1124 7 Th St Santa Monica, CA 90403

$2,550,000
Santa Monica, CA   90403
2 Beds, 1.0 Baths, 1,256 sq ft, 7,511 sq ft lot, Built in 1907
1124 7 Th St, Santa Monica, CA 90403 Photo 0
1124 7 Th St, Santa Monica, CA 90403 Photo 1
1124 7 Th St, Santa Monica, CA 90403 Photo 2
1124 7 Th St, Santa Monica, CA 90403 Photo 3
2 Beds,
1.0 Baths,
1,256 sq ft,
7,511 sq ft lot
Built in 1907

Description

MLS# 19444468

The subject property is a historical home with potential to rehabilitate the existing cottage on the property and add 3 units as per plans. The comparables used to evaluate the property are recent townhome sales in the area. The comparable with the most effective data to project a value is 954-956 A-C 5th St. This property had development potential at the time of sale, the existing historic home on the property was rehabilitated and the developer added 3 additional units all approximately the same size as our subject property's architectural assumptions. Condominiums in this highly desired pocket of Santa Monica sell for $2,500,000 on average, and a developer would have the opportunity to build 3 more units behind the existing cottage and later sell all four (4) condos for a total of $10,000,000. This is a huge spread and a great value-add opportunity for any developer to capitalize on the hot condominium market in Santa Monica. Listed by David Harrington, Matthews Real Estate Investmen.

Description

MLS# 19444468

The subject property is a historical home with potential to rehabilitate the existing cottage on the property and add 3 units as per plans. The comparables used to evaluate the property are recent townhome sales in the area. The comparable with the most effective data to project a value is 954-956 A-C 5th St. This property had development potential at the time of sale, the existing historic home on the property was rehabilitated and the developer added 3 additional units all approximately the same size as our subject property's architectural assumptions. Condominiums in this highly desired pocket of Santa Monica sell for $2,500,000 on average, and a developer would have the opportunity to build 3 more units behind the existing cottage and later sell all four (4) condos for a total of $10,000,000. This is a huge spread and a great value-add opportunity for any developer to capitalize on the hot condominium market in Santa Monica. Listed by David Harrington, Matthews Real Estate Investmen.

Area
AREA: C14 - Santa Monica
COUNTY: LA
Building Info
STORIES: 1
PARKING: Other
ROOMS: See Remarks
COOLING: See Remarks
HEATING: See Remarks
VIEW: See Remarks
POOL: None
LAUNDRY: See Remarks
Interior Features
FLOOR: See Remarks
FIREPLACE: See Remarks
Exterior Features
STYLE: COT
Community
UNITS TOTAL: 1
STORIES TOTAL: 1
Land
ZONE: SMR2*
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