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101-103 Strand St

7 Unit Block of Flats £4,414,455 (£630,636/Unit) 3.98% Net Initial Yield Santa Monica, CA 90405

Investment Highlights

  • Prime OCEAN FRONT Santa Monica Beach Location
  • Seller Financing up to 80% for 2 Years
  • A rare opportunity for an Owner User to live at the beach with Ocean Views

Executive Summary

101 - 103 Strand Street is a prime OCEAN FRONT Santa Monica Beach Location! A rare opportunity for an Owner User to live at the beach with Ocean Views and have rental income. Seller Financing up to 80% for 2 Years for qualified buyer. There are no comparable multifamily buildings this close to the beach with Ocean Views that have sold and few comparable rentals. Condo sales in the area that are even close to this location have a comparable average of $1245 Per Sq Ft plus homeowners dues averaging $1587. OWNER'S UNIT: Upstairs 2 Bedrooms & 2 Baths. Ocean Front Views from both Bedrooms & Front Patio. Real hardwood floors throughout. Tiled flooring and granite counter tops in kitchen and bathrooms. Dual paned windows. Stack washer/dryer & lots of closet space. Copper Plumbing. 3 of the 7 units have laundry in the units, the other units have space to add stack washer/dryers and there is a laundry room on site with machines that are owned. This rare 7 unit apartment building directly across from the beach on Ocean Avenue boasts stunning Ocean views, Sunsets and sits just above the sandy shores of Santa Monica Beach. Live the experience of beachfront living. Get right onto the beach bike path or walk to Main Street with great restaurants and shopping. PLEASE DO NOT DISTURB TENANTS.

Attachments

101 Strand OM

Financial Summary (Actual - 2023) Click Here to Access

Annual Annual Per SF
Gross Rental Income $99,999 $9.99
Other Income - -
Vacancy Loss - -
Effective Gross Income $99,999 $9.99
Taxes $99,999 $9.99
Operating Expenses $99,999 $9.99
Total Expenses $99,999 $9.99
Net Operating Income $99,999 $9.99

Financial Summary (Actual - 2023) Click Here to Access

Gross Rental Income
Annual $99,999
Annual Per SF $9.99
Other Income
Annual -
Annual Per SF -
Vacancy Loss
Annual -
Annual Per SF -
Effective Gross Income
Annual $99,999
Annual Per SF $9.99
Taxes
Annual $99,999
Annual Per SF $9.99
Operating Expenses
Annual $99,999
Annual Per SF $9.99
Total Expenses
Annual $99,999
Annual Per SF $9.99
Net Operating Income
Annual $99,999
Annual Per SF $9.99

Property Facts

Price £4,414,455
Price Per Unit £630,636
Sale Type Investment
Net Initial Yield 3.98%
Gross Rent Multiplier 18.09
No. Units 7
Property Type Residential
Property Subtype Apartment
Apartment Style Low Rise
Building Class C
Lot Size 0.12 AC
Building Size 5,728 SF
Number of Floors 2
Year Built 1955
Parking Ratio 1.22/1,000 SF

Unit Amenities

  • Balcony
  • Storage Space
  • Washer/Dryer
  • Refrigerator
  • Oven
  • Tub/Shower

Site Amenities

  • Laundry Facilities

Unit Mix Information

Description No. Units Avg. Rent.Mo SF
1+1 5 £1,855 -
2+1 2 £4,405 -
Walk Score ®
Walker's Paradise (93)
Bike Score ®
Very Bikeable (88)
What is a Walk Score®, Transit Score® & Bike Score®?
Walk Score® measures the walkability of any address.
Transit Score® measures access to public transit.
Bike Score® measures bikeability of a location.
What is a Walk Score®
, Transit Score® & Bike Score?
Walk Score® measures the walkability
of any address. Transit Score®
measures access to public transit. Bike Score®
measures bikeability of a location.®

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
4289-022-006
Land Assessment
£2,675,776 (2024)
Improvements Assessment
£891,922 (2024)
Total Assessment
£3,567,698 (2024)
Annual Taxes
-£1 (£0.00/sf)
Tax Year
2023

zoning

Zoning Code SMOP3
SMOP3
  • Listing ID: 33831983

  • Date on Market: 11/11/2024

  • Last Updated:

  • Address: 101-103 Strand St, Santa Monica, CA 90405

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