Vacancy Rate
0
LISTING UPDATED: 07/05/2024 09:04 AM

Property Details for 2408 5th Street

StatusSold
MLS #24-362531
Days on Market101
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1963
Lot Size0.14 AC / 6,005 SF
CountyLos Angeles County

Building Information for 2408 5th Street

Stories2Residences-Year Built1963Building Size-Lot Size0.14 AC / 6,005 SF

Property Information for 2408 5th Street

Community / Development
Community / Development
  • Number Of Units: 4
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Vendor Enhanced
  • Number Of Stories: 2
  • Number Of Buildings: 1
  • Type Of Units: Apartments
  • View: No
  • View Description: None
  • View: None
  • Water Heaters: Yes
Contract Info
Contract Info
  • Disclosures: As Is
  • Listing Type: Exclusive Agency
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Actual
  • Gross Operating Income: $139,145
  • Net Operating Income: $94,718.44
  • Gross Income: $143,448
  • Cap Rate: 4.15%
  • Gross Rent Multiplier: $15.68
  • Actual Annual Gross Rent: $143,448.00
  • Actual Gross Annual Income: $143,448
  • Actual Rent Total: $143,448.00
  • Financial Info as Of: 03/01/2024
  • Vacancy Allow Dollar: $4,303.00
  • Vacancy Allow Percent: 3.00%
  • Owner Pays: Water, Gardener
  • Total Annual Expense: 44426
  • Water Expense: $5,566.00
  • Tax Expense: $27,434
  • Gardener Expense: $1,200
  • Expense Licenses: $912.00
  • Insurance Expense: $4,727
  • Management Expense: $4,587.00
Land / Lot Info
Land / Lot Info
  • Lot Acreage: 0.1379
  • Lot Size Square Feet: 6005
Parking Details
Parking Details
  • Parking Garage: Driveway
  • Total Parking: 5
  • Open Other Spaces Total: 5
  • Parking Features: Driveway
Interior Features
Interior Features
  • Levels: Two
  • Cooling: None
  • Cooling Type: None
  • Heating: Wall Furnace
  • Heating Type: Wall
  • Equipment: Gas Or Electric Dryer Hookup, Hood Fan, Range/Oven, Garbage Disposal, Stackable W/D Hookup
  • Common Walls: Attached
  • Laundry: Stackable
Exterior Features
Exterior Features
  • New Construction: No
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 03-02-2024
  • Tenant Pays: Electricity, Gas
Unit Details
Unit 1 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $3,103.00
  • Unit Actual Rent: $3,103.00
  • Unit Projected Rent: $4,000.00
  • Like Units: 1
Unit 2 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $2,020.00
  • Unit Actual Rent: $2,020.00
  • Unit Projected Rent: $4,000.00
  • Like Units: 2
Unit 3 Information
  • Unit Beds: 2
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $4,350.00
  • Unit Actual Rent: $4,350.00
  • Unit Projected Rent: $4,350.00
  • Like Units: 3
Unit 4 Information
  • Unit Beds: 2
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $2,481.00
  • Unit Actual Rent: $2,481.00
  • Unit Projected Rent: $4,350.00
  • Like Units: 4
Unit Details
  • Unit Type Type: 2106, 2107, 2108, 2109
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $97,998.00
  • Assessed Improvement Percent: 61.0
  • Assessed Land Value: $62,653.00
  • Assessed Land Percent: 39
  • Assessed Total Value: $160,651.00

Property History for 2408 5th Street

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 2408 5th Street

Taxable ValueLand$63,906Additions$99,957Total$163,863
Tax Record2024$3,141 ($262 / month)
Home Facts
Total Finished SqFt3,996 SqFtAbove Grade Finished SqFt3,996 SqFtLot Size6,003 SqFtStyleQuadraplexYear Built1963ZoningSMOP2*CountyLOS ANGELESAPN4287-007-020

Schools near 2408 5th Street

This home is within Santa Monica-Malibu Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - 6 to 8
Public - 9 to 12
Public - K to 8
Rating
School
Distance
John Muir Elementary School
PublicK to 5

John Adams Middle School
Public6 to 8

Santa Monica High School
Public9 to 12

Santa Monica Alternative (K-8) School
PublicK to 8

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

Similar Homes

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Similar Sold Homes

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No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Robust Real Estate, Corey Nelson, DRE #01462372

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.