1047 Ocean Park Boulevard
1047 Ocean Park Boulevard
$2,875,000
10
7
5,296
5,296
$543
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!
- Listed by David Messiah • DRE #02117893 • Brokerage DRE #01399621 • Lyon Stahl Investment Real Estate, Inc.
- Listed by Cameron Samimi • DRE #02035763 • Lyon Stahl Investment Real Estate, Inc.
Property Details for 1047 Ocean Park Boulevard
Zoning
SMR3*
Parcel Number4284009001
Total Units7.0
Living Area5296
Source Living AreaEstimated
AreaSanta Monica (C14)
Vacancy Rate0
Lot Size Area6619
Location
LISTING UPDATED: 03/01/2024 09:50 AM
Property Details for 1047 Ocean Park Boulevard
Status | Active |
---|---|
MLS # | 24-358301 |
Days on Market | 69 |
Taxes | - |
HOA Fees | - |
Condo/Co-op Fees | - |
Compass Type | Multi Family |
MLS Type | Residential Income |
Year Built | 1947 |
Lot Size | 0.15 AC / 6,619 SF |
County | Los Angeles County |
Location
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
The Payment Calculator is for illustrative purposes only.
Property Information for 1047 Ocean Park Boulevard
Property History for 1047 Ocean Park Boulevard
Date | Event & Source | Price | Appreciation |
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Date | Event & Source | Price |
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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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