522 Idaho Avenue

Santa Monica, CA 90403

$2,375,000
Last Sold Price
6
Beds
6
Baths
3,360 Sq. Ft.
$707 / Sq. Ft.
3,360
Sq. Ft.
$707
per Sq. Ft.

Description

522-532 Idaho Ave, a six-unit investment opportunity in the coastal city of Santa Monica.. Located in the highly desirable, Wilshire/Montana neighborhood, the subject property is just one block south of Montana Avenue & only five blocks from Ocean Avenue. The majority of the units are leased at below market rents, providing an investor the opportunity to capture 35% rental upside as units turn. 522-532 Idaho Ave is situated on the corner of a quiet, tree-lined street. The property is separately metered...522-532 Idaho Ave, a six-unit investment opportunity in the coastal city of Santa Monica.. Located in the highly desirable, Wilshire/Montana neighborhood, the subject property is just one block south of Montana Avenue & only five blocks from Ocean Avenue. The majority of the units are leased at below market rents, providing an investor the opportunity to capture 35% rental upside as units turn. 522-532 Idaho Ave is situated on the corner of a quiet, tree-lined street. The property is separately metered for electric and will be delivered with one vacancy. Santa Monica is one of the most sought-after rental markets in all of Los Angeles. Located just below Brentwood, this booming area is home to young professionals and families alike. Companies such as Activision Blizzard, Universal Music Group, Snap, and Lionsgate attract top talent to this neighborhood.. Third Street Promenade provides residents with great dining and shopping experiences, while the beach and Santa Monica Pier allow residents to enjoy stunning views.
  1. Listed by Neema Ahadian • DRE #01346750 • Brokerage DRE #01240999 • Marcus & Millichap

Property Details for 522 Idaho Avenue

Zoning
SMR2*
Parcel Number
4292010001
Total Units
6.0
Living Area
3360
Source Living Area
Vendor Enhanced
Area
Santa Monica (C14)
Vacancy Rate
1
Lot Size Area
7480

Location

Add your commute
LISTING UPDATED: 12/13/2023 10:07 AM

Property Details for 522 Idaho Avenue

StatusSold
MLS #23-269600
Days on Market218
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1922
Lot Size0.17 AC / 7,480 SF
CountyLos Angeles County

Location

Add your commute

Building Information for 522 Idaho Avenue

Stories-Residences-Year Built1922Building Size-Lot Size0.17 AC / 7,480 SF

Payment Calculator

$15,627 per month

30 year fixed, 7.25% Interest

Principal and Interest

$12,961

Property Taxes

$2,666

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 522 Idaho Avenue

Community / Development
Community / Development
  • Number Of Units: 6
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Vendor Enhanced
  • Number Of Stories: 0
  • Number Of Buildings: 1
  • Type Of Units: apartments
Contract Info
Contract Info
  • Disclosures: None
  • Listing Type: Exclusive Agency
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Actual
  • Gross Operating Income: $144,965
  • Net Operating Income: $97,297.00
  • Gross Income: $149,448
  • Gross Rent Multiplier: $16.39
  • Total Annual Expense: 47667
Land / Lot Info
Land / Lot Info
  • Lot Acreage: 0.1717
  • Lot Size Square Feet: 7480
Parking Details
Parking Details
  • Parking Garage: None
  • Total Parking: 0
  • Parking Features: None
Interior Features
Interior Features
  • Levels: One
  • Cooling: None
  • Cooling Type: None
  • Heating: Natural Gas
  • Heating Type: Natural Gas
  • Equipment: Range/Oven, Refrigerator
Exterior Features
Exterior Features
  • New Construction: No
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 05-11-2023
Unit Details
Unit 1 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,990.00
  • Unit Actual Rent: $12,454.00
  • Unit Projected Rent: $16,800.00
  • Like Units: 6
Unit Details
  • Unit Type Type: 2106
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $633,670.00
  • Assessed Improvement Percent: 24.62
  • Assessed Land Value: $1,939,612.00
  • Assessed Land Percent: 75.38
  • Assessed Total Value: $2,573,282.00

Property History for 522 Idaho Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

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

Public Records for 522 Idaho Avenue

Taxable ValueLand$1,978,404Additions$646,343Total$2,624,747
Tax Record2023$31,988 ($2,666 / month)
Home Facts
Total Finished SqFt3,360 SqFtAbove Grade Finished SqFt3,360 SqFtLot Size7,480 SqFtStyleMulti-Family Res (5+ Units)Year Built1922ZoningSMR2*CountyLOS ANGELESAPN4292-010-001

Schools near 522 Idaho Avenue

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 Marcus & Millichap, Neema Ahadian, DRE #01346750

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.