HUGE PRICE REDUCTION - NOW PRICED TO SELL | 537 San Vicente Blvd
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HUGE PRICE REDUCTION - NOW PRICED TO SELL 537 San Vicente Blvd
33 Unit Apartment Building $27,411,174 CAD ($830,642 CAD/Unit) Santa Monica, CA 90402
INVESTMENT HIGHLIGHTS
- HUGE PRICE REDUCTION - NOW PRICED TO SELL
- Significant Rental Upside
- Approx. $1,443,000 Spent on Apartment Renovations and Approx. $567,000 Spent on Common Area Renovations
- Premier Santa Monica Location: 33 units with an excellent unit mix
- Subterranean Parking
EXECUTIVE SUMMARY
HUGE PRICE REDUCTION - NOW PRICED TO SELL. Taksa Investment Group, part of RE/MAX Commercial & Investment Realty, is pleased to offer for sale an incredibly rare multifamily asset at 537 San Vicente Blvd. in the heart of LA’s famed beach city of Santa Monica. Originally built in 1957, the building boasts an ideal unit mix consisting of all large 1 & 2 bedroom units. All of these units are extremely spacious, have a terrific floor plan, and offer an abundance of natural light.
There is significant rental upside, and on-site parking for 33 cars (and a wraparound driveway for additional parking), an on-site laundry facility and beautiful sparkling pool. The unit mix includes (19) 1-bed, 1-bath units, and (14) 2-bed, 2-bath units. This is a fantastic trophy asset in an undeniably attractive location that will surely pay long-term dividends to a savvy investor.
A quick walk to Montana Avenue and the beach, this rare offering presents an astute investor with the unique opportunity to capitalize on higher market rents and to acquire a premier turnkey asset in one of the best rental locations in all of Los Angeles.
There is significant rental upside, and on-site parking for 33 cars (and a wraparound driveway for additional parking), an on-site laundry facility and beautiful sparkling pool. The unit mix includes (19) 1-bed, 1-bath units, and (14) 2-bed, 2-bath units. This is a fantastic trophy asset in an undeniably attractive location that will surely pay long-term dividends to a savvy investor.
A quick walk to Montana Avenue and the beach, this rare offering presents an astute investor with the unique opportunity to capitalize on higher market rents and to acquire a premier turnkey asset in one of the best rental locations in all of Los Angeles.
FINANCIAL SUMMARY (PRO FORMA - 2024) |
ANNUAL (CAD) | ANNUAL PER SF (CAD) |
|---|---|---|
| Gross Rental Income |
$1,740,435
|
$43.07
|
| Other Income |
$12,585
|
$0.31
|
| Vacancy Loss |
$52,213
|
$1.29
|
| Effective Gross Income |
$1,700,806
|
$42.09
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$565,376
|
$13.99
|
| Net Operating Income |
$1,135,430
|
$28.10
|
FINANCIAL SUMMARY (PRO FORMA - 2024)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $1,740,435 |
| Annual Per SF | $43.07 |
| Other Income (CAD) | |
|---|---|
| Annual | $12,585 |
| Annual Per SF | $0.31 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $52,213 |
| Annual Per SF | $1.29 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $1,700,806 |
| Annual Per SF | $42.09 |
| Taxes (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses (CAD) | |
|---|---|
| Annual | $565,376 |
| Annual Per SF | $13.99 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $1,135,430 |
| Annual Per SF | $28.10 |
PROPERTY FACTS
| Price | $27,411,174 CAD | Building Class | C |
| Price Per Unit | $830,642 CAD | Lot Size | 0.51 AC |
| Sale Type | Investment | Building Size | 40,412 SF |
| Gross Rent Multiplier | 15.64 | Average Occupancy | 91% |
| No. Units | 33 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1957 |
| Property Subtype | Apartment | Parking Ratio | 0.82/1,000 SF |
| Apartment Style | Low Rise |
| Price | $27,411,174 CAD |
| Price Per Unit | $830,642 CAD |
| Sale Type | Investment |
| Gross Rent Multiplier | 15.64 |
| No. Units | 33 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.51 AC |
| Building Size | 40,412 SF |
| Average Occupancy | 91% |
| No. Stories | 3 |
| Year Built | 1957 |
| Parking Ratio | 0.82/1,000 SF |
UNIT AMENITIES
- Balcony
- Heating
- Refrigerator
- Oven
- Range
SITE AMENITIES
- Laundry Facilities
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 19 | $3,673 CAD | 800 |
| 2+2 | 14 | $4,513 CAD | 1,400 |
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Bike Score®
Very Bikeable (78)
PROPERTY TAXES
| Parcel Number | 4293-001-018 | Improvements Assessment | $9,193,328 CAD |
| Land Assessment | $22,565,445 CAD | Total Assessment | $31,758,773 CAD |
PROPERTY TAXES
Parcel Number
4293-001-018
Land Assessment
$22,565,445 CAD
Improvements Assessment
$9,193,328 CAD
Total Assessment
$31,758,773 CAD
ZONING
| Zoning Code | R3, Santa Monica (Multiple Residential) |
| R3, Santa Monica (Multiple Residential) |
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HUGE PRICE REDUCTION - NOW PRICED TO SELL | 537 San Vicente Blvd
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