937 2nd Street

Santa Monica, CA 90403

$7,510,000
Last Sold Price
22
Beds
20
Baths
14,544 Sq. Ft.
$516 / Sq. Ft.
14,544
Sq. Ft.
$516
per Sq. Ft.

Description

BEST opportunity in BEST part of Santa Monica. Huge $1,600,000 reduction from original list price! Bring all offers! We are pleased to offer for sale rare multifamily assets at 937 & 943 2nd Street in the coveted beachside community of Santa Monica. These side by side properties each have their own APN and share a beautiful stone paved courtyard. The properties boasts a great unit mix of 1 & 2 bedrooms, all with significant rental upside. Just a block to Montana Avenue and a block to the beach, these...BEST opportunity in BEST part of Santa Monica. Huge $1,600,000 reduction from original list price! Bring all offers! We are pleased to offer for sale rare multifamily assets at 937 & 943 2nd Street in the coveted beachside community of Santa Monica. These side by side properties each have their own APN and share a beautiful stone paved courtyard. The properties boasts a great unit mix of 1 & 2 bedrooms, all with significant rental upside. Just a block to Montana Avenue and a block to the beach, these properties truly reflect the Santa Monica beachside vibe.937 & 943 2nd Street puts residents in the center of everything Santa Monica has to offer. Additionally, the property has on-site parking, an on-site laundry room (machines owned by Seller) and lushly landscaped grounds.
  1. Listed by Jonathan Taksa • DRE #01366169 • Brokerage DRE #01164364 • Remax Commercial and Investment Realty

Property Details for 937 2nd Street

Zoning
SMR3*
Parcel Number
4292023013
Total Units
20.0
Living Area
14544
Source Living Area
Assessor
Area
Santa Monica (C14)
Vacancy Rate
15404
Lot Size Area
15017
LISTING UPDATED: 10/08/2024 12:04 PM

Property Details for 937 2nd Street

StatusSold
MLS #24-370305
Days on Market152
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1955
Lot Size0.34 AC / 15,017 SF
CountyLos Angeles County

Building Information for 937 2nd Street

Stories2Residences-Year Built1955Building Size-Lot Size0.34 AC / 15,017 SF

Property Information for 937 2nd Street

Community / Development
Community / Development
  • Number Of Units: 20
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Assessor
  • Number Of Stories: 2
  • Number Of Buildings: 2
  • Type Of Units: 2s,1s
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: $516,456
  • Net Operating Income: $343,594.00
  • Gross Income: $513,456
  • Cap Rate: 4.52%
  • Gross Rent Multiplier: $14.71
  • Total Annual Expense: 157459
Land / Lot Info
Land / Lot Info
  • Additional Parcel Number: Yes
  • Lot Acreage: 0.1726
  • Lot Size Square Feet: 15017
Parking Details
Parking Details
  • Parking Garage: Assigned
  • Total Parking: 16
  • Parking Features: Assigned
Interior Features
Interior Features
  • Levels: Two
  • Cooling Type: Wall Unit(s)
  • Heating: Wall Furnace
  • Heating Type: Wall
  • Equipment: None
Exterior Features
Exterior Features
  • New Construction: No
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 03-19-2024
  • Rent Control: Yes
  • Rent Control: 100
Unit Details
Unit 1 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,637.00
  • Unit Actual Rent: $6,549.00
  • Unit Projected Rent: $14,780.00
  • Like Units: 4
Unit 2 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $2,265.00
  • Unit Actual Rent: $36,239.00
  • Unit Projected Rent: $51,120.00
  • Like Units: 16
Unit Details
  • Unit Type Type: 2106, 2107
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $1,443,973.00
  • Assessed Improvement Percent: 29.94
  • Assessed Land Value: $3,378,901.00
  • Assessed Land Percent: 70.06
  • Assessed Total Value: $4,822,874.00

Property History for 937 2nd 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 937 2nd Street

Taxable ValueLand$3,446,479Additions$1,473,472Total$4,919,951
Tax Record2024$58,669 ($4,889 / month)
Home Facts
Total Finished SqFt7,272 SqFtAbove Grade Finished SqFt7,272 SqFtLot Size7,516 SqFtStyleMulti-Family Res (5+ Units)Year Built1955ZoningSMR3*CountyLOS ANGELESAPN4292-023-013

Schools near 937 2nd 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
Roosevelt Elementary School
PublicK to 5

Lincoln 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

Sorry, we can't find any similar homes at this time. Please check back later.

Similar Sold Homes

Sorry, we can't find any similar sold homes at this time. Please check back later.

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 Remax Commercial and Investment Realty, Jonathan Taksa, DRE #01366169

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.