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$2,295,000
Est. payment /mo
8 Beds
5 Baths
4,426 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 4,426 sqft
Price per Sqft $518
MLS Listing ID 25551221
Bedrooms 8
HOA Y/N No
Year Built 1953
Lot Size 5,018 Sqft
Property Description
231 California Avenue, a rare five-unit multifamily investment located in the prestigious North of Wilshire enclave of Santa Monica-just three blocks from the beach and moments from the vibrant retail and dining along Montana Avenue. Built in 1953, this two-story property spans approximately 4,426 square feet on a 5,016 square-foot lot zoned SMR3*, offering investors a compelling blend of prime location, strong in-place fundamentals, and substantial long-term upside. The building features an attractive unit mix of spacious one- and two-bedroom layouts, including two 1-bed/1 bath units, two 2-bed/1-bath units and one 2-bed/1.5- bath unit which boasts a private outdoor patio. The property includes four on-site parking spaces (two garaged and two tandem), with additional permitted street parking available for residents. Each unit is separately metered for gas and electricity, includes its own water heater, and is supported by a security system. Operating expenses are minimal, limited primarily to water, common area electricity, and trash. Boasting a Walk Score of 89, the location offers residents unparalleled access to Santa Monica's top lifestyle destinations, including the beach, Palisades Park, Third Street Promenade, and the iconic Pier. Easy access to major transit corridors like the 10 Freeway, 405, PCH, and Expo Line ensures convenient connectivity to Downtown LA, Silicon Beach, and LAX. This is a premier opportunity to acquire a turn-key asset in one of Southern California's most supply-constrained and highly desirable coastal submarkets.
Location
State CA
County Los Angeles
Area C14 - Santa Monica
Zoning SMR3*
Interior
Heating Central
Cooling None
Fireplace No
Appliance Gas Cooktop, Refrigerator
Laundry Common Area
Exterior
Parking Features Door-Multi, Driveway, Garage
Garage Spaces 2.0
Garage Description 2.0
Total Parking Spaces 4
Building
Story 2
Entry Level Two
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 4292022009
Special Listing Condition Standard
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Listed by John Swartz • Compass