Ocean Park Apartments - 1901 6th St, Santa Monica. It is strategically located across the street from Santa Monica High School and just a block away from Santa Monica Civic Center (City Hall, Court, and police station). It is also steps away from Santa Monica beach and some of the best amenities in Santa Monica (Santa Monica Third Street Promenade, Santa Monica Pier). This asset offers the investor a rare opportunity to own a value-add apartment asset in a class A location and neighborhood in Santa Monica. The property is a 16-unit apartment in the Ocean Park area of Santa Monica. The Ocean Park neighborhood is very unique in that it has one of the highest proportions of one, two, or no(studio) bedroom real estate of any neighborhood in America; it has a higher proportion of its residents employed as executives, managers, and professionals than 98.4% of the neighborhoods in American. This unique neighborhoods characteristics translate to a younger tenant mix and higher mobility which is a desirable characteristic in any rent-controlled area. It has a strong demographic of $122,576 average household income within a 1-mile radius and has superb access to FWY 10, CA-1N (Pacific Coast Highway) and FWY 405.
The property is a 3-story apartment that was built in 1969. It has a total of 14,399 square feet building size and is situated on a 10,195 square feet OP4 zoned lot. The units are situated on the 2nd and 3rd floor with secured parking garage on the ground level. Listed by Handoko Chen, Gig Real Estate Inc..