1047 Ocean Park Boulevard

Santa Monica, CA 90405

$2,875,000
Price
10
Beds
7
Baths
5,296 Sq. Ft.
$543 / Sq. Ft.
5,296
Sq. Ft.
$543
per Sq. Ft.

Description

1047 Ocean Park Blvd is a 5,296-square-foot, seven-unit apartment building located in the Ocean Park Submarket in the City of Santa Monica. Situated on a 6,617-sf corner lot, the property contains a highly desirable unit mix of (five) 2-bedroom/1-bathroom units and (two) studio units, while (one) 2-bedroom/1-bathroom unit is a spacious townhome. The property was retrofitted within the last two years; foundational work was completed in 2023, and a new concrete driveway was installed in November 2022....1047 Ocean Park Blvd is a 5,296-square-foot, seven-unit apartment building located in the Ocean Park Submarket in the City of Santa Monica. Situated on a 6,617-sf corner lot, the property contains a highly desirable unit mix of (five) 2-bedroom/1-bathroom units and (two) studio units, while (one) 2-bedroom/1-bathroom unit is a spacious townhome. The property was retrofitted within the last two years; foundational work was completed in 2023, and a new concrete driveway was installed in November 2022. Furthermore, there are a total of ten parking spaces with four additional tandem spots. 1047 Ocean Park Blvd provides an investor with the opportunity to own a trophy asset in a desirable pocket of Santa Monica! The asset has a value-add component with approximately 42% in rental upside and a 6.50% pro-forma cap rate and 11.07 pro-forma GRM!
  1. Listed by David Messiah • DRE #02117893 • Brokerage DRE #01399621 • Lyon Stahl Investment Real Estate, Inc.
  2. Listed by Cameron Samimi • DRE #02035763 • Lyon Stahl Investment Real Estate, Inc.

Property Details for 1047 Ocean Park Boulevard

Zoning
SMR3*
Parcel Number
4284009001
Total Units
7.0
Living Area
5296
Source Living Area
Estimated
Area
Santa Monica (C14)
Vacancy Rate
0
Lot Size Area
6619

Location

Listing Courtesy of Lyon Stahl Investment Real Estate, Inc., David Messiah, DRE #02117893; Lyon Stahl Investment Real Estate, Inc., Cameron Samimi, DRE #02035763
Add your commute
LISTING UPDATED: 03/01/2024 09:50 AM

Property Details for 1047 Ocean Park Boulevard

StatusActive
MLS #24-358301
Days on Market69
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1947
Lot Size0.15 AC / 6,619 SF
CountyLos Angeles County

Location

Listing Courtesy of Lyon Stahl Investment Real Estate, Inc., David Messiah, DRE #02117893; Lyon Stahl Investment Real Estate, Inc., Cameron Samimi, DRE #02035763
Add your commute

Building Information for 1047 Ocean Park Boulevard

Stories-Residences-Year Built1947Building Size-Lot Size0.15 AC / 6,619 SF

Payment Calculator

$16,034 per month

30 year fixed, 7.25% Interest

Principal and Interest

$15,690

Property Taxes

$344

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 1047 Ocean Park Boulevard

Community / Development
Community / Development
  • Number Of Units: 7
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Vendor Enhanced
  • Number Of Stories: 0
  • Number Of Buildings: 1
  • Type Of Units: 2+1, Studio
Contract Info
Contract Info
  • Disclosures: As Is
  • Listing Type: Exclusive Right To Sell
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Actual
  • Gross Operating Income: $177,842
  • Net Operating Income: $115,977.00
  • Gross Income: $182,724
  • Gross Rent Multiplier: $15.73
  • Total Annual Expense: 61866
Land / Lot Info
Land / Lot Info
  • Lot Acreage: 0.152
  • Lot Size Square Feet: 6619
Parking Details
Parking Details
  • Parking Garage: Carport
  • Total Parking: 0
  • Parking Features: Carport
Interior Features
Interior Features
  • Levels: Two
  • Cooling Type: Other
  • Heating Type: Other
  • Equipment: Microwave, Dryer, Washer
  • Laundry: Washer Included, Dryer Included
Exterior Features
Exterior Features
  • Pool: No
  • Private Pool: No
  • Pool Description: None
  • Pool Features: None
  • Spa: No
  • Spa: None
  • New Construction: No
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 02-20-2024
Unit Details
Unit 1 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $877.00
  • Unit Actual Rent: $877.00
  • Unit Projected Rent: $3,450.00
  • Like Units: 1
Unit 2 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $2,290.00
  • Unit Actual Rent: $2,290.00
  • Unit Projected Rent: $3,450.00
  • Like Units: 1
Unit 3 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $2,476.00
  • Unit Actual Rent: $2,476.00
  • Unit Projected Rent: $3,450.00
  • Like Units: 1
Unit 4 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $2,876.00
  • Unit Actual Rent: $2,876.00
  • Unit Projected Rent: $3,450.00
  • Like Units: 1
Unit 5 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $2,996.00
  • Unit Actual Rent: $2,996.00
  • Unit Projected Rent: $3,550.00
  • Like Units: 1
Unit 6 Information
  • Unit Beds: 0
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,962.00
  • Unit Actual Rent: $1,962.00
  • Unit Projected Rent: $2,150.00
  • Like Units: 1
Unit 7 Information
  • Unit Beds: 0
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,750.00
  • Unit Actual Rent: $1,750.00
  • Unit Projected Rent: $2,150.00
  • Like Units: 1
Unit Details
  • Unit Type Type: 2106, 2107, 2108, 2109, 2110, 2111, 2112
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $118,037.00
  • Assessed Improvement Percent: 57.0
  • Assessed Land Value: $89,051.00
  • Assessed Land Percent: 43
  • Assessed Total Value: $207,088.00

Property History for 1047 Ocean Park Boulevard

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

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

Public Records for 1047 Ocean Park Boulevard

Taxable ValueLand$89,051Additions$118,317Total$207,368
Tax Record2023$4,124 ($344 / month)
Home Facts
Total Finished SqFt5,296 SqFtAbove Grade Finished SqFt5,296 SqFtLot Size6,617 SqFtStyleMulti-Family Res (5+ Units)Year Built1947ZoningSMR3*CountyLOS ANGELESAPN4284-009-001

Schools near 1047 Ocean Park Boulevard

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 - 9 to 12
Rating
School
Distance
Will Rogers Elementary School
PublicK to 5

John Adams Middle School
Public6 to 8

Santa Monica High School
Public9 to 12

Olympic High (Continuation) School
Public9 to 12

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.

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1047 Ocean Park Boulevard is a multi-family home for sale in Santa Monica, CA 90405. This property was listed for sale on February 20, 2024 by Lyon Stahl Investment Real Estate, Inc., it's currently listed at $2,875,000. This listing's school district is Santa Monica-Malibu Unified School District. Nearby schools include Will Rogers Elementary School, John Adams Middle School and Santa Monica High School. 1047 Ocean Park Boulevard is a 10-bed, 7-bath, 5,296 sqft multi-family home built in 1947.

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. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Lyon Stahl Investment Real Estate, Inc., David Messiah, DRE #02117893; Lyon Stahl Investment Real Estate, Inc., Cameron Samimi, DRE #02035763

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.