423 Ocean Av Santa Monica, CA 90402

$16,000,000
Santa Monica, CA   90402
28 Beds, 18.0 Baths, 0 sq ft, 22,464 sq ft lot, Built in 1936
423 Ocean Av, Santa Monica, CA 90402 Photo 0
423 Ocean Av, Santa Monica, CA 90402 Photo 1
423 Ocean Av, Santa Monica, CA 90402 Photo 2
423 Ocean Av, Santa Monica, CA 90402 Photo 3
423 Ocean Av, Santa Monica, CA 90402 Photo 4
423 Ocean Av, Santa Monica, CA 90402 Photo 5
423 Ocean Av, Santa Monica, CA 90402 Photo 6
423 Ocean Av, Santa Monica, CA 90402 Photo 7
423 Ocean Av, Santa Monica, CA 90402 Photo 8
28 Beds,
18.0 Baths,
0 sq ft,
22,464 sq ft lot
Built in 1936

Description

MLS# 818005507

423 Ocean is a generational opportunity to acquire a vacant 16-unit apartment building with underlying entitlements for 12 condominium units located on prime Ocean Avenue, north of Montana Avenue, in the City of Santa Monica. The existing apartment units have been vacated pursuant to the Ellis Act in anticipation of building the condominium project. A future Buyer will have the option of rehabbing the existing units and re-leasing them at current market rents (subject to rent control going forward) or executing the approved condominium development plan. The existing buildings are designated historical landmarks, which have been incorporated into the future development plan. Listed by Richard Byrd, Park Place Partners, Inc..

Description

MLS# 818005507

423 Ocean is a generational opportunity to acquire a vacant 16-unit apartment building with underlying entitlements for 12 condominium units located on prime Ocean Avenue, north of Montana Avenue, in the City of Santa Monica. The existing apartment units have been vacated pursuant to the Ellis Act in anticipation of building the condominium project. A future Buyer will have the option of rehabbing the existing units and re-leasing them at current market rents (subject to rent control going forward) or executing the approved condominium development plan. The existing buildings are designated historical landmarks, which have been incorporated into the future development plan. Listed by Richard Byrd, Park Place Partners, Inc..

Area
AREA: C14 - Santa Monica
B TRACT: Not Applicable - 1007242
COUNTY: LA
Building Info
STORIES: 3
VIEW: Bluff, Ocean, Panoramic, Park Or Green Belt, Water
Garage & Parking
PARKING SPACES: 15.00
GARAGE SPACES: 15.00
Community
UNITS TOTAL: 16
STORIES TOTAL: 3
Land
ZONE: SMR4*
Recently viewed

Nearby cities:    Beverly Hills    El Segundo    Brentwood    Culver City