1245 10th Street

Santa Monica, CA 90401

$4,718,000
Last Sold Price
Beds
7,512 Sq. Ft.
$628 / Sq. Ft.
7,512
Sq. Ft.
$628
per Sq. Ft.

Description

Well maintained and ideally located, 11 unit investment opportunity in Santa Monica. The asset is generating $280k in gross income with potential income of $360k. Eight units are renovated and collecting market rents hedging risks of being stuck with legacy tenants while leaving 25% potential upside for added value and income. The location attracts ideal tenants seeking close proximity to tech companies, shopping, beaches, restaurants and a walkable, fun, lifestyle that demands healthy rents. The...Well maintained and ideally located, 11 unit investment opportunity in Santa Monica. The asset is generating $280k in gross income with potential income of $360k. Eight units are renovated and collecting market rents hedging risks of being stuck with legacy tenants while leaving 25% potential upside for added value and income. The location attracts ideal tenants seeking close proximity to tech companies, shopping, beaches, restaurants and a walkable, fun, lifestyle that demands healthy rents. The property features parking for all units. The building is under Santa Monica rent control. Each unit offers spacious, efficient and bright floor plans.
  1. Listed by Eric von Bluecher • DRE #01926201 • Brokerage DRE #01096996 • Lee & Associates

Property Details for 1245 10th Street

Parking Spaces Total
0
Private Pool
No
Total Units
11.0
Building Type
Attached
Living Area
7512
Assessor Parcel Number
4282-007-015
Property Attached YN
true
Common Walls
2+ Common Walls

Location

Listing Courtesy of Lee & Associates, Eric von Bluecher, DRE #01926201

Sold By NONMEMBER MRML, Chris Arthur, DRE #01745525

Add your commute
LISTING UPDATED: 04/19/2021 11:13 AM

Property Details for 1245 10th Street

StatusClosed
MLS #NDP2100208
Days on Market1
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1960
Lot Size0.17 AC / 7,517 SF
CountyLos Angeles County

Location

Listing Courtesy of Lee & Associates, Eric von Bluecher, DRE #01926201

Sold By NONMEMBER MRML, Chris Arthur, DRE #01745525

Add your commute

Building Information for 1245 10th Street

Stories-Residences-Year Built1960Building Size-Lot Size0.17 AC / 7,517 SF

Payment Calculator

$30,645 per month

30 year fixed, 7.25% Interest

Principal and Interest

$25,748

Property Taxes

$4,897

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 1245 10th Street

Income / Expense / Tax Details
Income Details
  • Gross Income: $286,776
  • Gross Scheduled Income: $286,752
  • Net Operating Income: $180,966
  • Cap Rate: 3.58
Expense Details
  • Operating Expense: $286,752
  • New Taxes Expense: $61,105
  • Fuel Expense: $2,464
  • Insurance Expense: $3,300
  • Professional Management Expense: $11,470
  • Trash Expense: $150
  • Water Sewer Expense: $2,464
  • Total Expenses: $91,448
Tax / Assessment Info
  • Tax Tract Number: 0
  • Tax Lot: 0
Community / Development
Community / Development
  • Community Features: Urban
Property / Structure Info
Interior Features
  • Laundry: No
  • Laundry Features: None
Exterior Features
  • Security Features: Carbon Monoxide Detector(s)
  • Pool Features: None
  • Pool Description: None
  • Pool: N/K
Land/Lot Info
  • Lot Features: Landscaped
  • Number Of Units: 11
  • Land Lease: No
  • Land Lease Type: Fee
  • Sewer: Public Sewer
  • Water Source: Public
Parking Info
  • Garage Spaces: 0
  • Parking Garage Spaces: 0
  • Carport Spaces: 0
Unit Information
Unit Information
  • Rent Controlled: Yes
  • Number Of Buildings: 1
  • Number Of Separate Electric Meters: 12
  • Number Of Separate Gas Meters: 12
  • Number Of Separate Water Meters: 1

Property History for 1245 10th 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 1245 10th Street

Taxable ValueLand$2,827,807Additions$2,081,700Total$4,909,507
Tax Record2023$58,761 ($4,897 / month)
Home Facts
Total Finished SqFt7,512 SqFtAbove Grade Finished SqFt7,512 SqFtStories1Lot Size7,517 SqFtStyleMulti-Family Res (5+ Units)Year Built1960ZoningSMR3*CountyLOS ANGELESAPN4282-007-015

Schools near 1245 10th 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

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

Listing Courtesy of Lee & Associates, Eric von Bluecher, DRE #01926201

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.